DCIL Participating Companies

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Participating companies in the DCIL were admitted through 2 application rounds.

Cohort 1

The first round of applications started from March 17 to May 1, 2020. We received submissions from 19 companies. Following a comprehensive review, 12 companies who fulfilled the conditions of the program were selected to join the DCIL. The program officially started on August 19, 2020.

Cohort 2

The second round of applications were held from January 19 to February 26, 2021. 14 companies applied, among which 4 were admitted into the DCIL.

All participating companies will be given a specific duration to engage in digital currency transactions up until June 30, 2022, following which there will be a wind-down period ending December 20, 2022. DFI has issued a “no action message” – stating that “no action” will be taken against companies conducting what DFI would consider unlicensed money transmission activity, since they have been successfully admitted into the program. DFI will monitor all digital currency transactions taking place in the Digital Currency Innovation Lab.

Participating companies are expected to adhere to the terms and conditions of the Digital Currency Innovation Lab.

Please note:
As of January 13, 2021 – Robinhood is no longer a participant of the Digital Currency Innovation Lab.

Apex Crypto LogoChicago-based Apex Crypto offers consumers the opportunity to purchase, store, and sell virtual currencies through partnerships with the registered broker-dealers that clear securities trades using the Company’s affiliated entity Apex Clearing Corporation. Digital currencies currently supported include Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.


Cohort 1 | Service Ready | Visit Website
BitFlyer LogobitFlyer USA - bitFlyer is Japan's largest digital currency exchange with $1b+ in daily trading volume, and the only exchange licensed in the US, Europe, and Japan. Founded in 2014, it provides retail and institutional investors secure custodial wallet services for both legal tender and digital currency to facilitate trading activity. In 2017, bitFlyer expanded to the US and is now available in 48 states and territories. bitFlyer USA is a wholly owned subsidiary of bitFlyer Holdings, Inc. (based in Tokyo, Japan) and is headquartered in San Francisco, California.

Cohort 1 | Service Ready | Visit Website
BitStop LogoBitStop was created to give users an easy way to buy digital currency. Its ATMs are user friendly and will guide you step by step. Buying and participating in digital currency is empowering and should be made easily accessible to all. BitStop pledges to pursue this goal and build the best technology they can to help you buy, store, and save digital currency.


Cohort 2 | Service Ready | Visit Website
Blockfi Trading LogoBlockFi offers financial products that enable cryptocurrency holders to put their crypto to work. The company services customers worldwide, including 47 U.S. states, with interest-earning accounts and low-cost USD loans backed by crypto. BlockFi is backed by leading institutional investors and operates with a focus on compliance with US laws and regulations.


Cohort 1 | Service Ready | Visit Website
CEX.IO logoCEX.IO is a marketplace for customers who want to instantly buy/sell cryptocurrencies, trade crypto assets, or exchange them for fiat currency. The company was founded in London in 2013 and established a dedicated US office in 2019, and now offers services from customers in 47 US states and 220 countries worldwide. Customer's may fund their account using instant ACH, credit cards or wire deposits and can receive the crypto of their choosing in their wallet within 90 seconds. CEX.IO provides a rich variety of innovative trading tools for Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and other assets through its fully functional mobile app or online platform.

Cohort 1 | Service Ready | Visit Website
Cloud Nalu LogoCloud Nalu is a Hawaii-based technology solutions company that provides companies with blockchain development and integration services. These services include:
• Setup of crypto currency wallets, point of sale integrations, & custody services
• Development of smart-contracts, applications, and distributed ledger integrations
• Setup of mining equipment and asset tracking systems
• Providing a medium of exchange for businesses to buy, sell, and trade cryptocurrency and fiat money (2021)

Cohort 1 | Service Ready | Visit Website
Coinme logoCoinme is a blockchain financial services company dedicated to helping the world gain access to virtual currencies. The company provides services that give customers a safe and easy way to join the world of virtual currencies, including (i) the world's largest network of bitcoin kiosks where a user can purchase bitcoin with cash and (ii) a custodial digital wallet, where a user can safely store their virtual currencies.


