Fintech Upvest receives custody license for cryptocurrencies

Upvest provides an Investment API with which customers can offer their end users investments. The company secured a crypto custody license from the German Federal Financial Supervisory Authority (BaFin). This BaFin license is the 5th license that the startup has received. With its four additional licenses, Upvest can offer its customers other custody solutions and asset classes such as shares, securities, and ETFs in addition to cryptocurrencies.

The startup is working on a brokerage-as-a-service with which they want to take care of processing, handling, and regulation. Future customers will integrate the Upvest solutions into their own offering via an API interface. Investors of the fintech include N26, Earlybird, HV Capital, Notion Capital, ABN AMRO Ventures, and Speedinvest.