Danish Firm Januar ApS Receives Payment Institution License, Aims to Provide Services to Crypto Firms

Januar ApS is reporting that it has received its full Payment Institution license from the Danish Financial Supervisory Authority (DFSA). Januar says that the license will enable it to serve clients across the European Economic Area (EEA). The company shares that it has received “significant interest: from potential customers beyond the borders of Denmark and now it will commence onboarding of these new customers.

Previously, Januar received a payments license with limited permission – serving just the Danish market.

In April 2022, Januar reports that it closed the largest seed round in Danish history, a €6 million round led by Element Ventures, with participation from Angular Ventures, Outward VC, and early pre-seed backers byFounders.

Januar notes that receipt of the license is advantageous due to the recent chaos in the crypto industry in dealing with crypto-friendly banks.  The recent failaures of Silvergate Bank and Signature Bank means digital asset firms are seeking a compliant partner for their financial services needs. As the regulatory environment in the US remains opaque for crypto firms, Januar explains that many market participants are looking to Europe for partners operating within a jurisdiction with more regulatory clarity.

Januar aims to be the gateway for EU crypto firms. Januar currently prices IBAN infrastructure for digital asset firms so they can offer payments and operational transactions with a regulated fiat partner.

Marcus Mølleskov, CRCO of Januar, said they provide customers with access to the critical financial services they need to operate, so “they don’t have to worry about being de-banked, even if they can get an account in the first place,”

“We are thrilled to have secured this Payment Institution License, which represents our full European launch and paves the way for compliant financial services across the continent,” said Simon Ousager, Januar co-CEO. “Our team of experts has worked tirelessly to create a solution that solves one of the industry’s most significant challenges, and we are excited to be able to offer our services to businesses in thirty markets across Europe.”

Ousager noted they are the first and only payments institute that can provide these services to crypto firms.

“Access to banking and reliable payment infrastructure has always been lacking behind the general pace of innovation in the crypto space, and the recent events with “crypto-friendly” banks shutting down is a testament to this unfortunate industry trend. With our full payment institution license, we are taking a huge step in the opposite direction. My message to all the entrepreneurs and innovators out there is clear: if you are a legitimate European business working with crypto then Januar is here to provide you with the critical IBAN accounts you need to operate successfully and build the financial system of tomorrow.”


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