Fiat Republic Acquires Paybase for UK EMI License, Raises $2.5 Million in Seed Extension

Fiat Republic, a UK-based web3 enabler, has acquired London-based fintech Paybase, securing an Electronic Money Institution (EMI) license in the UK

This acquisition enables Fiat Republic to provide payment services and issue e-money to crypto platforms in the UK via its developer-friendly API

The company also raised $2.5 million in an extension to its seed round, led by Credo Ventures, with participation from SoftBank Investment Advisers’ Emerge Program, Connect Ventures, and other investors

Fiat Republic aims to bridge the gap between banking and web3, providing regulated financial services to crypto platforms in the UK.