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April 25, 2019

Billon obtains regulatory nod to offer e-money services in Poland

Billon Solutions, part of Billon Group, has secured e-money licence from the Polish Financial Supervision Authority.

The firm is said to be the first distributed ledger technology (DLT) company in Poland to bag the licence, for which it applied last August.

The approval enables the firm to offer payment services in national currency.

Among these services are keeping an electronic money account, issuing payment instruments and exchanging currencies or remittance.

All this will be done leveraging Billon’s DLT enterprise system.

As a regulated electronic money institution in Poland, Billon also gains the ability to issue e-money in the form of a national currency.

The e-money issued will have the same value as cash.

Moreover, the licence enables the firm to offer its services in other EU markets utilising its passporting rights.

Wojtek Kostrzewa, Billon Group CEO said: “The e-money licence is a milestone in Billon’s development.

“With it we will be able to offer companies all over Europe a whole range of accounts and payments solutions that unleash the potential of our high-performance DLT system.

“We can present a wide range of B2B2C applications, such as P2P transfers, micropayments for multimedia content, e-commerce, or corporate payments at much lower cost than with legacy banking systems.”

Billon has offices in London and Warsaw and over 80 employees.

The firm already has a licence from the Financial Conduct Authority, which enables it to issue electronic money in the UK.

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