Fiat Republic

Name

Fiat Republic

Legal name

Fiat Republic Ltd

Website

https://fiatrepublic.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Payment Processing Fees: Transaction fees charged on fiat payments processed through the platform including SEPA, Faster Payments, SWIFT, and other payment rails. Fees apply per transaction based on currency and payment scheme.
2. API Access Fees: Subscription or usage-based fees for access to the banking API, virtual accounts, and compliance monitoring tools. Revenue derived from crypto platforms accessing fiat infrastructure.
3. Compliance Monitoring Services: Revenue from Oxygen transaction monitoring, KYC/AML compliance tools, and regulatory reporting services offered as part of the platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Fiat Republic is a B2B neo-bank that delivers Banking-as-a-Service infrastructure to crypto platforms via a single REST API. Its core products—EagleNet for instant 24/7 fiat settlement, Oxygen for transaction monitoring and compliance, and Virtual IBANs for named end-user accounts—enable crypto exchanges, NFT platforms, DeFi protocols, and Web3 projects to access fiat on/off ramps, stablecoin settlement, and global payment rails (SEPA Instant, Faster Payments, SWIFT) without building individual bank integrations.

Product overview

Fiat Republic is a B2B neo-bank for crypto platforms providing a unified Banking-as-a-Service platform that bridges traditional banking and crypto. The platform consists of core products including EagleNet (real-time internal payment network), Oxygen (transaction monitoring and compliance), and Virtual IBANs (named individual accounts for end-users). Additional services include Treasury Management, Real-time FX, Stable Fiat Access (multi-bank network), PSD2 integration, and a crypto industry Consortium. All services are accessible through a single REST API with OAuth 2.0 authentication, enabling crypto businesses to reduce fiat challenges, avoid debanking risks, and achieve instant settlement via SEPA Instant, Faster Payments, SWIFT, and other payment rails.

Differentiator

Problem solved

Functional benefit

Products and services

• EagleNet Fiat Republic's internal payment network that processes real-time fiat settlements 24/7/365 between Fiat Republic accounts without waiting for banking hours or incurring payment rail fees, targeting crypto platforms needing instant liquidity.
• Oxygen Transaction monitoring and compliance tool that screens transactions for sanctions, detects fraud, and manages AML/KYC risks for crypto platforms on a continuous basis.
• Virtual IBANs Named individual virtual accounts for end-users that eliminate costly reference-based reconciliation through direct account identification, enabling seamless fiat collections for crypto platform users.
• Treasury Management Service that optimizes and automates treasury flows for crypto platforms managing fiat currencies across multiple banking partners and currencies.
• Real-time FX Foreign exchange service enabling real-time currency conversion as part of the unified payment API for crypto platforms.
• Stable Fiat Access Access to a network of trusted banking partners providing stable fiat currency access and a pool of liquidity providers for instant settlements across multiple currencies.
• PSD2 Fiat Republic Payment services interface enabling crypto platforms to access traditional banking rails under the PSD2 regulatory framework for compliant fiat payment flows.

Quantifiable outcome

• $13 billion in payment volume processed in 2025
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Paybase LimitedcoreTechnology or Integration · 8 June 2022Acquired Paybase Limited to obtain Electronic Money Institution (EMI) status in the UK. This acquisition enabled Fiat Republic to offer payment services and issue e-money to UK-based crypto platforms.
• ClearBankcoreTechnology or IntegrationClearBank partnership enabling SEPA Indirect product access. Fiat Republic became the first live client on ClearBank's new SEPA Indirect product, unlocking faster and more resilient euro payments for crypto businesses.
• ZazuminorStrategic or Co-development PartnerFiat Republic participated as an investor in Zazu's $1 million pre-seed funding round. Zazu is a digital financial operating system for African SMEs.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BCB Group: BCB Group is a regulated crypto-focused payments and banking-services provider serving exchanges, custodians, and trading firms. It directly competes with Fiat Republic in providing fiat rails, virtual accounts, and compliance tooling to crypto platforms.
• BVNK: BVNK provides payments infrastructure connecting crypto platforms to fiat banking rails, including on/off-ramps and treasury services. It targets the same enterprise crypto customer base as Fiat Republic with a similar B2B banking-as-a-service value proposition.
• Zero Hash: Zero Hash provides embedded crypto and stablecoin infrastructure for fintechs and broker-dealers, including banking, settlement, and compliance APIs. It is a directly comparable crypto-banking-as-a-service platform targeting enterprise clients across similar use cases.

Emerging players

• Wirex: Wirex is a crypto-friendly payments platform that has historically offered fiat-crypto conversion, cards, and banking services. While more retail-oriented than Fiat Republic's B2B focus, it overlaps in providing fiat-crypto banking infrastructure and licensed EMI services.
• Treasury Prime: Treasury Prime is a banking-as-a-service platform that connects fintechs to bank APIs for account opening, payments, and compliance. While not crypto-native, it offers adjacent infrastructure relevant to Fiat Republic's API-first banking model and target customer profile.
• Baanx: Baanx is a regulated crypto-banking infrastructure provider offering fiat-crypto services under EMI licenses. While more retail-focused via white-label cards, it overlaps with Fiat Republic in providing licensed fiat-rail services to crypto-native businesses.

Broad incumbents

• Circle: Circle operates USDC and provides settlement and treasury infrastructure to crypto businesses and fintechs. While centered on stablecoin issuance, it increasingly competes with Fiat Republic in the fiat-crypto settlement and banking-rails space.
• Stripe: Stripe is a global payments incumbent that has expanded into crypto on/off-ramps and stablecoin settlement. With vastly greater banking relationships and balance sheet, Stripe represents an emerging competitive threat to Fiat Republic's enterprise crypto customers.

Others

• ClearBank: ClearBank is a UK clearing bank and a partner of Fiat Republic (Fiat Republic was the first live client on ClearBank's SEPA Indirect product). ClearBank sits upstream as an infrastructure provider rather than a direct competitor, enabling Fiat Republic's European payment capabilities.
• Paybase Limited: Paybase was acquired by Fiat Republic in 2022 to obtain its UK EMI license. Although now part of Fiat Republic, the former Paybase standalone business is historically comparable as a UK-based EMI serving fintech and crypto clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fiatrepublic

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds4 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fiat Republic