• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
ICO Plans to Become World's First EMI Licensed Fiat & Crypto Payments Provider

ICO Plans to Become World’s First EMI Licensed Fiat & Crypto Payments Provider

Bitcoinist
by Bitcoinist
7 years ago
·
Posted in News, Altcoin News, Blockchain, FinTech, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Lithuanian startup Safein may soon be the first crypto/fiat provider with an EMI (Electronic Money Institution) license!


The modern-day e-commerce market is a veritable storm of international legislative and tax regulations. Though this situation has been true in fiat for much longer than with our beloved decentralized markets

Whilst I don’t agree with the sentiment of Bank of England (BoE) governor Mark Carney’s recent comments, his statements contain some concerning truths. Primarily that cryptocurrencies such as Bitcoin and popular altcoins have not yet proven themselves to be a replacement of traditional (also known as ‘fiat’) currencies. His comments amounted to a disregard of cryptos as a currency, stating that they are instead ‘assets’.

How Can We Fix These Crypto Concerns?

To truly take on the centralized forms of tender, and consequently, the institutions which are reliant on these economies, there are a lot of milestones which many of these flagship cryptocurrencies have disappointed us by passing on.

The closest thing to successfully disproving Carney’s comments are services such as Revolut- a payment solution that combines cryptocurrency services with fiat payments. Their exchange and payment service though are separate from each other, meaning that the service is overall wholly dependent on fiat currency.

The only issue is that the biggest coins come with extortionate transaction fees and exhibit high volatility on the markets.

They also take a long time to process transactions, including factors like redundant verifications and delays, in addition to no offer of compensation for users who have been defrauded by a crypto-based transaction.

https://youtu.be/xKu2TPwMJdg

Safein: the Paypal Killer, by Way of Decentralized Blockchain Technology

Amongst the debris and confusion, one phoenix has risen from the ashes. Safein is an upcoming revolutionary payments solution, formed by a rock-solid team and with an illustrative white paper & roadmap.

Formed by a trio of Lithuanian e-sports/gaming entrepreneurs, Safein is a promising, burgeoning solution which aims to be the next big thing in intermediary identity verification and payments processing. It also happens to have its own ERC-20 based token economy, resulting in a synergy that should (at the very least) prove Mr. Carney wrong.

Safein is almost like Paypal in its aspirations, however, once launched, it will be immediately supplanting it technologically by being the very first payment provider to seamlessly allow fiat and cryptocurrency transactions.

Merchants are incentivized with free transaction fees so long as they are holding the proprietary (SFN) token, as well as the ability to defer user privacy management to this innovative new platform. Token holding customers benefit from a referral scheme that trumps those that made PayPal and eBay famous.

Conclusion

After the ICO launch on April 25th (pre-ICO planned for 1 April 2018), the next big milestones on Safein’s roadmap include merchant and customer onboarding, and the acquisition of an Electronic Money Institution (EMI) license in the EU which will make them first combined crypto & fiat payment provider to do so.

You can find out more, or get involved with, this ground-breaking new project by visiting Safein’s website, or on their social media platforms (Facebook / Twitter / Medium).

Have you test-driven the Safein MVP? Can it unseat PayPal – especially if they are successful in obtaining their EMI license? Let us know what you think in the comments below.


Images courtesy of Safein

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Follow

Bitcoinist is the ultimate news and review site for the crypto currency community!

Full Profile

Related Posts

India

India Cracks Down: Stricter Rules To Combat Rising Digital Payments Fraud

21 hours ago
PrimeXBT: Top 5 altcoins to watch in 2025 

PrimeXBT: Top 5 altcoins to watch in 2025 

1 day ago
Philippines

Philippines Authorities Move To Put Key Public Records On Blockchain After Mass Protests

1 day ago
Altcoin OI Crash Signals Market Stress Beyond Bitcoin – $8B Wiped Out

Altcoin OI Crash Signals Market Stress Beyond Bitcoin – $8B Wiped Out

3 days ago
Dogecoin

Grayscale Seeks Big Breakthrough: Amended S-1 Filed To Convert Dogecoin Trust Into GDOG ETF

5 days ago
Blockchain

Blockchain Enters The City: London Stock Exchange Launches Private Funds Platform

1 week ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    1 day ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    3 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    4 days ago
  • Snorter надхвърли $4 милиона след...

    5 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.