“Living Room of Satoshi” Becomes the First Company to Obtain Australian Financial Services License
- The Bitcoin bill payments company now will be able to extend the scope of its business with full service and larger bill payments
The cryptocurrency payments gateway, Living Room of Satoshi has been granted the very first Australian Financial Services License.
Huge news! We've been granted an Australian Financial Services Licence (AFSL) – the first Bitcoin company in Australia to do this! https://t.co/1cC0Z5DiKf
— LivingRoomOfSatoshi (@roomofsatoshi) August 23, 2019
Launched in May 2014, Living Room of Satoshi honors Satoshi Nakamoto, the pseudonymous and mysterious creator of the original Bitcoin software with its unusual name.
It allows its customers to pay phone bills, credit cards, taxes, school fees and other expenses using Bitcoin.
“This achievement is the first of its kind in Australia and is testament to our great team,”
said CEO of Living Room of Satoshi, Daniel Alexiuc.
The company boasts of being the first one to meet the “rigorous” requirements of licensing process that includes compliance, insurance, training, and dispute resolution that it says demonstrates “its maturity as a financial services business.”
“The licence allows us to expand the scope of Bitcoin payments in Australia, with larger bill payments for consumers, and full-service payment facilities and APIs for businesses,”
The Bitcoin bill payments company is also “proud” of being instrumental in the rapid growth of Bitcoin payments in Australia, having processed about $100 million of bill payments in cryptocurrency