Januar, a Danish startup founded by former Chainalysis staff, has obtained a Payment Institution License from Denmark’s Financial Supervisory Authority. The license enables the company to operate in 30 European Economic Area markets, whereas it had previously only served Danish firms under limited permission. Januar offers International Bank Account Number (IBAN) business accounts to crypto companies, giving them access to compliant fiat banking services like payments and settlement, which they might struggle to obtain otherwise.
Januar’s co-CEO Simon Ousager noted that access to banking and reliable payment infrastructure has lagged behind the pace of innovation in the crypto space. However, the licensing of Januar marks a significant step in the opposite direction. The company broke the Danish record for startup funding by receiving €6m ($6.5m) in seed money, led by Element Ventures, in 2022.
