New UK Bitcoin Exchange Backed by Regulated E-Money Company

[Coinbuddy]

The Digital Securities Exchange (DSX), a new UK-based Bitcoin exchange, has launched with the backing and support of ePayments Systems Ltd. ePayments Systems is an electronic money firm, which has been legally authorized by the Financial Conduct Authority (FCA) since July of 2015.

Mike Rymanov, the founder of both DSX and ePayments Systems, stated that the decision to start the Bitcoin exchange was a move to capture the sterling-Bitcoin market, which has remained largely untouched thus far.

Read more: http://www.coinfinance.com/news/new-uk-bitcoin-exchange-backed-by-regulated-e-money-company

[pawel7777]

Sounded like a great news at first, but I've checked and it looks like the ePayments Systems Ltd is not on FCA register. Looked up by name and post code and it's not showing in results.

http://www.fsa.gov.uk/register/firmMainSearch.do

The company was registered in 2012, its total share capital is £1. The latest annual accounts (July 2013) are abbreviated (small company exemption) and show net liabilities of £6,415.

[hl5460]

Sounded like a great news at first, but I've checked and it looks like the ePayments Systems Ltd is not on FCA register. Looked up by name and post code and it's not showing in results.

http://www.fsa.gov.uk/register/firmMainSearch.do

The company was registered in 2012, its total share capital is £1. The latest annual accounts (July 2013) are abbreviated (small company exemption) and show net liabilities of £6,415.

Thanks for the pointer. It's always a good idea to run a background check.

[loiterin9]

Sounded like a great news at first, but I've checked and it looks like the ePayments Systems Ltd is not on FCA register. Looked up by name and post code and it's not showing in results.

http://www.fsa.gov.uk/register/firmMainSearch.do

The company was registered in 2012, its total share capital is £1. The latest annual accounts (July 2013) are abbreviated (small company exemption) and show net liabilities of £6,415.

Thanks for the pointer. It's always a good idea to run a background check.

You should run a better check https://www.fsa.gov.uk/register/2EMD/2EMD_MasterRegister.html

ePayments FRN 900172.

Issued share capital £280,000 which roughy EUR 350,00 required for their license

[batesresearch]

The news article is dated Jan 30th 2015.  Any update since?

[loiterin9]

E-money regs is something I know about. Came across these guys some time ago thought they were quite bold getting involved with bitcoin and both cos DSX and ePaymens are linked same director.

Update on the research 

[Hazir]

And here we go again:

The Digital Securities Exchange is also offering a debit card service; the exchange will provide a prepaid MasterCard that users can deposit funds into,
and can then use it to make purchases or withdraw cash from an ATM.
 
Are we really that desperate to pay for another bitcoin debit card and feed another set of middle men all that to be able to use bitcoin freely?

[loiterin9]

And here we go again:

The Digital Securities Exchange is also offering a debit card service; the exchange will provide a prepaid MasterCard that users can deposit funds into,
and can then use it to make purchases or withdraw cash from an ATM.
 
Are we really that desperate to pay for another bitcoin debit card and feed another set of middle men all that to be able to use bitcoin freely?

Mate you hit the nail on the head!!!

But it really depends what you want. How do you access most of your funds now? I assume and correct me if I'm wrong, via plastic? So why does it surprise you to access bitcoin via plastic. A card is just means of accessing funds regardless the form they are stored. Plastic is not going anywhere. I think if you ePayments/DSX can come up with a funky way of using both plastic and bitcoin. Than hey for them. In the mean time I have not seen any decent bitcoin cards out there. They are all rubbish and expensive just because all these companies are feeding a lot of middle man. If these guys can reduce the cost and make it sexy we will see.

[tiggytomb]

And here we go again:

The Digital Securities Exchange is also offering a debit card service; the exchange will provide a prepaid MasterCard that users can deposit funds into,
and can then use it to make purchases or withdraw cash from an ATM.
 
Are we really that desperate to pay for another bitcoin debit card and feed another set of middle men all that to be able to use bitcoin freely?

Exactly, a bit of patience and these guys will not be relevant anymore as Bitcoin will be accepted everywhere.  Seeing far too many of these pre paid cards about now with quite high rates.

[loiterin9]

And here we go again:

The Digital Securities Exchange is also offering a debit card service; the exchange will provide a prepaid MasterCard that users can deposit funds into,
and can then use it to make purchases or withdraw cash from an ATM.
 
Are we really that desperate to pay for another bitcoin debit card and feed another set of middle men all that to be able to use bitcoin freely?

Exactly, a bit of patience and these guys will not be relevant anymore as Bitcoin will be accepted everywhere.  Seeing far too many of these pre paid cards about now with quite high rates.

Oh the holy grail of  bitcoin - global acceptance..... Not there yet........... Will it ever?