Wirex becomes the third crypto-enabled company to receive an e-money license from U.K. financial regulators. Wirex is a London-based bitcoin wallet and payment card provider.
The e-money license is granted by the U.K.’s Financial Conduct Authority (FCA). And with the license, Wirex can now issue electronic money and provide payment services throughout the European Union and European Free Trade Association.
Commenting on the approval, Pavel Matveev, the co-founder of Wirex, said in the release that it was for an effort to “improve and refine its e-money services throughout the [European Economic Area].”
“Having our own principal license, instead of our existing FCA agency licence, means increased efficiency and lower costs.”
Kelly Horn, a media representative for Wirex, further added that the license will give Wirex ability to offer faster and more responsive service with lower rates to its customers.
Wirex won’t just stop in UK. According to Pavel Matveev, the co-founder of Wirex, the company will continue to seek for license in other countries like Singapore, Japan and others.