#Bitcoin bar berlin license
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Those responses range from: “ Isn’t Bitcoin dead?” to “ Yeah I’ve heard of it… isn’t it that MtGox thingy that went belly up?” After explaining the concept of Bitcoin, though, nearly everyone was interested in learning more about the digital currency. I got the same responses I usually get when asking if a business accepts Bitcoin, or if they would consider doing so. Nevertheless, it wasn’t long before I broached the subject of Bitcoin with some sellers of gold and silver bars. It was quite fun to attend the Fair, although I was unable to find any gold and silver bullion traders from the Bitcoin community. Gold or silver bars sold by reputable merchants and approved by independent inspectors.Collector’s sets of euros that are only available at the convention.There are few that have managed to do what Finoa has done in a European context and hence why we now see ourselves in a leading position. “Being in the European Union requires a fundamentally different organizational setup, and poses a very high entry to new incumbents and other players overseas. Finoa is bridging this gap by providing seamless, safe, and regulated access to the world of digital assets. May added: “We identified a lack of sophisticated custody and asset servicing solutions for safeguarding and managing blockchain-based digital assets that successfully cover the needs of institutional investors. The team they have assembled is uniquely positioned to do just that.”

As custodians of digital asset private keys, Finoa needs to be trusted both with the secure management of those keys and with the products and services that allow their clients to fully leverage the power of native digital assets. The company was founded in 2018 by Christopher May and Henrik Ebbing, but both had previously worked together at McKinsey and started working in blockchain in 2017.Ĭoinbase’s direct listing alters the landscape for fintech and crypto startupsĬolin Hanna, principal at Balderton Capital, who leads most of Balderton’s Crypto investments, said: “Chris, Henrik, and the entire Finoa team have built a deeply impressive business which bridges the highest levels of professionalism with radical innovation.

#Bitcoin bar berlin license

The company says its plan to become a regulated platform for institutional investors and corporations to manage their digital assets and has received a preliminary crypto custody license and is supervised by the German Federal Financial Supervisory Authority (BaFin). They are going up against large players such as Anchorage, Coinbase Custody and Bitgo, exchanges like Binance and Kraken and self-custody solutions like Ledger.įinoa says it now has more than 250 customers, including T-Systems, DeFi-natives like CoinList and financial institutions like Bankhaus Scheich. The round was led by Balderton Capital, alongside existing investors Coparion, Venture Stars and Signature Ventures, as well as an undisclosed investor.Ĭrucially, the Berlin-based startup works with Dapper Lab’s FLOW protocol, NEAR and Mina, which are fast becoming standards for crypto assets.

#Bitcoin bar berlin series

Thus it is that Berlin-based digital asset custody and financial services platform Finoa has closed a $22 million Series A funding round to do just that. Furthermore, being in the EU is going to be a key barrier to entry for many U.S. This requires more sophisticated technology. And they aren’t going to keep it on some random or consumer-grade crypto operation. Institutions need to keep their crypto assets somewhere.