The process took over one year, but Moving Media – with its cryptocurrency payment system Payment21 – has received a regulatory upgrade.
According to a company statement, this is a first for Switzerland. Both its business model and its compliance with anti-money-laundering laws and other regulations were carefully evaluated by FINMA before being issued the license. The company is now obliged to comply with anti-money-laundering laws and know-your-customer rules.
Headquartered in St.Margrethen, Moving Media’s Payment21 bitcoin cashier system provides collection and exchange services to e-commerce merchants, multinational corporations and financial intermediaries around the world.
“Government licensing is crucial when establishing a payments business,” said Managing Director Bernhard Kaufmann. “Official approval in a leading European financial centre like Switzerland is a key differentiator in the competitive landscape.”
