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Cryptocurrencies

Swiss Bitcoin company receives official license

Wednesday 18 October 2017 | 09:59 AM CET

Moving Media, the owner of the Payment21 brand has received a regulatory upgrade and been licensed as a Directly Subordinated Financial Intermediary (DSFI).

Payment21 is a brand that encourages digital currency as a global medium of exchange. Moving Media, was formerly a member of Geneva’s ARIF, the Association Romande des Intermédiaires Financiers, a self-regulatory organization (SRO) under Swiss private law. Thus, the fintech becomes the first Bitcoin firm in Switzerland directly supervised by the Swiss Financial Market Supervisory Authority (FINMA) for compliance with Anti-Money-Laundering (AML).

Payment21 Bitcoin cashier system provides collection and exchange services to ecommerce merchants, multinational corporations, and financial intermediaries around the globe. In addition to offering gateway services, the technology company operates an exchange office enabling Payment21 to broker Bitcoin by exchanging digital money into legal tender.

Currently, the parent company reached a new level of regulatory compliance for companies dealing with cryptocurrency in Switzerland. The Swiss-based payment gateway operates as a regulated financial intermediary offering AML-compliant Bitcoin processing services. Its offices are located in the Canton of St. Gallen, situated in the German-speaking eastern area of the alpine country.

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