Fiat Republic has added another $7mn to its coffers to help bring cryptocurrency and traditional banking together.
In brief:
- Fiat Republic’s platform simplifies the process of crypto platforms connecting with global and local bank transfer networks, via a single API integration
- The extension round includes investors Speedinvest, Credo Ventures and Seedcamp who all backed the Banking-as-a-Service (BaaS) platform in its initial $3.5mn raise in February 2022.
- It already has an EMI licence in the UK where it has been operational for over a year, but has now acquired a new Dutch license.
What does this mean?
“With our newly acquired Dutch EMI licence, Fiat Republic will now operate across the entire European Union directly, providing e-money and payment services,” Adam Bialy, CEO and co-founder of Fiat Republic, said. "Passporting from the reputable and credible jurisdiction of the Netherlands not only boosts our legitimacy in the traditional finance world, but also highlights our commitment to high compliance standards, security, and close collaboration with regulators,” he added.
Read more here.
