Kantox, the specialist hedging solutions company, has gained registration from the Financial Services Authority (FSA) as a Payment Institution. Kantox is the world’s first ‘peer to peer’ hedging solution, offering a credible and cost effective alternative to banks for companies needing to hedge their foreign exchange risk.
Hedging foreign exchange is not in itself an activity regulated by the FSA. However, the FSA does regulate Money Remittance which is an integral part of Kantox’s service and for which it has gained registration.
Philippe Gelis, Kantox’s CEO commented “we are delighted at having received registration from the FSA. We have a highly innovative product and are committed to providing the highest possible levels of service to our customers. Achieving FSA registration highlights that commitment.”
Kantox were advised by city consultancy Compliancy Services for the management of their FSA application and on-going FSA Compliance issues.
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