According to its website, the company aims to offer merchant banking solutions to the underserved fintech, digital, and SME sector. DAG already applied for a license in 2018, with the Prudential Regulation Authority and the Financial Conduct Authority but wasn't successful.
It now plans to resubmit the application in March 2020 with a view to offering bank accounts to crypto firms from 2021. So far, the UK banking sector has been notoriously averse to serving firms in the industry such as cryptocurrency exchanges.
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