Januar Expands Crypto Offering Across EU After Receiving Full Payment Institution License

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Januar ApS, the financial services partner for crypto businesses, has received its full payment institution license from the Danish Financial Supervisory Authority (DFSA).

The issuance of the license is a milestone for the growing company. It paves the way for the integration of customers throughout the European Economic Area (EEA). Januar has received considerable interest from customers outside of its local market of Denmark. Accordingly, it will now actively begin to integrate and serve these customers across Europe.

After receiving its license as a payment institute with limited authorization to serve the Danish market in 2021, the company started the application process for the now obtained full payment institution license. Januar can now provide its services throughout Europe, and its payment services will no longer be limited to Danish companies.

This news comes at a time when the crypto industry has been experiencing significant turmoil recently. The catalyst? The closure of several major US banking partners serving crypto companies. With the recent closure of Silvergate and Signature Bank, the industry has sought compliant and reliable partners for its financial services needs. Many market players now have their eyes set on Europe for partners operating in a jurisdiction with more regulatory clarity.

The gateway for EU crypto companies

Januar is building infrastructure to support a more open and collaborative financial system. It provides essential IBAN infrastructure for crypto businesses. This allows them to conduct their payments and operational transactions through a trustworthy and reliable fiat partner. While maintaining full compliance and stable business operations.

In April 2022, Januar closed the largest funding round in Danish history. It was a landmark 6 million round led by Element Ventures, with participation from Angular Ventures, Outward VC and early Founders pre-seed backers.

Marcus Mlleskov, CRCO, January

Marcus Mlleskov, CRCO of Januar says: Compliant crypto businesses are often shunned or shut out by the mainstream financial industry. Quite simply because of their sector of activity. This can even happen to Virtual Asset Service Providers (VASPs) who have fulfilled their registration obligations with financial authorities. They have all policies, procedures and processes in place to comply with AML laws.

“We provide our customers with access to the essential financial services they need to function. Therefore, they don’t have to worry about being unbanked. Even if they can get an account in the first place.

Breaking Down Barriers to Crypto Adoption

With the license obtained, Januar is positioned to become the go-to financial services partner for European crypto businesses. It serves the growing crypto asset industry with a market capitalization north of $1 trillion.

“We are delighted to have been awarded this payment institution license, which represents our full European launch and paves the way for compliant financial services across the continent,” said Januar co-CEO Simon Ousager. “Our team of experts worked tirelessly to create a solution that solves one of the industry’s most significant challenges. We are delighted 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 in the regulated European crypto industry. Plus, it means confidence in us being among the best in the world at quantifying and managing risk in this space. We are the first and only payment institute to be able to do this. We are driven by the opportunity to help bring trust and reliability to this industry and empower the next generation of crypto founders across Europe.

When banking meets cryptoSimon Ousager, co-CEO, Januar

Access to reliable banking and payment infrastructure has always been lacking in the general pace of innovation in the crypto space. Recent events with the closure of “crypto-friendly” banks testify to this unfortunate trend in the industry. With our full authorization as a payment institution, we are taking a big step in the opposite direction”, adds Simon Ousager.

“My message to all entrepreneurs and innovators is clear: if you are a legitimate European business working with crypto, Januar is here to provide you with the essential IBAN accounts you need to operate successfully and 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 who trade crypto, their problem is that they cannot find banking partners who understand their business. Alternatively, they lack the skills to manage the risk associated with it. concludes User.

Francis Bignel

Francis is a journalist and our senior LatAm correspondent, with a BA in Classical Civilization, he has a specialized interest in North and South America.

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