The Fiat Republic is a Banking-as-a-Service (BaaS) company, founded in London. It’s focused on linking the blockchain platforms with global and local banking transfer networks. The ultimate goal is to change the optics of cryptocurrencies in brick-and-mortar financial circles while seeking opportunities to cooperate and create joined ventures. Therefore the “Song of Fire and Ice” reference seems fitting.
The origin story – who built the company?
The people behind the Fiat Republic are a curious bunch. They are seasoned experts with a background in the traditional banking system, as well as high-growth payment startups, fintech companies, scaleups, and compliance. Their combined experience is measured in decades, so it’s safe to say they know what they’re doing.
Adam Biały, co-founder and CEO. He has around 15 years of experience in banks and payment startups. He was Head of Payments for Sainsbury, CPO for OpenPayd, and held several senior product roles at Raiffeisen Bank and HyperJar.
Martyna Lewinska – Chief Technology Officer. She has around a decade of experience across major industries. She’s ex-GE, ABB, Ex-Habito. She was also a Head of Platform Engineering at OpenPayd.
Sophie Guibaud – Chief Commercial & Growth Officer. She has 15 years of experience as a BaaS specialist. She was a Head of Product Strategy at Bankable, MD Europe at Fidor, and CGO at OpenPayd.
Fiat currencies are legal tender controlled by governments. Cryptocurrencies are digital assets that use blockchain technology. The reason behind founding the company is to democratize fiat access for the Web3 economy. Fiat access is a systemic problem for crypto platforms and therefore requires a systemic solution. With the company’s developer-first API, firms can easily access everything they need to deliver better fiat experiences to their users.
The Fiat Republic is aggregating a number of fiat rails with local and global tier-1 banks. The team gives crypto platforms access to quality fiat products via a single API. The company build a coalition of crypto platforms to create a united voice, enabling them to continually add tier-1 global and local banking partners and have a seat at the table with regulators, to shape and influence the future rules that govern the space.
The company offers integration of the API interface and links the security of the traditionally understood finances (tradFi) and fiat payment automation delivered by the embedded banking system. Plus, Fiat Republic wants to change the dynamics of the dialogue between crypto platforms, traditional banking institutions, and market regulators.
Since the founding team behind Fiat Republic have worked together before and have personal relationships from previous companies, we have no doubt this is possible.
The business model and revenue streams
The Fiat Republic centers around de-risking services of crypto clients by establishing tier-1 banks and fiat BaaS providers who, without Fiat Republic’s services, don’t have operational methods, culture, compliance nor risk management capabilities to serve regulated crypto clients.
Fiat Republic enables their fiat banking partners to instead fully service these crypto customers with comfort as delivered by Fiat Republic’s compliance and KYC onboarding standards as befits that of a regulated EMI business. From the crypto client’s perspective, Fiat Republic also provides the 1-stop shop for aggregation and redundancy to multiple country currency IBANs and payment rails as well as access to an intra-customer settlement network, EagleNet, for faster/cheaper liquidity.
The Fiat Republic offers pooled virtual IBANs, real-time FX, local and international payments, custom API, user flat flows, treasury management, and instant liquidity transfers.
Summary
The Fiat Republic is an interesting example of a company created by a group of people who knew market challenges and decided to do something about them. Here at Code & Pepper, we value the approach. We know that digital disruptors need companies like that. A good idea backed by reliable services.
That’s why we have created a company that’s been on the market for 17+ years and counting. We hire only 1.6% of the best talents out there. We have a precise talent identification methodology and case studies to prove it works. Do your next application with us. The market is ready for another digital disruptor.
