Viva Wallet acquires banking licence
Viva Wallet has officially acquired the banking license of Praxia Bank on 3rd August after the completion of the share purchase agreement between AMC Oak (Shareholder) and Viva Wallet Holdings (purchaser).
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The e-money institution, which already operates in 23 countries within EEA, has become one of the few neobanks that owns a banking license.
The banking license will allow Viva Wallet to serve a broader set of its customers’ needs including loans and saving products, due to be announced by the end of 2020.
Makis Antypas, Viva Wallet’s CIO and Co-Founder, will be appointed as the new bank’s CEO and Vassilis Trapezanoglou will serve as non-executive President.