SnapSwap Granted the First bitLicense in Europe

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SnapSwap International S.A. announced today that the company has been granted a license to provide services as a regulated payment institution by the Minister of Finance of the Grand Duchy of Luxembourg. The license allows SnapSwap to offer payments, remittances, and currency exchange services utilizing modern cryptographic technologies, crypto-currencies and internet protocols, such as blockchain and open ledger consensus.

SnapSwap will start its operations for the European Union out of Luxembourg in January 2016 under the regulatory supervision of the Commission de Surveillance du Secteur Financier (CSSF) as a payment institution pursuant to the Law of 10 November 2009 on payment services, on the activity of electronic money institution and settlement finality in payment and securities settlement systems.

SnapSwap, when operational in early 2016, will hold payment accounts and provide services to individuals, companies, and financial institutions within the European Union and worldwide. The company can process payment instruments on distributed payment networks, allowing faster, less expensive, and more accessible payments.

“Our mission is to build innovative financial products that allow consumers and businesses to participate in the global economy by bringing down barriers such as cost, complexity, and processing delays. We are employing the cutting-edge technologies of the emerging Internet of Value to foster financial inclusion and efficiency,” said Denis Kiselev, SnapSwap founder and CEO. “We believe this is the first step of the creation of a crypto protocols ecosystem that will develop within an established structure of financial regulation and supervision”, Kiselev added.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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