Request Finance Acquires Pay.so Lithuania; Unveils Innovative Payment Solution
Deal News | Nov 25, 2024 | PR Newswire Cision Request Finance
Request Finance, based in Paris, has announced its acquisition of Pay.so Lithuania, a regulated Virtual Asset Service Provider (VASP). Through this strategic acquisition, Request Finance aims to enhance its capabilities in providing compliant crypto and fiat financial operations. The company has launched a one-click on/off ramp payment solution that enables seamless transactions between cryptocurrencies and fiat currencies for businesses, facilitating bill payments, employee compensation, and third-party transactions. Pay.so Lithuania has experienced significant growth over the past nine months, offering broad currency coverage and becoming a key player in the digital asset services industry. This acquisition positions Request Finance to streamline multi-currency transactions globally, offering a unified platform for businesses to manage both crypto and fiat transactions efficiently. Senior executives from Pay.so, including Chris and Cameron Butcher, have highlighted the benefits of this acquisition in advancing Request's position in the crypto payment solutions market. The move aligns with Request Finance's mission to expand crypto adoption among compliant businesses while maintaining regulatory compliance and operational excellence on a global scale.
Sectors
- Financial Technology
- Cryptocurrency
- Regulatory Compliance
Geography
- Lithuania – Pay.so Lithuania is a regulated VASP, central to the acquisition by Request Finance as it operates under stringent regulatory frameworks.
- France – Paris-based Request Finance, the acquiring company, is extending its operational capabilities in global financial transactions.
Industry
- Financial Technology – The acquisition involves digital payment solutions that bridge cryptocurrency and fiat transactions, a hallmark of the fintech sector.
- Cryptocurrency – The core of the acquisition is to enhance crypto transaction services within a regulated framework.
- Regulatory Compliance – Request Finance's acquisition ensures compliance with international financial regulations, a critical aspect for digital asset service providers.
Financials
- $100 to $100 million – The transaction volume range that Request Finance is now able to process through its new multi-payee on/off ramp feature.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Request Finance | Acquirer | Company | A leader in providing crypto and fiat financial solutions on a global scale. |
| Pay.so Lithuania | Target | Company | A regulated VASP with broad currency coverage, enhancing Request Finance's payment offerings. |
| Chris Butcher | CEO of Pay.So US | Person | A key executive providing insights into the acquisition's significance for Request Finance. |
| Cameron Butcher | CTO of Pay.so US | Person | CTO providing technical insights into Request Finance's newly acquired platform. |
| Valentin Faye | Head of Legal & Compliance at Request Finance | Person | Shares insights on regulatory compliance and strategic positioning post-acquisition. |
| Christophe Lassuyt | CEO of Request Finance | Person | Expresses the broader strategic impact of the acquisition on Request Finance's offerings. |
| Diego Casanova | Sr Finance Operations Analyst at Decentraland Foundation | Person | Provides a client's perspective on the value of Request Finance's services. |
| Daniel Lustig | Head of Operations and BI at Ocean Protocol | Person | Highlights operational efficiencies gained from Request Finance’s solutions. |
| Krisztin Lipárdi | COO at Galaxis.xyz | Person | Commends Request Finance for simplifying payment management and enhancing operational transparency. |