Colendi has received a banking license from Turkey’s BRSA, allowing it to launch the country’s first digital deposit bank, named ColendiBank. This move enables them to expand their financial services, targeting 50 million customers with a focus on fintech and AI-driven solutions. This initiative stems from their acquisition of SETL, a prominent blockchain settlements and payments provider.
Facts
- Colendi has obtained a banking license from Turkey’s Banking Regulation and Supervision Agency (BRSA).
- This license allows Colendi to launch ColendiBank, the first digital deposit bank in Turkey.
- Colendi’s payment business, launched in 2021, currently processes over $300 million in financial transactions.
- ColendiBank plans to onboard 50 million customers in the region, leveraging financial technology and artificial intelligence.
- They aim to introduce efficient and individually tailored financial services while redefining user experiences.
- Bülent Tekmen, co-founder and CEO of Colendi, expresses excitement about this milestone and emphasizes working with top organizations to offer regulated financial products.
- Colendi’s acquisition of SETL, a London-based blockchain settlements and payments provider, catalyzed the formation of ColendiBank.
- SETL serves prominent institutions, including central banks like England, France, and Singapore, as well as Swift and the Bank of New York.
- SETL is a key technology partner for the Federal Reserve Bank of New York’s digital dollar initiative and has collaborated with Swift on central bank digital currencies (CBDCs) and tokenized assets.
- SETL’s real-time settlement capabilities were enhanced with the introduction of its Regulated Liability Network (RLN) software under the brand LedgerSwarm in July.
