BankingBusinessFinTech

Conotoxia Plans Transition to Joint-Stock Company and Pursues EU Banking License

  • 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.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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