It’s always darkest before the dawn.

BABB
2 min readNov 28, 2019

They told us that banks would ignore us. They told us that regulators would squash us. They told us there was too much mistrust in the [Blockchain and Crypto] technologies.

Founded in 2017, BABB (Bank Account Based Blockchain) set out to become the world’s first Blockchain Bank. The world wasn’t ready. But the tide is changing.

2019 has been a year of education, rebuilding and re-establishing. Our technology; our team; relationships; partnerships and perhaps, more importantly, rebuilding trust.

On 25th October 2019, the Financial Conduct Authority (FCA) announced that from 10th January 2020, businesses carrying on certain crypto asset activities will be in the scope of Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR).

We can now confirm with pride that as of the 27th of November, BABB has received notice that our first steps towards becoming a licenced company have been accepted. This is in line with the latest FCA directive that will require firms dealing with crypto to be registered.

BABB CEO, Rushd Averroës said “The team has been working incredibly hard on designing, building and delivering the BABB Beta but there have been too many external distractions.

“Upon release, we will be able to showcase the BABB Beta in a live environment for the first time and prove the naysayers wrong.

“More importantly, we will be taking our first steps towards putting an end to just talking about tech for good, or bolting it on for good measure for Corporate Social Responsibility (CSR).

“But for now, we’re going dark.”

They told us we couldn’t do it, but It’s always darkest before the dawn.

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BABB

Babb aims to deliver accessible, secure, convenient and cost-effective mobile banking services designed to serve the global microeconomy — https://getbabb.com