RNS - this morning27 Mar 2025 10:46
Today 07:00
RNS Number : 3881C
GSTechnologies Ltd
27 March 2025
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018.
27 March 2025
GSTechnologies Limited
("GST", the "Company" or the "Group")
Corporate Update
GSTechnologies Limited (LSE: GST), the fintech company, is pleased to provide an update on developments at the Company as it continues to make significant progress on developing a borderless neobanking platform providing next-generation digital money solutions, both organically and through complementary acquisitions.
Highlights
● The integration of the Bake Cryptocurrency Platform into the Group's digital asset arm, GS Fintech, has been successfully completed.
● Legally binding sale and purchase agreement signed to acquire 100% of Metapay SP. Z.O.O, a company incorporated in Poland which holds a Small Payment Institution licence. The acquisition, completion of which is subject to the necessary regulatory approvals, is in line with GST's strategy to enhance its footprint in domestic and cross border payment services across Europe.
● Trading within GS Fintech's digital asset business continue to perform in line with management's expectations. The Group remains focused on optimising efficiencies and rolling out new product features.
Bake Cryptocurrency Platform
On 2 January 2025 the Company announced the successful completion of the acquisition of the business and assets of Cake Pte Ltd and Cake DeFi UAB (together "CAKE"), including the Bake Cryptocurrency Platform ("Bake"). The acquisition was an important milestone for GST, accelerating the Company's digital asset strategy and positioning the Company for future growth in the rapidly evolving digital asset ecosystem.
The Company is pleased to confirm that the integration of the Bake Cryptocurrency Platform into the Group's digital asset arm, GS Fintech, has been successfully completed, in line with the expected timeframe announced at the time of the acquisition.
In addition, the Group's developmental roadmap for its digital asset business has been further progressed, including the consolidation of backend systems between Bake and the GS20 Exchange. The Company is also actively developing new product features on Bake to expand its service offerings for both retail and institutional clients. These developments are on track and will be rolled out in due course.
The Company has also appointed Response Legal to assist in securing a Markets in Crypto-Assets (MiCA) licence. The Company is confident in achieving a positive result, expected in the second half of 2025, further strengthening its position in the European digital asset market.
Why sell
Trading operations within GS Fintech's digital asset business continue to perform in line with management's expectations. T
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