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.