NYDIG subsidiary and crypto-asset firm Bottlepay has secured registration approval by the Financial Conduct Authority in the United Kingdom.
Bottlepay is now officially listed under FCA's Registered Cryptoasset firms. Built on the Lightning Network, it is the first startup payment company of such sort to be approved by the Financial Conduct Authority in the UK. Due to strict rules on crypto asset-based companies in the United Kingdom, they are required to follow the regulations that tackle money laundering.
In a public announcement on PR Newswire, the CEO of Bottlepay Pete Chayenne was thrilled with the FCA’s decision, stating:
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"This registration goes to show that we can build the financial infrastructure of the future while upholding the regulatory and compliance standards of today."
According to NYDIG, this will enable Bottlepay to become globally engaged in the financial service industry. Users will be able to not only make transactions with regular currency, but also send crypto such as Bitcoin on their smartphones "instantly and without fees."
Bottlepay’s parent company NYDIG is a Bitcoin-focused tech firm that offers blockchain solutions for financial service providers. The President of NYDIG Yin Zhao commented on the successful registration of Bottlepay:
"Securing FCA registration is a breakthrough event and is a testament to NYDIG's and Bottlepay's commitment to compliance. Together with Bottlepay, we will continue to work hard to make the Bitcoin network accessible to all."
With Bottlepay currently available only in the UK and Europe, the payment startup will surely be looking to expand after a successful approval by UK's Financial Conduct Authority.
