Danish startup Januar announced on April 19 that it has received a payments institution license from the country's Financial Supervisory Authority (DFSA). The license will allow January to operate in 30 EEA markets, whereas it only served Danish companies under a previous license limit.
January offers International Bank Account Number (IBAN) business accounts for crypto businesses. Linking to the IBAN infrastructure enables crypto firms to access compliant fiat banking services, such as payments and settlements, that might otherwise be difficult for crypto firms-Juar co. CEO Simon Ousager said: “Access to banking and reliable payment infrastructure has been lacking on the heels of the overall pace of innovation in the crypto space, and recent incidents of 'crypto-friendly' bank failures are evidence of this unfortunate industry trend.”
Ousager went on to say that January's licensing "is a big step in the opposite direction." Founded in 2021 by former Chainalysis employees, January broke Denmark's start-up funding record the following year with €6 million ($6.5 million) in seed funding. The round was led by Element Ventures, with participation from Angular Ventures Outward VC and by Founders. Several angel investors also participated. Finding banking services has become more challenging for crypto firms since the collapse of crypto-friendly Silvergate Bank on March of 8 and the close Signature Bank by New York regulators next week.
Meanwhile, European banks have been expanding their crypto offerings. Liechtenstein-based VP Bank expanded its custody and tokenization services in April. Boerse Stuttgart Digital Subsidiary Received License to Offer Custody Services in March, Germany's Olatpbank New Wlatpbank to Announce I coin , Conduct transactions for approximately 1,200 banks in the country.
