💰Taler Operations AG to Apply for BaFin E-Money Licence
Taler's EU Payment System Moves Closer to Reality
TL;DR
Taler Operations AG, founded in Bochum, aims to make Taler legally available in the EU. The company will apply to BaFin for an e-money licence, enabling payments in Germany and the Euro-zone.
Taler Operations AG, a new company set up in Bochum, Germany, is applying for a licence from BaFin, Germany's financial supervisory authority, to operate Taler as an e-money system in Euro. This move is a significant step towards making Taler legally available for everyday use in the EU. Developers and businesses interested in a privacy-focused payment system should watch this space, as it could impact how financial transactions are handled in the digital space. The company plans to launch operations once BaFin grants the authorisation, with a minimum investment of €50,000 required for interested investors.
Key Points
Taler Operations AG, a German stock corporation, is set to apply for an e-money licence from BaFin.
The company will operate a GNU Taler exchange in Germany for the Euro, allowing citizens to pay with Taler and merchants to accept it.
Taler is a payment system, not a currency, and issues bearer tokens to represent value, like coins, under EU regulation.
GLS Bank initially planned to take on the role of e-money issuer for Taler but decided not to pursue this role further.
The minimum investment required for interested investors is €50,000, with the company seeking funding to launch operations.
Why It Matters
If you're developing a privacy-focused payment system or integrating financial transactions into your app, Taler Operations AG's move towards a BaFin licence is crucial. It could pave the way for a new standard in secure, anonymous payments. However, the €50,000 minimum investment means smaller players might need to wait for partnerships or integrations.
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