Fiat Republic secures 7 million US dollars in a seed expansion round

Fiat Republic is driving its expansion forward with investments from Kraken Ventures, Fabric Ventures and others. Goal: strengthening bank partnerships and strategic hiring.

Fiat Republic has raised 7 million US dollars in a seed expansion round. The company, which offers Banking-as-a-Service (BaaS) and provides the link between web3 and traditional banks, has secured investment from Kraken Ventures, Fabric Ventures, Arca, and Inovo Ventures, as well as existing investors Speedinvest, Credo Ventures and Seedcamp. This funding is intended to support the company's continued growth and expansion. The funds are earmarked for strategic hires, strengthening banking partnerships and expansion into new markets.

In addition to its existing Electronic Money Institution (EMI) license in the UK, Fiat Republic has received a full EMI license from De Nederlandsche Bank (DNB). This new license enables the company to offer regulated financial services throughout the European Economic Area. Through this license, they can provide payment services and issue e-money to crypto platforms in the EEA via their own API.

Founded by a team from banking and fintech, Fiat Republic aims to facilitate access to traditional banking and payment services for cryptocurrency platforms. Through its platform, crypto platforms can connect to various global and local fiat payment networks through a single integration and compliance onboarding. The company is also working to build a coalition of crypto platforms to communicate more effectively with regulators and set standards for the asset class.

With our newly acquired Dutch EMI license, Fiat Republic will now operate across the entire European Union, providing e-money and payment services.

Adam Bialy, CEO & Co-Founder Fiat Republic

Adam Bialy, CEO and co-founder of Fiat Republic, emphasizes the importance of the new license for the company's expansion in Europe. The approval from the Netherlands not only signals legitimacy in the world of traditional finance, but also a commitment to high compliance standards and security.

Investors are also showing confidence in Fiat Republic's vision. Michal Benedykcinski from Arca emphasizes the importance of the platform to combine the requirements of web3 projects and traditional banking. Anil Hansjee of Fabric Ventures sees Fiat Republic's approach as timely and crucial for the development of financial services.

Fiat Republic, based in London, aims to improve the banking experience for crypto platforms in Europe. By integrating traditional finance and a compliance-oriented mindset, the company is trying to build a bridge between different financial worlds.