If you are interested in buying Bitcoin in Norway or elsewhere in the Nordic region, you now have another good reason to choose NBX. We have previously written about why you should consider buying Bitcoin, but the most important thing will always be that you use a safe and reliable cryptocurrency exchange. Since our inception, NBX has always been "best in class" when it comes to security and anti-money laundering and now we have achieved another milestone.
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On the 22nd of January, we, Norwegian Block Exchange AS, received start-up permit for a license as an e-money institution from the Norwegian Financial Supervisory Authority. From before, NBX, like other cryptocurrency exchanges in Norway, has permission to operate exchange and storage services for virtual currency. NBX is the only cryptocurrency exchange in Norway and the Nordics that has received start-up permit for a license as an e-money institution. This significant permit positions NBX to develop innovative services for our valued customers and underscores our unwavering commitment to meeting rigorous regulatory standards. Moreover, this permit affords us the flexibility to extend our market presence through cross-border operations, aligning seamlessly with PSD2 regulations.
An e-money institution license empowers NBX to offer products and services that are reserved for traditional financial institutions, including payment and transfer services. Furthermore, this license streamlines collaboration with other entities within the financial sector, as NBX is now subject to the same regulatory prerequisites. Importantly, this authorization represents a significant stride towards providing services that enhance the practicality of cryptocurrency in everyday life, thereby amplifying its inherent value. It positions us favorably to facilitate a harmonious bridge between conventional finance and the digital realm.
Operating under the aegis of an e-money institution license underscores our unwavering dedication to the highest standards of governance and compliance. While NBX is a Norwegian entity, our influence extends across the Nordic region. The scrutiny and regulation by the Norwegian Financial Supervisory Authority not only vouchsafe our commitment to safeguarding the interests of our customers and partners but also reinforce the trust they place in us to manage their assets prudently.
This text is intended to inform and is not financial advice.