The US Federal Reserve (Fed) announced the approval of Adyen N.V.’s application to establish a US federal branch license in San Francisco, California.
The opening of the US federal branch is still pending approval by the Office of the Comptroller of the Currency (OCC).
Upon approval by the OCC, the branch license will allow Adyen to better service its merchants through increased operational scalability and create a stronger stack of capabilities in the payments value chain. This license was a logical next step in Adyen’s strategy to build a single payments platform to service its merchants globally.
Adyen is currently in the possession of a pan-European banking license, which was granted in 2017.
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Microsoft, Casper, Bonobos and L'Oréal. The approval of this license application by the Federal Reserve underlines Adyen’s continuous growth and expansion in the markets Adyen operates in.
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