UK-based fintech firm GS Technologies (LSE: GST) has acquired Polish virtual asset service provider Finferno Sp. zoo for cash, aiming to leverage Finferno's license to expand its digital asset offerings in Poland and Central Europe.
The deal, announced on December 29th by Investing.com, was not disclosed and was paid from GS Technologies' available cash reserves. The goal is to expand the cryptocurrency business and test trading and digital asset management services.
- GS Technologies acquired Finferno in Poland with cash, the value of which was not disclosed.
- The deal used readily available cash to leverage Finferno's license.
- Aiming to expand cryptocurrency trading in Poland and Central Europe, and test new services.
What's noteworthy about the GS Technologies – Finferno deal?
GS Technologies acquired Finferno Sp. zoo in an undisclosed cash transaction, using the company's existing cash reserves.
Finferno is a virtual asset service provider in Poland. The acquisition focuses on leveraging Finferno's license to expand GS Technologies' digital asset business.
The transaction was reported on December 29th, with GS Technologies being a UK-based fintech company listed on the LSE: GST ticker. The cash payment was stated to be from available cash, with no mention of raising Capital or issuing additional shares.
Plans to expand cryptocurrency in Poland and Central Europe
GS Technologies aims to expand its cryptocurrency operations in Poland and Central Europe, while also launching pilot programs for digital asset trading and management services.
The focus of this move is to leverage Finferno's license to accelerate the expansion of its digital asset business in target markets. Beyond geographical expansion, the company also aims to test new products/services related to digital asset trading.
Specifically, the pilot program includes digital asset trading services and wealth management services for digital assets. The article does not specify the rollout date, customer base, or the specific cryptocurrency products that will be offered.