Cohort 1 | Service Ready | Visit Website
ErisX logoHeadquartered in Chicago, Illinois, Eris Clearing operates an online-based cryptocurrency exchange platform through which customers may engage in transactions to purchase or sell certain cryptocurrencies (including Bitcoin, Ethereum, and such other cryptocurrencies as permitted by Eris Clearing from time to time) in exchange for fiat currency or another permitted cryptocurrency.


Cohort 1 | Service Ready | Visit Website
Flexa NetworkNew York-based Flexa operates a merchant payment network. Its suite of products provides consumers with the opportunity to make instant payments in stores and online using a variety of digital assets (such as digital dollars, tokens, and cryptocurrencies) and provides merchants with the ability to receive settlement in either digital assets or US dollars directly.


Cohort 1 | Service Ready | Visit Website
Gemini Trust logoGemini Exchange, LLC is an institutional-grade, regulated digital asset exchange and custodian. Through Gemini's online platform, customers may buy, sell, and store digital assets in a regulated, secure, and compliant manner. Founded in 2014 by Cameron and Tyler Winklevoss, Gemini is a New York-based trust company regulated by the New York State Department of Financial Services. It also created the Gemini Dollar ("GUSD"), the world's first regulated stablecoin, which is strictly pegged at a 1:1 ratio to the U.S. dollar.

Cohort 1 | Service Ready | Visit Website
Novi Financial logoNovi Financial, Inc. (“Novi”) is changing the way money moves. Novi intends to offer a new digital wallet service for the diem payment system. Novi is from Facebook, so you’ll be able to access it from your favorite apps.

Novi’s motto is: “A connected wallet for a connected world.”

Cohort 1 | Service TBD | Visit Website
Provenance Technologies logo Provenance Technologies, Inc. ("PIT") is a registered MSB in the US and Canada. We provide a crypto-fiat payments connection and regulated compliance solutions for some of the most innovative projects in the world. At present we are managing the regulated activity associated with Rally (Rally.io), a new protocol that allows creators and their fans to benefit from blockchain technology.


Cohort 2 | Service TBD | Visit Website
River Financial logoRiver Financial is a challenger financial institution specializing in Bitcoin financial services. River Financial's flagship product, a Bitcoin brokerage, provides sophisticated retail investors with a high-touch platform to buy and sell Bitcoin. Founded in early 2019 by Alexander Leishman and Andrew Benson, River's brokerage product provides its clients with best-in-class security, a world-class client service experience, and investment performance tools such as cost basis tracking.

Cohort 1 | Service Ready | Visit Website
SoFi LogoSoFi Digital Assets, LLC is the cryptocurrency investing arm of SoFi Invest. Through the platform, you can trade Bitcoin, Ethereum, Dogecoin, Cardano, and 18 more coins - 24/7. Plus SoFi's secure platform ensures your holdings are protected against fraud and theft. Make your first crypto trade, and SoFi will give you $10 in bitcoin. SoFi was founded in 2011 as "Social Finance, Inc." by Stanford Business school students.


Cohort 2 | Service Ready | Visit Website
UpHold LogoUphold HQ, Inc. is a digital money platform serving more than 7 million customers in more than 150 countries. Uphold today holds around $2.5 billion in customer assets. The Silicon Valley firm opens around 16,000 accounts a day typically as consumers seek a more versatile and cost-effective home for their financial lives. Leveraging blockchain technology, the platform provides both consumers and businesses with easy access to 51 digital assets, 28 national currencies, four precious metals and 50 fractional U.S. equities. Not all assets are available in all regions. Uphold’s unique trading experience - ‘Anything-to-Anything’ - allows customers to trade directly between asset classes, saving time and money. Uphold supports financial inclusion by enabling customers virtually anywhere to open an account in less than 5 minutes and invest with no minimum amounts. Customers can send money to virtually anyone with an email address free of charge.

Cohort 2 | Service Ready | Visit Website

 

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