Payment21® is operated by the first fully licensed Bitcoin processor in the world
Zurich/Delaware, March 2015. The owner of the Payment21®-brand is now registered as a financial intermediary in Switzerland. The third-party processor is supervised by a semi-governmental regulatory organization for compliance with Anti-Money-Laundering (AML) laws and Know-Your-Customer (KYC) rules. This regulatory body acts on behalf of the Swiss Financial Market Authority. “Obtaining approval from the regulators is a huge milestone for the European digital money marketplace and enriches the global Bitcoin ecosystem,” a Payment21® spokesperson said.
Moving Media GmbH, the owner of the Payment21®-brand, is now an enrolled member of Geneva’s ARIF, the Association Romande des Intermédiaires Financiers. This is one of the most sought-after Self-Regulatory Organizations (SRO) in Switzerland. The Swiss-based payments gateway is the first fully licensed Bitcoin processor in the world specializing in providing cross-border transactions to businesses that accept digital cash for the purchase of goods and services.The company operates as a regulated financial intermediary offering fully compliant Bitcoin processing services. Its offices are located in the Canton of St. Gallen, situated in the German-speaking eastern area of the alpine country. According to Managing Director Bernhard Kaufmann, “Government licensing is crucial when establishing a payments business. Official approval from a leading European financial center such as Switzerland is a key differentiator in the competitive landscape.”