Wirex, a UK-based cryptocurrency card provider said it has secured e-money license from the country’s top financial services regulator, the Financial Conduct Authority.
In a tweet sent out by Wirex, the company said the coveted license is rare and its approval will be the third of its kind in the whole of the UK.
“Acquiring an FCA license has been our ambition since we started the company, so we’re thrilled to be at this point,” said Wirex co-founder Dmitry Lazarichev. “The license gives us the freedom to optimize our e-money offering, which will lead to lower costs and fees for our customers,” he detailed in a press release.
According to Wirex’s other co-founder, Pavel Matveev, the company has a robust approach to security and compliance and is working closely with regulators around the world. “We’re on a path of continuous improvement and focusing on these important milestones is key to achieving our ambitious global expansion plans. The FCA e-money license is just the first step to creating a broad and versatile offering that meets the varying needs of consumers worldwide,” he said.