Copenhagen, Denmark I Wednesday April 19, 2023, 3pm CET – Januar ApS (Januar.com), the financial services partner for crypto businesses, today announces it has received its full Payment Institution license from the Danish Financial Supervisory Authority (DFSA).
The issuing of the license is a landmark for the fast-growing company and paves the way for onboarding clients across the full European Economic Area (EEA). The company has seen significant interest from customers outside of its local market of Denmark, and will now actively begin to onboard and service these customers across Europe. After receiving its license as a payment institute with limited permission to serve the Danish market in 2021, the company began the process of applying for the now-obtained full Payment Institution license.
Januar can now provide its services across Europe, and its payment services will no longer be limited to Danish companies.
This news comes at a time when the crypto industry has recently experienced significant turmoil on the back of the closure of several important US banking partners servicing crypto companies. With the recent shutdown of both Silvergate and Signature Bank, the industry has been looking for compliant and reliable partners for their financial services needs. Many market participants now have their eyes on Europe for partners operating within a jurisdiction with more regulatory clarity.
The Gate for EU Crypto Companies
Januar is building infrastructure to support a more open and collaborative financial system. It provides critical IBAN infrastructure for crypto businesses so they can conduct their payments and operational transactions through a trustworthy and reliable fiat partner, maintaining full compliance and stable business operations. In April 2022, Januar closed the largest seed round in Danish history, a historic €6M round led by Element Ventures [now 13books], with participation from Angular Ventures, Outward VC, and early pre-seed backers byFounders.
Marcus Molleskov, CRCO of Januar commented: “Compliant crypto businesses are often rejected or off-boarded by the traditional financial sector, simply because of their sector of activity. This can even happen to virtual asset service providers (ASPs) who have completed their duties to register with financial authorities and have all the policies, procedures and processes in place to comply with AML laws. We provide our customers with access to the critical financial services they need to operate, so they don’t have to worry about being de-banked, even if they can get an account in the first place,”
Januar is positioned to become the go-to financial services partner for European crypto businesses
Simon Ousager, CEO of Januar commented: “With the license secured, Januar is positioned to become the go-to financial services partner for European crypto businesses, serving the growing crypto asset industry with a market cap north of a trillion dollars. We are thrilled to have secured this Payment Institution License, which represents our full European launch and paves the way for compliant financial services across the continent. Our team of experts has worked tirelessly to create a solution that solves one of the industry’s most significant challenges, and we are excited to be able to offer our services to businesses in thirty markets across Europe.”
“The Payment Institution license granted to us by the Danish FSA marks the next chapter for the regulated European crypto industry and signifies trust in us that we’re among the best in the world at quantifying and managing risk in this space. We are the first and only payments institute that can do this, and we are motivated by the opportunity to help bring trust and reliability to this industry and enable the next generation of crypto founders across Europe. 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. With our full payment institution license, we are taking a huge step in the opposite direction. My message to all the entrepreneurs and innovators out there is clear: If you are a legitimate European business working with crypto then Januar is here to provide you with the critical IBAN accounts you need to operate successfully and build the financial system of tomorrow.”
If you are a legitimate European business working with crypto then Januar is here to provide you with the critical IBAN accounts you need to build the financial system of tomorrow
All businesses need accounts to transact with customers, pay salaries and trade with partners, this is true no matter if you are selling clothes or selling crypto. For those that do trade crypto their problem is that they can’t find banking partners that understand their business or has the skills to manage the risk associated with it.” says Simon Ousager. It is no longer a question of if, but a question of when. Digital assets and decentralized transaction systems are faster, better, and cheaper, changing the way value moves between people and businesses globally. Europe, at the moment, is a suppressed and underserved market. Januar is changing that by offering crypto-friendly financial services for businesses across Europe, starting with payment accounts for crypto businesses.
Let’s put words into actions
Januar now welcomes business customers from all over Europe, if you are a crypto company looking into opening a payment account book a meeting with the team here
