Swiss Bitcoin Firm Payment21 Receives AML/KYC License

Announcements, News, Regulation | October 20, 2017 By:

Moving Media, the owner of payment gateway Payment21, has received a Swiss Directly Subordinated Financial Intermediary (DSFI) license form the Financial Market Supervisory Authority (FINMA), a regulatory arm of the Swiss government. Payment21 is the first bitcoin company to gain full regulatory compliance from the Swiss financial regulator.

Moving Media was formerly a member of Geneva’s ARIF, the Association Romande des Intermédiaires Financiers, a self-regulatory organization (SRO) under Swiss private law. The new DSFI license represents supervision by the FINMA as a compliant partner in anti-money laundering (AML) and know-your-customer (KYC) regulation.

Payment21 is a payments technology and financial service company connecting consumers and businesses. The company’s bitcoin cashier system provides collection and exchange services to e-commerce merchants, multinational corporations, and financial intermediaries around the globe. The service offerings have a focus on regulated businesses with a need for effective compliance procedures. This target group includes publicly-listed companies, licensed gaming operators, digital marketplaces, prepaid card vendors, money transfer businesses, corporate cash management providers, authorized investment funds, crypto token-issuers, asset managers, and their banking partners.

“We are committed to meeting the legal requirements of the Swiss financial marketplace,” said Moving Media Managing Director Bernhard Kaufmann. “Our handling of compliance issues enriches the digital currency ecosystem, and demonstrates that Swiss regulators embrace competitiveness in financial services, and truly encourage FinTech innovation in the digital era.”