Bitstocks secures FCA license for payment services

Bitstocks, the company behind Gravity, is now registered with the U.K. Financial Conduct Authority (FCA) as an EMD Agent. An EMD agent is “a firm that can act on behalf of another firm that is authorized or registered by the FCA as a payment or e-money institution.”

This FCA license brings Bitstocks one step closer to achieving its goal of “offering a comprehensive range of everyday banking services, backed by the power and scale of Bitcoin SV.”

What is the FCA?

The agency regulates financial firms that provide services to consumers, as well as maintain the integrity of the financial markets in the United Kingdom.

Anish Patel, head of compliance at Bitstocks, describes the FCA registration process as “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,” Patel said.

Bitstocks is one of the few companies in the digital currency ecosystem that is at the forefront of compliance and customer safety. With its FCA license,  Bitstocks’ users are protected in several ways. Bitstocks plans to continue receiving the government licenses and approvals that will allow them to expand their suite of Bitcoin powered banking products; they have applied for FCA Anti Money Laundering registration and will soon be submitting an E-Money Institute application.

Bitstocks Gravity

If you live in the U.K. or Europe, you are going to want to take a look at Bitstocks Gravity, it’s one of the easiest ways for residents in the U.K. and Europe—except Germany—to buy and sell Bitcoin SV as well as BTC and BCH.

You can find more information about Bitstocks Gravity here.

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