The Swiss Bitcoin-exclusive investment application Relai has become the latest crypto asset service provider (CASP) to receive recognition under the EU's crypto regulatory framework.
Official records show that the French financial market regulator Autorité des Marchés Financiers (AMF) granted Relai a crypto asset market regulation (MiCA) license on Thursday.
"We are incredibly proud to be one of the first Bitcoin companies to receive a MiCA license and eagerly look forward to expanding our business first in France and then in the second phase across the entire European market," said Relai co-founder and CEO Julian Liniger in a statement shared with Cointelegraph on Friday.
Founded in 2020 in Zurich, Relai operates a pure Bitcoin platform that offers Bitcoin buying, selling, and savings features, supporting a self-custody mechanism that allows users to have complete control over their assets.
Obtaining the MiCA license enables Relai to launch several regulated services related to Bitcoin investment within its application.
With this license, Relai is authorized to support the SEPA (Single Euro Payments Area) payment system across the EU and provide higher limits for Euro transactions.
Relai's EU co-founder Adem Bilican stated that obtaining the MiCA license is not only a significant breakthrough for the platform itself but also for the entire European Bitcoin industry.
Bilican emphasized, "Our goal is clear: to make Bitcoin accessible to as many people as possible. Simple, safe, and regulated."
The acquisition of the MiCA license aligns closely with Relai's development roadmap, as the company had previously announced plans to obtain this license by the end of 2024, at which time it completed a $12 million Series A funding round led by the American venture capital firm Ego Death Capital. Other investors include Plan B Bitcoin Fund, Timechain, and Solit Group.
The day before this announcement, Blockchain.com, one of the oldest crypto platforms operating wallets and blockchain explorers, announced that it had received a MiCA license from the Malta Financial Services Authority.
Related: Reportedly, another wallet from the "Satoshi era" in 2009 has awakened and transferred Bitcoin (BTC).
Original: “Bitcoin (BTC) application Relai gets EU green light with MiCA license”
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