• BNXA UK VASP was added to the U.K. Financial Conduct Authority’s crypto registry on Friday.
  • The firm is now able to serve U.K. customers after landing on the FCA Crypto Register.

On Friday, the U.K. subsidiary of Payment Infrastructure Provider Banxa (BNXA), became the first company in 2024 to join the Financial Conduct Authority’s Crypto Register.

BNXA UK’s VASP is now on the list of regulators, allowing it to offer crypto services to U.K. customers. According to her LinkedIn profile, the company’s general manger, Brinda Brinda was also director of compliance for Melbourne-based Banxa whose shares are traded on the Toronto Stock Exchange until February.

Banxa offers fiat processing services to customers of cryptocurrency exchanges such as Binance and OKX, neither of which have FCA crypto approval. Banxa handles identity verification and transactions.

To offer promotions in the UK, companies must either be registered at FCA or have their promotions approved by a firm authorized. Despite being registered, firms do not automatically have the right to approve promotions from other companies. Unregistered companies were forced to withdraw services from some clients in order to comply with the rules. Binance has, for instance, decided to cease accepting new U.K. customers, and is having difficulty finding firms that are eligible to approve its advertisements.

Banxa did not respond to a comment request by the time of publication.

Read More: Why some crypto firms are suspending services in the U.K.

Sheldon Reback is the editor.