Bitstamp has stamped its name in the record books in the EU for being the first company of its kind to secure a national license to operate as a bitcoin exchange.
The company was awarded a license by the Luxembourg government, which recognizes it as a fully regulated, licensed exchange.
“This is an unprecedented moment for the bitcoin and brings with it a new era of security and transparency to the industry,” the company wrote on its blog.
Bitstamp explained that achieving the license was part of a “rigorous application process” through financial regulators that took close to two years. That included security reviews and audits. But now, Bitstamp’s license gives it access to operate across 28 EU Member States, providing all European customers with its bitcoin trading platform.
“Establishing our EU base in Luxembourg, a country that is known for its longstanding history as an international leader in ePayments and data privacy, as well as the European headquarters for many global players, including Amazon, PayPal and Skype, Luxembourg embodies an exceptionally strong infrastructure and the financial and security awareness we were seeking for this process,” the company wrote.
What this also means, according to Bitstamp, is that its customers can have the peace of mind that its services are secure, specifically because Bitstamp has gotten the regulatory recognition that was previously reserved for financial institutions. As part of the news, the company also announced it launched a BTC/EUR trading service to “better serve European markets.” And, as a promotion, it is offering free trading for what it refers to as its “loyal clients” for the next month.
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