Januar obtains full DFSA license to serve crypto companies 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.”
Januar ApS, a gateway for EU crypto companies, has received its full Payment Institution license from the Danish Financial Supervisory Authority (DFSA).
By securing the DFSA license, the financial services partner for crypto businesses will be able to onboard clients across the full European Economic Area (EEA) and effectively address the demand it has been facing outside of its local market of Denmark.
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.
The authorization comes at a time of progress for the crypto industry in the European Union while decentralized transaction systems emerge as a faster, better, and cheaper alternative to the status quo.
Januar wants to offer crypto-friendly financial services for businesses across Europe, starting with payment accounts for crypto businesses.
Januar services no longer limited to Danish companies
The company first received a license as a payment institute with limited permission to serve the Danish market in 2021. Then, it began the process of applying for the now-obtained full Payment Institution license. This means that Januar can now provide its services across Europe, and its payment services will no longer be limited to Danish companies.
Januar supports a more open and collaborative financial system, including 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.
Last year, Januar raised €6 million in a funding round led by Element Ventures, with participation from Angular Ventures, Outward VC, and early pre-seed backers byFounders.
Marcus Mølleskov, CRCO of Januar, said: “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 (VASPs) 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.”
“Next chapter for the regulated European crypto industry”
Simon Ousager, co-CEO of Januar, commented: “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.
“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 understands their business or has the skills to manage the risk associated with it.”
