Fiat Republic, a London, UK-based startup building a compliance-first, e-money-regulated banking and payments API, secured $3.5m in seed funding.
Backers included Speedinvest, Seedcamp and Credo.
The company intends to use the funds to add to its 14-person team, and to accelerate acquiring regulated status in the UK and the EU.
Led by CEO Adam Bialy, CTO Martyna Lewinska, CCO and CGO Sophie Guibaud, Fiat Republic is building a compliance-first, e-money-regulated banking and payments API to bridge the gap between crypto platforms and banks. The company will emerge from its closed beta with existing customers in Q1.
Fiat Republic is also creating a consortium of crypto platforms, the “members” of the Fiat Republic Consortium, to get representation with regulators to lead standard-setting for the asset class and change its perception among traditional financial institutions. The consortium aims to promote responsible practices in the cryptocurrency industry, especially as firms are facing increased levels of regulation with the 5th Money Laundering Directive and further regulation likely in the coming years.
FinSMEs
15/02/2022