UK government, while pursuing its goal to make London a hub for the financial technology development, has had gone through first licensing of a virtual currency company.
UK’s financial regulator granted an electronic money license to a USA company that uses Bitcoin in conjunction with a mobile app. The app enables consumers to make payments to other consumers.
The company in question got the license partly by entering Innovation Hub – UK’s government initiative to encourage new developments in the financial industry.
The license allows establishing a banking relationship with a large British bank.
Government officials hope that this further proves London’s ambitions to become the world’s financial technology capital.