Danish startup Januar announced April 19 that it has received a Payment Institution License from the country’s Financial Supervisory Authority (DFSA). The license will allow Januar to conduct business in the 30 European Economic Area markets, whereas it only served Danish companies under its previous limited permission.
Januar provides International Bank Account Number (IBAN) business accounts to crypto businesses. Linking to IBAN infrastructure gives crypto companies access to compliant fiat banking services, such as payments and settlement, which crypto companies may have trouble finding otherwise. Januar co-CEO Simon Ousager said:
“Access to banking and reliable payment infrastructure has always been lacking behind the general pace of innovation in the crypto space, and the recent events with ‘crypto-friendly’ banks shutting down is a testament to this unfortunate industry trend.”
Ousager continued that the licensing of Januar was “taking a huge step in the opposite direction.”
Related: London Stock Exchange Group may provide clearing services for BTC derivatives in Q4
Januar, which was founded in 2021 by former Chainalysis staff, broke the Danish record for startup funding the next year, receiving 6 million euros ($6.5 million) in seed money. The funding round was led by Element Ventures, with the participation of Angular Ventures Outward VC and byFounders. Several angel investors also participated.
How do you solve crypto companies’ access to banking in the EU? This week on the Public Key podcast, @SimonOusager, CEO & co-founder of @januar, explains how his company is solving this problem and revolutionizing the payment gateway in the EU. https://t.co/MFcNZgriar pic.twitter.com/c5Sz930guQ
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Author: Derek Andersen
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