Secures Australian Financial Service License has secured an Australian Financial Service License through its acquisition of The Card Group.

AccessTimeIconDec 2, 2020 at 9:32 a.m. UTC
Updated Dec 6, 2022 at 8:22 p.m. UTC
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Hong Kong-based has secured an Australian Financial Service License through its acquisition of a firm called The Card Group Pty Ltd.

  • The license has been approved by Australia’s Foreign Investment Review Board, which examines proposals by foreign entities to invest in Australia and will allow to work within the local regulatory frameworks, the firm said Tuesday. 
  • No details on the acquisition were provided after a CoinDesk request for information.
  • – which offers cryptocurrency exchange, payments and debits cards – recently announced support for Australian dollar transfers by allowing its users to directly deposit the currency to their Fiat Wallet via the app.
  • With the license in place, said it plans to launch its debit card in Australia going forward.
  • "We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission," said Kris Marszalek, CEO.
  • In late November, received preliminary approval from the Malta Financial Services Authority for two financial licenses that govern how payment companies operate and what services they can provide. 


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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

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