Business
Corporate Update
Corporate Update.
About this update from Gstechnologies Ltd.
[{"type":"text","content":"\n\nTHIS 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.\n \n27 March 2025\n \nGSTechnologies Limited\n \n(\"GST\", the \"Company\" or the \"Group\")\n \nCorporate Update\nGSTechnologies 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.\nHighlights\n● The integration of the Bake Cryptocurrency Platform into the Group's digital asset arm, GS Fintech, has been successfully completed.\n \n● 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.\n \n● 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.\n \nBake Cryptocurrency Platform\nOn 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.\nThe 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.\nIn 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.&...