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FintechWerx International Software Services, Inc. ( (TSE:WERX) ) has provided an announcement.
FintechWerx has signed a non-binding letter of intent with U.K.-based CardCorp and Nova Business Holdings’ Stream Innovation Group to form and capitalize a new payment institution in Gibraltar. The planned entity will seek authorization as a Class C Payment Institution and is expected to operate as a payment facilitator under Visa and Mastercard sponsorship, subject to regulatory and scheme approvals.
Under the contemplated terms, FintechWerx would invest £250,000 for a 20% equity stake once definitive agreements and regulatory clearance are in place, with CardCorp and Stream each holding 40%. FintechWerx has committed an initial £50,000 to cover regulatory, legal and formation costs, positioning the venture to tap Europe’s evolving digital sovereignty agenda while leveraging partners’ regulatory expertise, merchant distribution and settlement capabilities.
The partners highlight Gibraltar’s well-defined regulatory framework as a key factor in selecting the jurisdiction for the PayFac platform. If completed, the initiative could enhance FintechWerx’s role in regulated cross-border payment infrastructure and support scalable deployment of integrated processing and settlement solutions across European markets, though completion remains contingent on approvals and customary closing conditions.
More about FintechWerx International Software Services, Inc.
FintechWerx International Software Services Inc. is a Canadian financial technology company that provides onboarding, payments, identity verification, fraud mitigation and data services to merchants, independent sales organizations and payment service providers. Its platform is positioned as an alternative to using multiple providers, targeting streamlined, regulated infrastructure for digital payments markets.
Average Trading Volume: 1,778,261
Technical Sentiment Signal: Hold
Current Market Cap: C$51.14M
See more data about WERX stock on TipRanks’ Stock Analysis page.