Klink Finance, a crypto startup based in London, has received its initial authorization to offer its cryptocurrency services across the European Union.
Klink is “building a Prize Linked Wallet that offers cryptocurrency investors the opportunity to store their funds and earn regular rewards on top of their holdings.”
The company has “announced its registration of crypto licensing under the control of the Chamber of Tax Administration in Poland through its local branch.” The license enables Klink to operate in “a fully regulated manner and comply with current and future digital asset regulations.”
Klink’s commitment to security and compliance “is paramount, and this license is a major milestone in the company’s growth as it prepares for its launch in early 2023.”
Klink Founder, Philip Jonitz, stated:
“We are incredibly proud to announce that we have obtained our initial licensing to start onboarding users to the Klink wallet. Our aim is to provide a safe, secure, and transparent environment for users to manage their digital assets, and we are therefore monitoring regulations closely to bring more services to market globally.”
Tobias Bauer, Partner at Blockchain Founders Fund, said:
“Klink Finance’s acquisition of initial EU licensing is a testament to the company’s commitment to compliance and security in the rapidly evolving cryptocurrency space. As a strong advocate of innovation and growth in this industry, we are impressed by Klink’s achievements and fully support their mission to provide a seamless and rewarding experience for their users.”
The European Union is “making strides in regulating the cryptocurrency space, making this a pivotal moment in driving further adoption of cryptocurrencies.”
With this initial license in place, Klink is “seeking additional regulatory licenses in secondary jurisdictions to expand its services to the global crypto community.”
The virtual asset service provider license “obtained in Poland is the first step in this ongoing process, as the company strives to comply with the laws, regulations, and standards of each jurisdiction it operates in.”
As noted in the update, Klink claims it is “a leading Prize Linked Crypto Wallet that offers a unique approach to holding digital assets, similar to Prize Linked Savings in traditional finance.”
The savings scheme “has over £202B AUM and 25M participants in the UK alone and is widely used across the Commonwealth.”
The company is mission-driven “to accelerate global crypto adoption through its engaging and safe wallet infrastructure, driven through prize-linked mechanisms, The company is set to launch in early 2023.”