NYDIG's Bottlepay Receives FCA License to Conduct Crypto Asset Activities

Time:2022-01-27 Source: 898 views DeFi Copy share

NYDIG-owned payments startup Bottlepay said it has received approval from the Financial Conduct Authority (FCA) to conduct crypto-asset activities in the UK, making it the first Lightning Network-based company to be licensed by the UK’s financial regulator.

The FCA registration shows that the company has met the watchdog's anti-money laundering and counter-terrorist financing regulations. The FCA became the UK’s watchdog for such matters in January 2021, requiring all crypto asset firms to register in order to continue operating.

According to media reports, cryptocurrency firm NYDIG has acquired Bottlepay, a UK-based payments startup focused on the Bitcoin Lightning Network.

NYDIG will pay in shares in a deal valued between $280 million and $300 million (equivalent to 3% of NYDIG shares).

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