Positive developments in the GS Money neobanking platform are being highlighted by GSTechnologies.

October 15, 2024 07:16 PM AEDT | By Team Kalkine Media

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Positive developments in the GS Money neobanking platform are being highlighted by GSTechnologies. — Image source: Shutterstock

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Highlights:

GSTechnologies Ltd is making significant strides in the development of its borderless neo banking platform, GS Money, through both organic growth and acquisitions.
Angra Global, a subsidiary of GST, has experienced a notable increase in client numbers and is strategically focusing on expanding its operations within the UK market.
The company’s recent acquisition of Semnet, a cybersecurity firm, is performing ahead of expectations and may pursue a NASDAQ listing to raise capital.

GSTechnologies Ltd (LSE:GST) has reported substantial progress in developing its borderless neobanking platform, GS Money. The fintech firm is advancing its digital money solutions through a combination of organic growth initiatives and strategic acquisitions aimed at enhancing its service offerings.

The company's subsidiary, Angra Global, which operates under the AngraFX and Angra Global brands, has seen a significant rise in client numbers over the past six months. This growth is attributed to a strategic focus on expanding its operations and sales teams, positioning Angra Global to capitalize on opportunities within the financial services sector. As part of its growth strategy, Angra Global is targeting over 2,000 UK-based Small Payment Institutions (SPIs), which will strengthen its market presence in the UK.

In addition to these developments, GST’s GS20 Exchange has garnered increasing interest from high-net-worth individuals and corporations, evidenced by a steady rise in account openings. The board has indicated that 2025 is poised to be a pivotal year for the exchange’s growth within the crypto asset market.

To further bolster its operations, GSTechnologies has partnered with Noewe UAB, a professional services firm based in Lithuania, to align GS Fintech UAB’s financial year-end reporting with the group's reporting calendar. This collaboration aims to enhance regulatory compliance and support the company’s future growth ambitions.

Moreover, the recent acquisition of Semnet, a cybersecurity firm, is performing ahead of expectations, demonstrating the company's commitment to enhancing its security offerings. GSTechnologies has signed a non-binding memorandum of understanding with Trident Global Capital, outlining a potential NASDAQ listing for Semnet. This move aims to raise capital for the listing and associated expenses, further positioning the company for future growth in the evolving fintech landscape.

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