Fiat Republic Secures £6.4M Seed Funding to Bridge Web3 and Conventional Banking

Fiat Republic, the London-based Banking-as-a-Service platform, secures £6.4 million in seed funding to strengthen its role as a leader in the web 2.5 space. Investors include Kraken Ventures, Fabric Ventures, Arca, and returning backers Speedinvest, Credo Ventures, and Seedcamp. The funds will fuel growth, enabling expansion into new regions, strategic hiring, and fortification of banking relationships.

CEO Adam Bialy emphasizes the significance of the Dutch EMI license, allowing Fiat Republic to offer e-money and payment services across the EU. The platform's unique API integration facilitates connections between cryptocurrency platforms and bank transfer networks, promoting collaboration between traditional banks, regulators, and crypto entities.

Established in 2021, Fiat Republic aims to change the narrative around cryptocurrency in traditional financial circles. The platform's coalition of cryptocurrency platforms emphasizes cooperation over conflict, contributing to the evolution of the Banking-as-a-Service landscape.

Fiat Republic's regulatory-first approach and commitment to bridging web3 and traditional banking receive endorsements from investors like Arca and Fabric Ventures. The platform's mission to transform banking for European cryptocurrency platforms gains support, reflecting confidence in its regulatory compliance and industry impact.