Prasos Secures Payment Institution License

On the 12th of July, an official announcement was made on Prasos crypto exchange site. Prasos a Finland – based cryptocurrency firm, secured a payment institution license through the Finnish Supervisory Authority (FFSA).

Prasos reportedly operates a crypto exchange, Bitcoin (BTC) ATMs, and a crypto investment platform. The firm is the third crypto firm in Europe to secure a payment institution license. Prasos stated that with its new license, Coinmotion (it's crypto investment platform) now supports s payment service in the European Economic Area (EEA). The license would allow smother transactions with traditional financial institutions and banks, also increase its capabilities with traditional fiat money.

The managing director of Prasos Oy’s Heidi Hurskainen stated that it took about a year and a half to complete the application process, he further noted that over this period the crypto legislation within the EU has become clearer. Prasos is reportedly planning to apply for a virtual currency provider license in May.

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