Relay wants to ignite the next stage. As BTC-ECHO learned from the company, they are aiming for a European license in accordance with the new MiCA regulation. If successful, Relai would be the first Bitcoin-only company with a MiCA license.
The application process was started in France with a view to a digital asset service provider license (DASP). In terms of European regulation, if successful, this would automatically be converted into a MiCA license from January 2025. Relai is already active in some EU countries, including Germany. However, the MiCA license grants the start-up additional powers such as marketing, maintaining EU bank accounts and availability in all national Apple App Stores. The company informed us of this on request.
So far, Relai has not been allowed to engage in direct EU customer acquisition.
Relai CEO Julian Liniger told BTC-ECHO:
Accordingly, this will result in immense growth potential for us and will help us to further strengthen our market leadership in the Bitcoin-only area in Europe.
Relai founder Julian Liniger
Lightning integration coming soon?
In addition to the ambitious goal of becoming the first MiCA-regulated Bitcoin company, the developers are currently working on a Bitcoiner heart project: the integration of the second-layer network Lightning.
Hardly any feature is more in demand from the Bitcoin community. This would allow trades and deposits and withdrawals to be carried out almost in real time.
Ex-Rothschild executive joins Relai executive team
Patrik Gilli is supposed to help with the ambitious plans. Relai signs the ex-Rothschild executive as Chief Financial Officer (CFO) effective immediately. Gilli has over 20 years of experience in the traditional financial sector. He is tasked with maintaining the company’s financial discipline and pursuing innovative growth strategies.
In any case, the start-up is flying high. According to the company, the Relai app has more than 230,000 downloads and 75,000 active users.
The Zurich-based company could only complete a financing round of 4.5 million US dollars in March. The investment round was led by Ego Death Capital. Other investors include Timechain, Cabrit Capital and Lightning Ventures.
You might also be interested in this