|   Digital Currency


  |   Digital Currency


Bitstamp Creates History, Becomes First Nationally Licensed Bitcoin Exchange

Bitstamp Homepage Screenshot (EconoTimes)

Bitcoin exchange Bitstamp announced today that Luxembourg has granted it a license as a fully regulated Payment Institution. As a result, Bitstamp will become the first fully licensed bitcoin exchange in Europe, going into effect on July 1st, when its new headquarters in Luxembourg will be fully operational.

The license has been signed by Luxembourg’s Minister of Finance Pierre Gramegna and is passportable into the 28 EU member states providing all European customers with a robust, secure platform for bitcoin trading.

“Luxembourg has a long-standing history as an international leader in innovation. That Bitstamp has chosen Luxembourg as its European hub only strengthens that reputation. I believe this announcement marks a milestone for bitcoin and digital finance in Europe. Bitstamp is a most welcome addition to Luxembourg’s Fintech ecosystem”, Gramegna said.

The company said that the license has been received following a “rigorous” application process with the Luxembourg financial regulator, the Luxembourg Financial Industry Supervisory Commission (known as CSSF) spanning almost two years, which included security reviews in addition to an audit by Ernst & Young.

In addition, Bitstamp said that Luxembourg’s long and established history of fostering innovation, coupled with exceptionally strong infrastructure and the financial and security awareness led it to its decision to headquarter in the country.

“Luxembourg recognizes the economic potential of bitcoin and blockchain technology.  It has set an example for other nations to embrace the industry after having conducted heavy due diligence of the technology and of Bitstamp as a company. Bitstamp becoming the first nationally regulated bitcoin exchange is a historic achievement for digital currency”, said Dan Morehead, CEO of Pantera Capital and chairman of Bitstamp.

In addition, Bitstamp also announced the launch of BTC/EUR trading to better serve the European markets. It is offering free trading in BTC/EUR for both new and existing customers for 30 days.

“Effective Tuesday, 26th of April all EUR deposits received will be credited directly to EUR account balance. Trading will start same day at 1:00 PM CEST”, Bitstamp said in an online post.

Established in 2011, Bitstamp is a marketplace allowing people from all around the world to securely buy and sell bitcoin. It has raised a $10 million Series Seed round from blockchain venture capital firm Pantera Capital.

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