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Payments General

Billon gets license to operate as an e-money institution

Thursday 25 April 2019 | 02:48 PM CET

Billon Solutions has obtained permission from the Polish Financial Supervision Authority to operate as a registered e-money institution.

This is the first permit of this type issued in Poland. Billon will be able to provide a number of payment services in national currency, such as keeping an electronic money account, issuing payment instruments, making transactions, exchanging currencies or remittance, using its DLT enterprise system.

Moreover, the license entitles Billon to issue electronic money in the form of a national currency with the same value as cash and money on a bank account.

The permit allows Billon to operate in the entire European Union, should the company exert its passporting rights, in which case the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego – KNF) would notify supervisory authorities in other EU countries about the Polish license.

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