Baanx, a provider of cryptocurrency platform technology, has now announced that it has successfully obtained the full crypto asset registration approval of the FCA in the United Kingdom.
The company is now one of the first UK companies approved by the Financial Conduct Authority (FCA) to register as an encrypted asset business under the Money Laundering, Terrorist Financing and Fund Transfer (Payer Information) Regulations 2017 (US Department of Labor 2017 ).
For Baanx, the FCA license allows the company to enhance its current services by providing users with a secure “Cryptodraft” exchange product, which enables experienced cryptocurrency holders to obtain funds from a 0% annual interest rate, enabling them Can easily use collateral for consumption.
In short, if you hold 1 Bitcoin at a price of 50,000 USD, you can get 5,000 USD USDT with 0% APR. If you hold Baanx’s native BXX token, then in the near future, you can also Have 0% APR Cryptodraft 50% lifetime value.
“FCA’s approval marks another milestone in our continued success in providing leading services that disrupt the financial technology and banking ecosystem. After our recent announcement, Baanx is currently working with Ledger to provide Cryptodraft services to the Ledger community, Launched in many major countries in the European Economic Area and parts of the United States in the first quarter. CL card platformSupported by Ledger, it will initially support BTC, ETH, USDT, EURT, USDC, XRP, BXX, BCH and LTC. In the next few weeks, we will also launch the next partnership with Tezos, which will also provide Cryptodraft to the Tezos community. For BXX token holders, this will be an exciting opportunity because we bring greater utility to tokens through the Cryptodraft product. “
– Garth Howat, Founder and CEO of Baanx