Digital RFQ Acquires FCA EMD Licence
London, United Kingdom – Tuesday 24th March 2020 – UK-based digital asset trading platform, Digital RFQ (DRFQ) announced that it has been granted approval from the Financial Conduct Authority (FCA) as an electronic money dealing (EMD) agent to coincide with the launch of its over-the-counter trading solution for professional traders, supported by OSL’s intelligent Request-
for-Quote (iRFQ) software-as-a-service (SaaS) technology and digital asset custody solution.
DRFQ is now fully licensed by the Financial Conduct Authority to issue electronic money (e-money) and provide fully regulated payment services. DRFQ works within a very tight set of constraints to ensure compliance for all stakeholders and has all the appropriate controls in place for their financial services activities.
With the OTC platform launch, DigitalRFQ offers Sterling, Euro and US dollar FIAT gateways to facilitate “single-click” trading in the top five cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ripple (XRP), significantly reducing forex costs and deposit-to-trade execution times. “DRFQ provides institutional grade KYC and KYB, market-leading fiat transfer and handling times, high- trade execution, multiple secure custody options, and exceptional customer service,” said DRFQ CEO Mike Greenacre. “As digital assets continue to be
widely adopted, we believe that the best guarantee of acceptance and longevity will be transparency, governance and oversight, and this is what DigitalRFQ provides, underpinned by performance, security, integrity and the right partnerships.” OSL’s iRFQ SaaS technology enables seamless buying, selling and instant settlement of digital assets in either single token, or
DigitalRFQ also leverages OSL Custody to store digital assets. This includes insured wallets, protected in best-in-class military-grade security measures, multi-layer security protocols and air-gapped cold storage. Digital asset deposits with Digital RFQ are insured against loss, private key damage, destruction or theft by a panel of London based underwriters rated A or higher by S&P.
“We’re thrilled to be Digital RFQ’s SaaS technology and custody partner,” said OSL CEO Wayne Trench. “These solutions will assist the company to deliver value to its clients and enable the highest quality of service to the rapidly growing digital asset sector in the UK.” DigitalRFQ accepts individual trades of up to 500,000 USD with transparent pricing for the top five trading pairs against USD, EUR and GBP on the platform at launch.