Dear Valued Stakeholder, We are issuing this advisory to communicate our insights and recent experiences regarding the current licensing framework managed by the Financial Conduct Authority (FCA) in the United Kingdom. This advisory is backed by extensive discussions with a…
In the United States, there is no specific license designated specifically for electronic money institutions (EMIs), unlike the licensing system in place in the UK or European Union. Instead, the US has Money Services Businesses (MSBs) which must obtain a…
If you are an incumbent and would like to set foot in the electronic money market in the UK, you can apply for the UK SEMI License. Electronic Money (e-money) is a digital store of a monetary value on a…
Any business in the UK wanting to issue e-money has to apply for an EMI license. Electronic money (e-money) is electronically (including magnetically) stored monetary value, represented by a claim on the issuer, which is issued on receipt of funds…
An Electronic Money Institution (EMI) is a financial institution that is authorized to issue electronic money (also known as e-money) and provide payment services. E-money is a digital representation of monetary value that is issued on behalf of a natural…
E-Money is a type of digital currency that is stored electronically on a computer or other electronic device, and can be used to make online transactions or transfer funds between individuals. It is issued by financial institutions or other authorized…