Member Info for Chaebol

Any news will do!!!!!!!!

Yeh its getting interesting Lloyd. Something has to give x;)

FWIW can definitely say 2 of those sales are buys.....

I wonder if they bring out GS FINTECH LTD to play.

https://find-and-update.company-information.service.gov.uk/company/13173336

Id be interested in the clarity Moomins......from my understanding the 'Travel Rule' effectively requires a crypto license (or equivalent authorization) to operate legally, as it applies exclusively to regulated/authorized Virtual Asset Service Providers (VASPs) or Crypto-Asset Service Providers (CASPs) who are permitted to facilitate crypto transfers.

Thats fair Moomins but the Singaporean exemption has expired whether you want to disagree with me or not that has expired!!. Ive registered with bake but never used it.

So with all this guessing today it comes back to GS Fintech really needing MiCA approval by the 31st to save a lot of aggro!

Anything incorrect ? its a bit quiet.....

Bake (formerly Cake DeFi) now operates and trades under the regulatory framework of GS Fintech UAB, a Lithuanian entity and subsidiary of GS Technologies. Following the acquisition of Cake Pte Ltd and Cake DeFi UAB's business and assets (completed in January 2025), Bake's operations were fully integrated into GS Fintech UAB by March 2025.

londonstockexchange.com +4

This means its crypto trading, exchange, and related services are conducted in compliance with Lithuanian/EU laws, specifically under GS Fintech UAB's legacy Virtual Asset Service Provider (VASP) registration (transitioning to full MiCA CASP licensing).

Following the acquisition and the discontinuation of the previous transitional exemption under Singapore's Payment Services Act (held by Cake Pte. Ltd.), the platform officially ceased providing products and services in Singapore effective May 1, 2025.

Singaporean user accounts were restricted, and access was discontinued.This restriction applies due to the lack of a full Digital Payment Token (DPT) license from the Monetary Authority of Singapore (MAS). While Bake/GS20 continues to serve international clients from permitted jurisdictions (primarily leveraging its European transitional MiCA framework in Lithuania), Singapore remains a restricted jurisdiction for core services, promotions, and certain features (e.g., Bake Pro).

Moomins the exemption has expired in Singapore from what i understand it license is under Lithuania Vasp rules Bake (formerly Cake DeFi), operated by Cake Pte. Ltd. in Singapore, has never held a full Payment Services Act (PSA) license from the Monetary Authority of Singapore (MAS) for digital payment token (DPT/crypto) services.It previously operated under a transitional exemption from licensing requirements under the Payment Services Act. This exemption allowed certain providers to continue operations while the regulatory framework was implemented.

Following the recent business sale/acquisition (announced in late 2025, where the Bake platform and assets were acquired by GS Fintech UAB, a subsidiary of GS Technologies), this exemption has been discontinued. As a result, Bake can no longer provide its previous products and services in Singapore.

Bake has been in discussions with MAS regarding obtaining a full license but has not secured one. Its regulated crypto operations (e.g., exchange and custodial services) have shifted focus to Europe, particularly Lithuania (where it held authorizations since 2022, now transitioning under MiCA).

But that doesnt stop BAKE and GS Fintech being deregistered as VASPS from the 2nd of January in Lithuania, if youre deregistered how can you offer services. They would have to change jurisdiction?

Lol we down 80 % YTD and moved from one disaster to another all year but they're sulking.

Red, I predicted .55's and MiCA 2026 months ago ! But all we can do with this shareholder avoidant BOD is guess!!!!

Chris Copeland  8:08 AM

Fantastic to see new approvals from the BOL and puts Latvia in the shade. Do you have any more announcements due ? or will you be having Christmas break and announcing in the New Year.



* Lukas Jablonskas sent the following message at 12:13 PM

Do you understand that you are asking for confidential information?



* Chris Copeland sent the following messages at 12:33 PM

I apologise if I am being too forward, that is certainly not my intention. I fully understand that you cannot share confidential information, and I am not expecting that at all. I was simply wondering whether it would be possible to confirm if any further approvals are anticipated by the end of the year. I appreciate that asking about specific firms would be inappropriate, so I am only asking in general terms. In any case, thank you for your kind and gracious responses. I am genuinely pleased to see that Lithuania has granted approvals to reputable firms such as Nuvei and CoinGate, and I hope many more suitable companies receive approval in the future. Wishing you a Merry Christmas and once again, thank you. Best regards, Chris



He might reply amazed we got this far tbf.....

Also would GS fintech need to leave LT after the 31st Jan? or do they just change its business type? This is why I think Metapay is going to come in to play especially with the further grandfathering.

No Aim I quoted Lukas at Mica approval who confirmed 50 applications but many applied more than twice making it over 100 apps they went through.

Some of these companies have applied from February March April ETC so they were well ahead of GST. The most concerning part right now is Banys seems to think thats it from BOL on approvals. So Nuvei here we come.

Who cares about the 500 casps applying or not ffs ? are you this chaebol deranged.......

This is what I am interested in

Even with that in mind, the fact that only three entities went all the way through still says quite a lot about how steep the MiCA filter is in practice.

I have gently asked Lucas at MiCA approvals if they have any more approvals due before the end of the year, I have asked nicely but doubt i will get a reply but if you dont ask you dont get!

Whats misleading ?

Wildcard for metapay could be the one.

Interims come out when they know metapay needs to be activated or not?

Interesting reply as well....... Here we come Nuvei i reckon.

Thanks.

The 500+ figure is a bit misleading if taken at face value. A material part of the entities on the register were either not carrying out any real activity or had no substantive nexus with Lithuania at all (no staff, no decision-making, no actual operations here). If you strip those out, the realistic pool of candidates is probably closer to a few dozen - say in the 50-60 range.

From there, MiCA introduces a completely different cost base compared to the previous regime. For a number of business models, once you price in full authorisation and ongoing compliance, not pursuing authorisation is simply an economically rational outcome.

Even with that in mind, the fact that only three entities went all the way through still says quite a lot about how steep the MiCA filter is in practice.

Interesting pre and past tense statement from Banys in his post '

Professionally, being involved in the authorisation of the company - in a market where more than 500 CASPs were registered and only 3 (congrats to Nuvei Liquidity as well!) of them got licences - does make me a bit proud.

Makes me think he thinks thats it for now on approvals. https://www.linkedin.com/feed/update/urn:li:activity:7406954294014283776/