Member Info for SURGIO

Fingers crossed 🤞 we might hear good news sooner than anticipated

I have a feeling once GST entered stablecoin sandbox, GST will obtain EMI license.

As of January 2026, there are no publicly quoted companies on the London Stock Exchange (LSE) that are confirmed to be actively issuing stablecoins under a full Electronic Money Institution (EMI) license.

While several LSE-listed companies like Wise Plc and Alpha FX Group Plc hold EMI licenses for traditional payments and foreign exchange, the issuance of stablecoins is a newer and more complex area of regulation. The UK's Financial Conduct Authority (FCA) is actively developing the regulatory framework for stablecoins and, as of late 2025/early 2026, has been inviting firms to test their products within a dedicated regulatory sandbox rather than through a fully implemented regulatory regime. 

Key points:

The FCA treats stablecoin issuance as a distinct activity, and firms may need separate permissions even if they hold an EMI license.

Companies like Ripple, while having secured an FCA EMI license and crypto-asset registration, are a US-based company and are only able to issue stablecoins within the UK and EU jurisdictions under that license, their stock is not publicly quoted on the LSE.

Other major stablecoin issuers like Circle Internet Group are listed on other exchanges (e.g., NYSE). 

GSTechnologies has stated its goal is to be the first LSE-quoted company to obtain an EMI license for the purpose of stablecoin issuance, highlighting that this is a current void in the market.

GSTechnologies (LON:GST) can release payment cards primarily through its fintech ecosystem and strategic partnerships with payment infrastructure providers.

As of early 2026, the company utilizes the following partnerships and acquisitions to facilitate card issuance and payment services:

Wise MPay: GSTechnologies has a major collaboration with Wise MPay, a Singaporean blockchain payment provider, to develop its GS Money neobanking platform. This partnership is central to launching their digital token and remittance services.

Angra Global & Global Banking Partners: Through its acquisition of Angra Limited and PAYPT Finance (now Angra Global), the company offers multicurrency e-wallets. These services rely on Angra's established banking partnerships to facilitate fund transfers and foreign exchange, which typically provide the "rails" for linked debit or prepaid cards.

Metapay (Angra Limited sp. z o.o.): Completed in January 2026, the acquisition of this Polish Small Payment Institution (SPI) allows GSTechnologies to operate domestic and cross-border payment services in Europe. This license is a critical step for the company to issue cards directly or via a "sponsor" bank in the EU.

Bonfirepay:The company has targeted acquisitions of Bonfirepay (Spain) to further expand its B2B payment and currency exchange reach within the European Economic Area.

Finferno: For crypto-linked card services, GSTechnologies uses its Finferno platform in Poland to manage digital asset transactions, which can be integrated into payment card offerings.

While GSTechnologies provides the blockchain and neobanking layer, they typically partner with major card schemes like Mastercard or Visa—often through intermediaries like Global Processing Services (GPS) or Tribe Payments—to provide the physical and digital card infrastructure.

🔔 Update on MiCA Transition and Next Steps

As the MiCA transitional period in Lithuania concludes on 31 December 2025, we would like to share an update on our regulatory setup and the next steps for our platform.

GS Fintech has been actively participating in the MiCA transition process alongside many other crypto-asset service providers across the EU. Lithuania's pre-MiCA VASP registration regime has now been replaced by Regulation (EU) 2023/1114 (MiCA), as implemented through the Law on Crypto-Asset Markets. As a result, the regulatory framework governing crypto platforms is currently being updated.

We have been invited to continue our MiCA application process with the Bank of Lithuania in Q1 2026, and we intend to do so, incorporating further regulatory feedback as part of this next phase.

In parallel, and to ensure continuity of service during this administrative transition, our platform will operate under the VASP-registered entity FINFERNO Spółka z ograniczoną odpowiedzialnością in Poland. As part of this change, your account jurisdiction and applicable terms may be updated accordingly.

This is a back-office regulatory alignment to ensure continuity of service and has no impact on how you use the platform.

What this means for you

✅ Your access to the platform continues as normal

✅ Your assets remain fully accessible

✅ No action is required from you

✅ Customer support and all core services remain unchanged

✅ Your account's legal jurisdiction and terms may be updated automatically as part of this transition

We remain committed to operating within robust regulatory frameworks and to keeping our customers informed as we progress.

Should you have any questions regarding this administrative transition, our customer support team is available to assist you.

Thank you for your continued trust and support.

Hopefully we get updates in Q1 of 26, happy new year everyone.

I’m greedy AF like Billy

Can’t resist , has to topped up again earlier

You got to be in it to win it .. if you don’t believe in your investment don’t waste time on this board

How’s Melb?

Definitely a good sign and more assurance for investors

Recently Authorized Entities (December 2025)

CoinGate: The first homegrown Lithuanian company to obtain a full MiCA license, granted by the Bank of Lithuania on December 16, 2025. This license allows CoinGate to provide various crypto-asset and stablecoin services across the entire European Economic Area (EEA).

