In a landmark development, Danish fintech startup ZTLment has become the first in Europe to obtain a European-wide license, enabling fully regulated payments atop blockchain technology. This pioneering license positions ZTLment to fulfill the potential of blockchain in facilitating secure and regulated money movement for customers and businesses across the continent, ZTLment said in a press statement.
Having successfully passported its payments institution license across the European Economic Area (EEA) countries, ZTLment can now initiate business payments using traditional fiat money on the blockchain through innovative ledger infrastructure.
Mads Stolberg-Larsen, CEO and co-founder of Copenhagen-headquartered ZTLment, emphasizes the transformative benefits of this technology, stating, “Businesses can instantly and automatically move money and value.” He notes that the user experiences have now been tailored for business workflows, addressing compliance with European payments regulations.
This achievement signifies a turning point, showcasing that real money can be utilized on decentralized rails with simple IF-THEN statements. ZTLment’s solution empowers companies with complex payout needs to automate operations, reduce risks, and ensure timely payments to merchants and strategic suppliers.
Compared to traditional financial rails, which are often slow, costly, and prone to bottlenecks, blockchain rails provide a superior alternative. The inherent characteristics of blockchain, including faster transaction processing, lower fees, and enhanced security, offer businesses a more efficient and cost-effective payout infrastructure.
ZTLment has already gone live in specific sectors such as events and ticketing, affiliate networks, marketplaces, and digital content platforms. This development is part of a broader trend where regulated financial institutions are seeking modern ledger infrastructures, with giants like Citi exploring blockchain and smart contract technologies for institutional clients, the statement said.
