Crypto Financial Services Provider Januar Receives Full Danish Payments License

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Danish startup Januar announced on April 19 that it had received a payment institution license from the country’s Financial Supervisory Authority (DFSA). The license will allow Januar to operate in all 30 markets of the European Economic Area, whereas it only served Danish companies under its previous limited license.

Januar provides business accounts with International Bank Account Number (IBAN) to crypto businesses. Linking to the IBAN infrastructure allows crypto companies to access compliant fiduciary banking services, such as payments and settlements, that crypto companies might otherwise struggle to find. Januar co-CEO Simon Ousager said:

Access to reliable banking services and payment infrastructure has always been lacking in the general pace of innovation in crypto, and recent events with the closure of crypto-enabled banks testify to this unfortunate trend. Of the industry.

User continued that Januar’s license took a huge step in the opposite direction.

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Januar, which was founded in 2021 by former Chainalysis staff, broke Denmark’s record for seed funding the following year, receiving €6 million ($6.5 million) in capital from priming. The funding round was led by Element Ventures, with participation from Angular Ventures Outward VC and byFounders. Several angel investors also participated.

Finding banking services has become more difficult for crypto businesses since the collapse of cryptocurrency-enabled Silvergate Bank on March 8, followed by New York regulators closing Signature Bank the following week.

At the same time, European banks have expanded their crypto services. VP Bank in Liechtenstein expanded its custodial and tokenization services in April. A subsidiary of Boerse Stuttgart Digital received a license to provide custody services in March, and German bank Dwpbank announced it would open a new platform to provide Bitcoin (BTC) transactions to around 1,200 banks around the world. country.

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