I was searching for crypto exchanges that also possess bank licenses or vice-versa. So far, no luck.
Crypto Exchanges with Banking/EMI License or Vice Versa
- Thread starter jafo
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Do you mean something like Swissquote, BCB, Spectrocoin, SEBA, Sygnum, and Swapin?
They're not all bank licenses, some are EMIs.
Kraken got a banking license but they haven't started yet. https://www.kraken.com/bank
Last edited: Sep 7, 2023
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This is the probably the answer to your question.
Actually it should be legally impossible in most cases.
Banks or EMI-s are not allowed to have any other activity licenses as side activities (e.g., crypto exchange).
I guess people would appreciate if they could also grab a beer, buy hangover medicine all in the same place while visiting a bank branch though. Unfortunately such ventures would need to be structured using multiple legal entities.
No, this one: Global Digital Financial Services Group
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This is the probably the answer to your question.
Got it! Thanks, Sols!
PS. A long time ago, I did a Google search on a company name given to me by a trusted supplier, but some conmen created a similar name and found a way to the top searches. Better SEO, I guess. Luckily, I only did a small transfer ($100) to verify if they received it before sending the full amount. When my supplier sent me the link because nobody could find my transfer... I realized what happened. I still have the convo with the bank.... I also printed it out and hung it on a frame to remind myself how close I came to losing 7 digits cry&¤
Exactly the reason I asked the question. I couldn't find out how to become a bank client of Kraken and I was afraid to ask through my account. Good to see it's in the works. Thank you!
Also, do you know anything about this? El Salvador's central bank licenses Binance - Central Banking
Will Binance get an exchange license, a bank license, or both? 🙄
Last edited: Sep 7, 2023
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