SnapSwap granted the first bitLicense in Europe

SnapSwap International S.A. announced today that the company has been granted a license to provide services as a regulated payment institution by the Minister of Finance of the Grand Duchy of Luxembourg. The license allows SnapSwap to offer payments, remittances, and currency exchange services utilizing modern cryptographic technologies, crypto-currencies and internet protocols, such as blockchain and open ledger consensus.
SnapSwap will start its operations for the European Union out of Luxembourg in January 2016 under the regulatory supervision of the Commission de Surveillance du Secteur Financier (CSSF) as a payment institution pursuant to the Law of 10 November 2009 on payment services, on the activity of electronic money institution and settlement finality in payment and securities settlement systems.
SnapSwap, when operational in early 2016, will hold payment accounts and provide services to individuals, companies, and financial institutions within the European Union and worldwide. The company can process payment instruments on distributed payment networks, allowing faster, less expensive, and more accessible payments.

​More...