As the first blockchain-based company in Europe, the Danish company ZTLment secured a payment institution license from the Danish Financial Supervisory Authority in October 2022.
ZTLment offers a payment solution based on smart contracts on the blockchain. This enables automatic and fast payments based on the data and conditions of the specific smart contract. Complex payment needs are thus solved by automated workflows that reduce risks and ensure consistently timely payments.
With the license, ZTLment can offer its smart contract software to customers across Europe. The software enables customers to move fiat currency via blockchain technology using peer-to-peer transactions based on simple IF-THEN statements, while ensuring full compliance with European payment legislation (PSD2).
As Europe's first payment institution on blockchain, ZTLment can offer its pioneering service of condition-based withdrawals and digital asset transfers to customers across the continent.
Samar Law has advised ZTLment in connection with the process.
As Denmark's only specialist office within cryptocurrency and blockchain technology, Samar Law has extensive experience in advising companies working in this industry. If you want advice on licensing processes or general sparring, we encourage you to contact lawyer Payam Samarghandi at payam@samarlaw.dk or mobile 60793777 for a non-binding conversation.
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