Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Januar ApS (januar.com), the financial services partner for crypto businesses, today announces it is launching its real-time payments network, Januar Instant Network (JIN).
The always-on nature of crypto markets requires that businesses are always able to move in and out of positions. In live markets that are tradeable 24/7/365 companies simply cannot wait to move funds while the market continues to go up or down. They need to be able to act and execute instantly, and this is the core problem JIN solves.
In March 2023, both SEN and Signet were discontinued, leaving crypto businesses with no access to instant fiat settlement networks. Networks like Silvergate SEN Network had a transfer volume of $117B in Q1 2022 and played a pivotal role for both US and EU crypto market participants. Since the closure of these networks, the industry has been looking for similar, viable solutions. With the launch of JIN, Januar is offering a compliant, instant payment network solution ready to serve crypto industry specific needs.
Payments have long been a point of frustration for individuals and businesses alike due to the complexity and intermediaries involved. With the traditional banking system's cut-off times, limited operating hours, and varying procedures across jurisdictions, making payments can often feel like a slow and broken process. JIN aims to eliminate these obstacles, offering a simple, secure, and streamlined solution for businesses to make payments without any constraints on size or frequency. With JIN, businesses will have the freedom to choose between settlement models that suit their operating models.
All Januar customers will automatically become members of JIN and have the power of instant when they transfer funds to other JIN members. All JIN participants will have undergone Januar’s rigorous compliance-first onboarding process in line with the Danish Financial Supervisory Authorities (DFSA) regulatory guidelines. This reaffirms Januar’s commitment to providing members a secure network they can trust.
"Our goal at Januar is to create an always-on settlement infrastructure that supports the 24/7 nature of the crypto industry," says Simon Ousager, co-CEO of Januar. "With JIN, we're offering crypto businesses the ability to make free, real-time, and secure payments.”
“Crypto businesses need a trusted network that eliminates settlement risk. Counterparty risk is top of mind for the crypto industry. Instant fiat settlement allows a company to minimise the exposure towards their counterparties, effectively reducing their counterparty risk as well as settlement risk of transactions.
“The launch of Januar Instant Network marks the next chapter in reliant and instant settlement infrastructure for the crypto industry. We believe we are seeing the future of payment networks being built in front of eyes and JIN is a leader in the new wave of fast connected cross-border networks,” continues Simon Ousager, co-CEO of Januar.
“Access to banking and reliable payment infrastructure has always been lacking behind the general pace of innovation in the crypto space, and the recent events with “crypto-friendly” banks shutting down is a testament to this unfortunate industry trend. With the launch of Januar Instant, we are taking a huge step in the opposite direction. To all the entrepreneurs and innovators out there is a clear message: if you are a legitimate European business working with crypto then Januar is here to provide you with the account and payment infrastructure you need to operate successfully and build the financial system of tomorrow,” adds Simon Ousager, co-CEO of Januar.
Digital assets and decentralized transaction systems are faster, better, and cheaper, changing the way value moves between people and businesses globally. Europe, at the moment, is an underserved market in this respect. Januar is changing that by offering crypto-friendly financial services for businesses across Europe, starting with payment accounts for crypto businesses.
Through the JIN payment network, Januar is becoming the leading provider of payment account solutions and financial service infrastructure for the EU crypto industry. The company is on a mission to enable the future of finance by supporting innovative crypto businesses with the financial services needed to grow their businesses.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.