Fiat Republic
Fiat Republic Financial Services Ltd
Fiat Republic is a compliance-first Banking-as-a-Service platform that lets crypto businesses access regulated banking infrastructure through a single API: virtual IBANs, SEPA rails, real-time settlement, FX conversion and a proprietary compliance monitoring tool (Oxygen). It is not a bank and does not offer consumer deposit accounts or credit.
Data & conditions
| Service type | Stablecoin infrastructure |
|---|---|
| Pricing model | Not disclosed |
| Settlement time | SEPA-Instant |
| Fiat rails | SEPA, SEPA-Instant |
| Customer type | Fintech, Platforms, Marketplace |
| Fund custody | Custodial (platform holds funds) |
| Supported countries | EEA, UK |
| Regulator | FCA (UK) + DNB (Paesi Bassi) |
| OAM Italy registration | No |
| Segment | B2B |
| Funding / solidity | Founded as a compliance-first BaaS for crypto; $3.5M seed round (Speedinvest, Seedcamp, Credo) plus a seed extension with Kraken Ventures, Fabric Ventures, Arca and Inovo. |
| MiCA / License status | FCA EMIDNB EMIMiCAR (AFM custody EMT) FCA EMI (UK, ref. 900524) + DNB EMI + MiCAR (AFM) for EMTs |
Strengths
- Regulated as an EMI by the FCA (UK) and DNB (Netherlands), with AFM approval for EMTs under MiCAR.
- Access to virtual IBANs, SEPA and FX through a single API.
- Dedicated compliance monitoring tool for crypto platforms (Oxygen).
- No notable sovereignty advantage documented.
Weaknesses
- B2B service: not accessible to end consumers.
- Not a bank; no deposits or credit.
- Still a seed-stage company, with modest funding versus incumbents.
- Custodial: the platform holds your funds and can freeze or lose them.
- Subject to regulation (FCA EMI (UK, ref. 900524) + DNB EMI + MiCAR (AFM) for EMTs): reporting to authorities and freezes on order.
Verdict
Score 3.9/5, solid profile. In its favour: regulated as an EMI by the FCA (UK) and DNB (Netherlands), with AFM approval for EMTs under MiCAR. The trade-off to weigh: b2B service: not accessible to end consumers.
On the Sovereignty lens the score is 0.0/5 (weak): the strength is fund control (0.0/5).
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Can an individual open an account with Fiat Republic?
No. It is B2B infrastructure aimed at crypto platforms and businesses, not end consumers.
Is Fiat Republic a bank?
No, it is a regulated electronic money institution (EMI): it provides IBANs and payment rails, not deposit accounts or credit.
Sources
- Official service page Descrizione · Prodotto · Api · Rails · +2 Data verified on Jul 17, 2026