NYDIG-Owned Payments Startup Bottlepay Obtains FCA Registration

The startup says it’s the first Lightning network-based firm to win approval from the U.K. regulator.

AccessTimeIconJan 11, 2022 at 9:12 a.m. UTC
Updated Jan 11, 2022 at 3:35 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Payments startup Bottlepay said it has been approved by the Financial Conduct Authority (FCA) to carry out crypto-asset activities in the U.K., making it the first Lightning Network-based firm to win permission from the country’s financial regulator.

  • Bottlepay, which is owned by bitcoin investment company NYDIG, allows users to make micropayments using messages on Twitter, Reddit and Discord on the Lightning network, a layer on top of the Bitcoin blockchain that enables transactions to be carried out more quickly.
  • FCA registration demonstrates that a firm has met the watchdog’s anti-money laundering and counter-terrorist financing regulations. The FCA became the overseer for such matters in the U.K. in January 2021, requiring all crypto-asset firms to register in order to continue to operate.
  • Bottlepay is based in Newcastle in northeast England and was purchased by New York-based NYDIG for around $300 million in stock last October. It is available in the U.K. and across Europe.

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Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.