Zodia Custody: This institutional digital asset custodian, backed by Standard Chartered, received its MiCA license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) on December 16, 2025. This enables it to "passport" regulated custody services across all EU member states.

GCEX: A London-based digital prime broker, secured its full MiCA license from the Danish Financial Supervisory Authority on December 15, 2025, allowing it to offer regulated institutional crypto access across the EU.

Byrrgis: A London-based hybrid crypto platform, also obtained an EU MiCA license on December 16, 2025, positioning itself for a 2026 launch under the new regulatory framework.

Re Billy, yea more topped up

Re Billy,

I broke down under 500k each

Top up times , greedy time

Re Billy,

For Angra's parent company, GSTechnologies, which has consistently articulated a vision of building a blockchain-enabled neobanking business, securing a full EMI license is the foundational step that enables commercial operations and provides regulatory legitimacy.

The stablecoin sandbox is a valuable opportunity for innovation and early testing under the upcoming stablecoin regime, but it is complementary to, and dependent upon, having appropriate regulatory permissions and resources (like an existing API or pending EMI license) in the first place to conduct actual business in the future. Without a foundational license, a firm cannot fully leverage the opportunities identified within the sandbox.

We should be getting an update on Angra EMI license, this is the key for organic growth.

Once we have EMI, Metapay aquisition will go ahead, pls reread RNS in sept

https://www.londonstockexchange.com/news-article/GST/results-for-the-year-ended-31-march-2025/17227724

Angra Limited in the UK is currently applying for an FCA Electronic Money Institution ("EMI") licence which will enable it to substantially increase its market offerings and services, including the ability to issue electronic money and provide payment services such as digital wallets and prepaid cards. Significant investment was made during FY25 in connection with this application and we look forward to reporting further on this in due course.

GSTechnologies completed the acquisition of the business and assets of CAKE (including the Bake Cryptocurrency Platform) on January 2, 2025. This means the upcoming H1 2026 results will include a full six months of financial contribution and integration progress from CAKE.

The acquisition was a strategic move funded entirely from GST's own cash resources and is expected to have a transformative impact on the company's digital asset strategy.

Key Details of the CAKE Acquisition

Platform Acquired: The "Bake" platform, a retail-focused digital asset investment platform (web and mobile app) offering features like staking, swaps, and on-ramp solutions into crypto.

User Base Expansion: At the time of the acquisition, CAKE had approximately 700,000 registered users and 50,000 funded users holding around US$80 million of digital assets on the platform. This significantly expands GST's reach.

Strategic Rationale (Synergies):

Enhanced Offering: The Bake platform's features are being integrated into GST's existing GS20 Exchange platform, creating a more comprehensive suite of services.

Regulatory Compliance: The combined platform is designed to be fully compliant with European regulations, positioning GST for growth in the European market.

Scalability & Efficiency: The integration enhances the technology stack, providing seamless clearing and settlement of cross-border crypto trades and related fiat payments.

Market Position: The acquisition strengthens GST's position as a leader in the digital asset market and forms a core part of its "GS Money" initiative.

The financial impact for the H1 2026 interim results will be significant revenue growth from the addition of a full six months of the Bake platform's operations, as the integration was largely completed by March 31, 2025.

Expected Performance (H1 2026 Estimate)

The estimates below are qualitative projections based on the company's stated growth drivers and historical trends, not official forecasts:

Metric H1 2025 Actuals H1 2026 Estimate (Qualitative) Driver/Commentary

Revenue US$2.23 million Substantially Higher Driven by a full period's contribution from acquisitions (Semnet, CAKE) and organic growth in fintech services.

Net Loss US$0.07 million Potential to Narrow Further or slight Loss The company continues to invest heavily in its "GS Money" solutions and cybersecurity, which increases expenses, but high revenue growth could offset this.

Cash Position US$2.91 million Stable/Increased The company successfully raised additional capital in 2025 to accelerate its strategy.

Key Growth Drivers:

Acquisitions: The full integration and contribution of companies like Semnet and CAKE will significantly boost revenue compared to the previous period when they were only consolidated for part of the term.

Fintech & Cybersecurity Focus: The pivot away from legacy ICT services towards high-growth areas like blockchain-based payments, FX solutions, and cybersecurity is the core strategy expected to yield results.

Bitcoin Treasury Strategy: The recent adoption of a policy to allocate cash into Bitcoin as a treasury asset might affect balance sheet valuations depending on market price fluctuations, but this is a separate strategic element.

Overall, the trend indicates increasing revenues, though profitability may still be impacted by ongoing investment in growth initiatives.

Enough tax to buy an island or private jet

Re Billy,

I would stop over Bali instead , nice people, food and price.

NZ , South Island is nicer instead . Christchurch/queenstown

Hope we hear sth before your bday. Enjoy the trip