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The Baanx platform has received full approval from the UK Financial Conduct Authority (FCA) for the registration of cryptoassets. It was one of the first fintech companies to pass the regulatory review for compliance with safety standards.
Baanx founder and CEO Garth Howat said his firm is the world’s leading fintech platform. She is trusted by renowned international companies, including Ledger and Tezos. Obtaining a license clearly showed that the British regulator also considers the site to be reliable.
Obtaining an FCA license will allow Baanx to improve its current services by providing users with secure cryptocurrency market products. Experienced holders of digital currencies will be able to receive funding at a rate of 0% per annum. For example, if a client of a company issues 1 Bitcoin (BTC) at a price of $ 50 thousand, he will be provided a loan for $ 5 thousand at zero interest.
In order to obtain the permit, Baanx worked closely with the FCA to maintain the highest standards that will give investors the confidence to securely protect their assets, according to the firm’s top manager, Mark Evans. The company also partnered with Ledger and announced an important milestone in providing secure investment vehicles to all of its clients.
Baanx plans to provide crypto-draft services to the Ledger community in the near future, with rollouts in Q1 2022 in many key countries in Europe and some US states. For the first time, the CL card platform will support cryptocurrencies BTC, ETH, XRP, BXX, BCH, LTC, as well as stablecoins USDT, EURT and USDC.
The news of the receipt of the FCA license led to a significant increase in the trading volume of the BXX token, issued by Baanx. As of 16:52 (Moscow time) on January 5, this figure increased by 91.93%, to $ 17.32 thousand.
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