Fiat Republic Raises €6.4 Million to Bridge Web3 and Conventional Banking

Fiat Republic, a London-based specialized Banking-as-a-Service (BaaS) platform, has raised €6.4 million in a seed extension round to bolster its mission of merging traditional banking and cryptocurrencies. Notable investors, including Kraken Ventures, Fabric Ventures, and Arca, joined returning investors Speedinvest, Credo Ventures, and Seedcamp. The substantial funding will support Fiat Republic's growth, enabling expansion into new regions, strategic hiring, and strengthening banking relationships.

CEO and co-founder Adam Bialy highlighted the significance of the investment, emphasizing the company's vision as a market leader in the web 2.5 space. With the acquisition of a Dutch EMI license, Fiat Republic can now provide e-money and payment services throughout the European Union, further enhancing its legitimacy and commitment to compliance and security protocols. The platform facilitates connections between cryptocurrency platforms and global bank transfer networks, aiming to redefine the relationship between traditional banks, regulators, and crypto platforms.

Fiat Republic's regulatory-first approach aligns with its goal of transforming the Banking-as-a-Service landscape. The platform's developer-friendly API and Dutch license enable it to offer regulated financial services to EEA crypto platforms. The company, founded in 2021, is focused on fostering collaboration between traditional financial circles and the crypto space, emphasizing cooperation over conflict.

Investors, including Arca and Fabric Ventures, express confidence in Fiat Republic's mission to bridge the gap between web3 and traditional banking. The investment reflects strong support for Fiat Republic's regulatory-first strategy and its potential to revolutionize banking for crypto platforms across Europe.