SAXE Global and PSP angels announce their status as the official banking representative of the Republic of San Marino opening up access for Crypto, Forex and I-Gaming companies to the region. Find out more at https://www.saxe-global.com/san-marino
SAXE Global LTD 13 Hanover Square, Mayfair, London, London W1S 1HN, United Kingdom
Website https://www.saxe-global.com/
Phone +44-20-8050-4849
Email info@saxe-global.uk
SAXE Global and PSP Angels
Open Up Access to the San Marino
Banking System
The initiative seems to attempt
rejuvenating a long, well-
established financial tradition. As
the world's oldest independent
republic, the country's finance
sector has long been a traditional
mainstay of the Republic's
advanced economy, with a per-
capita GDP of over $45,500
The company facilitating access to San Marino's banking
system for businesses involved in cryptocurrencies, e-
payments, forex brokerage, and online gaming, as well
as spearheading the representation of the country's
licensing initiatives in the crypto field backed by "key
local decision makers"
Eschewing a tax haven business
model that depended on Swiss-
style banking and tax secrecy - the
country now seems to be moving
towards a more diverse and
modernized growth-centric
approach.
SAXE claim that San Marino's
trade union with the EU will
provide newcomers utilizing the
local banking system all the
functionality of a "Tier-1" European
Bank and Acquirer whilst at the
same time exempting local
institutions of some EEA
regulatory requirements.
San Marino's trade union with the EU
provides all the capabilities of a Tier-1
Bank and processor while also
exempting it from the majority of the
EEA's regulatory requirements.
The initiative's goal is to make San Marino
an international transactional banking hub
on-par with Europe's open-minded fintech
darlings of Switzerland, Luxembourg and
The Baltics - attracting innovative fintech
companies and online businesses to the
region
Such approach is perceived to be
increasingly important, as more
and more companies look towards
"Steadier shores" when it comes
to corporate banking and
payments services, with some
actively moving away from the
overheated e-money and offshore
banking market
As MiCA comes into effect, it is yet unclear how San
Marino will position itself alongside crypto powerhouses
of Europe whilst regulating crypto companies, however
with expanded guidance expected to be released in early
2023, SAXE aims to take full