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 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 to establish a banking relationship with large British bank.
Government officials hope that this further proves London’s ambitions to become world’s financial technology capital.