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 advantage of offering this licensure opportunity The company aims to attract over 60 different key players in the high-risk space to the region by end of Q1 2023 Go to https://www.saxe-global.com/san- marino for more information.