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Bitstocks secures FCA licencing

Bitstocks has secured new licencing by way of the Financial Conduct Authority for its system-challenging banking platform, Gravity. This brings the corporate one step nearer to providing a complete vary of on a regular basis banking providers, backed by the ability and scale of Bitcoin SV.

Bitstocks is now FCA registered as an EMD Agent of Modulr Finance. The registration quantity is 902839 and Bitstocks full registration may be found here on the FCA on-line register.

Compliance Officer, Anish Patel, was instrumental in reaching the licencing and stated:

The road to FCA registration has been a tough yet enjoyable one! However, this is only the first step of a long journey ahead for us here at Bitstocks. Each milestone will enable this groundbreaking company to serve people with truly different banking products and offer a real alternative to the financial structures which are in place at the moment.”

Following on from integrating their Bitcoin banking platform, Gravity, with the Faster Payments System again in April of this yr, Bitstocks continues so as to add the required foundations and frameworks to its enterprise to make sure it’s absolutely according to all authorized necessities – together with all compliance insurance policies and procedures, due diligence, anti-money laundering and document conserving.

Bitstocks has additionally submitted an utility for FCA Anti Money Laundering registration which ought to hopefully be authorized by year-end. They will even be submitting an E-Money Institute utility subsequent month.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners part, the final word useful resource information to study extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.

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