The fintech project B2B Payment Solutions Ltd, part of the B2Broker group of liquidity and technology providers for brokers and exchanges B2Broker, has obtained an Electronic Money Institution (AEMI License) from the UK Financial Conduct Authority (FCA).
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In the near term, the B2BPaySolutions project will begin offering digital payment services to clients in the United Kingdom and the European Economic Area: providing IBAN codes, issuing bank cards, processing electronic payments, and SEPA transactions.
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B2B Payment Solutions focuses on serving B2B clients and financial institutions in the electronic payments space: regulated forex brokers, liquidity providers, and IT companies. In the future, the company will also provide services to regulated financial institutions with SPI, API, SEMI and AEMI licenses.
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According to representatives of B2BPaySolutions, the aim of the project is to create an ecosystem where brokers and their clients can instantly deposit and withdraw funds from liquidity providers’ margin accounts, as well as make rapid transfers.
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“At present, the B2Broker group companies offer technological solutions for brokers and exchanges (B2Broker), multi-market liquidity for financial institutions (B2Prime), cryptocurrency processing for companies and blockchain solutions for exchanges (B2BinPay), and servicing corporate European clients in the digital assets trading space (the B2BX project). The new project will enable offering electronic payment services to all regulated financial institutions and corporate clients in the United Kingdom and Europe,” said Arthur Azizov, CEO of B2Broker and founder of B2BPaySolution.
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In the future, B2BPaySolutions will offer clients SWIFT transfers, personal IBANs, SEPA transfers, BACS/CHAPS and Faster Payments. The company’s plans include obtaining regulatory permission to service the crypto business and crypto exchanges, as well as adding cryptocurrency processing in the United Kingdom and Europe. In the long term, the company aims to become a member of the payment systems SWIFT, VISA, and MasterCard.
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The B2BPaySolutions office has been operating in London since February 2020. The company is currently hiring staff. It will include: a compliance department, an AML department to monitor suspicious transactions, a fraud prevention department, a legal department, and a technical support and client service department.
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B2BPaySolutions will use the B2Broker group’s technology solutions. The project launch will take place in early 2021.
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Previously, B2Broker unveiled the updated B2Core personal dashboard with a control panel and notification settings.
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