Billon picks up $2m for ledger-based banking services

Distributed ledger-based payments firm Billon has raised $2m in funding from a collection of unnamed UK investors.

Originally founded in Warsaw, Poland the company is now based in London and says it is accepted by the Financial Conduct Authority in the region.

The startup is part of a shortlist of companies granted permission to test their ideas in a regulatory sandbox.

Billon aims to offer mobile digital banking services to those without a bank account through its distributed ledger technology that turns fiat currency into digital cash.

Its services include payments, automated salary payments, digital bank accounts, loans and remittances.

It says its environments are secure and regulated for electronic currency transfers as well as being complained with KYC and AML procedures.

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