Banxa, a leading payment solutions provider and a partner of the well-known cryptocurrency exchange Binance, has successfully obtained legal recognition for its operations in the United Kingdom.
The UK’s Financial Conduct Authority (FCA) officially approved Banxa’s application on February 9th, granting the company’s UK branch the necessary authorization to legally offer cryptocurrency services within the country.
Brinda Paul, the Managing Director of Banxa’s British branch, shared that the FCA thoroughly examined the registration documents before granting approval.
Last year, only four crypto companies were granted permission to operate in the UK, highlighting the significance of Banxa’s achievement. Banxa specializes in providing fiat payment gateways for crypto exchanges, and their partnership with Binance was established four years ago.
Meanwhile, the former CEO of Binance has had the sentencing for his case postponed by a federal court in Seattle, now scheduled for April 30, 2024.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
