- Polish fintech Conotoxia is preparing to convert its online currency exchange business, Cinkciarz.pl, into a joint-stock company (JSC) and apply for a European banking license.
- This move aims to expand the company’s service range and create new business opportunities.
- The transition to a JSC will allow ownership to be divided into shares, while the EU banking license would enable Conotoxia to offer a full suite of banking services with customer funds protected by the Bank Guarantee Fund.
- The Polish Financial Supervision Authority recently revoked Conotoxia’s national payment authorization, prompting the company to challenge the decision and implement regulatory recommendations.
