The Bank of Namibia has granted provisional authorisation to four entities under Namibia's new payment services and virtual assets licensing regimes. Finatic Technologies Pty Ltd and United PayPoint Pty Ltd received provisional authorisation to offer payment services, while Mindex Virtual Asset Exchange Pty Ltd and Landifa Bitcoin Trade CC received provisional authorisation to operate as virtual asset service providers. The move forms part of the Bank's two step authorisation process, under which applicants are first assessed for a provisional licence and can receive a full operational licence only after meeting pre authorisation conditions. The provisional authorisations are valid for six months. During that period, the entities must satisfy all pre authorisation conditions for full licensing and are not allowed to conduct any business or engage with individuals or entities in Namibia. If those conditions are met within the six month period, or earlier, the Bank may issue full licences that would allow the firms to begin official operations in Namibia.
Bank of Namibia2025-01-13
Bank of Namibia grants six month provisional authorisation to two payment firms and two virtual asset providers
The Bank of Namibia has given six month provisional authorisation to two payment services firms and two virtual asset service providers. The firms cannot operate in Namibia during that period and must first meet pre authorisation conditions for a full licence. Full licensing may be granted earlier if those conditions are satisfied.