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Credits Receives European Crypto License for Expansion

EU AMLD5
EU AMLD5

Credits, a “network-based payments system” that supports online money transfers for traditional fiat as well as cryptocurrencies and stablecoins, has just acquired a European Crypto License, according to a post from the group.

As a global company, this license ensures Credits can reach a much wider audience in the European Union. The platform hosts a wallet for its users as well, and thanks to this new license they’re able to offer new benefits to users, which are the following:

  • Legislation of virtual value;
  • CS currency is tax-free;
  • The official license for a versatile exchange of virtual currency and fiat currencies;
  • Official crypto-wallet license.

On top of this, Credits’ crypto bank offers instantaneous transactions, zero trading fees, and accessibility to users around the world.

In other licensing news, as InsideBitcoins has previously reported on, InCore Bank has received a Swiss license to provide cryptocurrency transactions for banks in the area.

Thanks to this, the European Union will enjoy blockchain-based technology to not only make their transactions faster and more secure, but to automate many systems and cheapen the cost of services overall.

Speaking on the matter at the time was Mark Dambacher, the CEO of InCore Bank, who had said:

“Our customers benefit in one fell swoop from the expansion to the new asset class without having to invest in infrastructure and new processes themselves.”

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