Bitstamp gets the first break in US market with BitLicense

Bitstamp is a time-honored European Union (EU) centered crypto-currency and bitcoin exchange firm. Recently, it has been declared that the State Department of Financial Services of New York has approved a BitLicense for Bitstamp.

This consents Bitstamp to carry on providing crypto-swapping services in the United States and lays concrete on the way for development in the state.

Prior to providing BitLicense to Bitstamp, the department required the firm to meet multiple mandatory but stern prerequisites to ensure consumer security.

This license is a testimony that transactions at Bitstamp face the same extraordinary standards that are followed by conventional financial institutions.

A couple of years ago, Bitstamp Europe was approved as a payment institution by bestowing a license upon the firm. This made the company passport -able across all 28 EU member states.

With the approval of the license, Bitstamp has become the 19th company that has been granted a virtual currency license by any US state Department of Financial Services.

Recently, Bitstamp has broadcasted quite a lot of chief renovations for the exchange, including incorporating a trading system of Cinnober’s TRADExpress which is a faster WebSocket solution, a novel mobile app and the unveiling of fresh swapping interface is expected later this month.