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The financial and banking direction of the Badalyan Brothers group is making a significant step towards the international market: the Fast brand, operating within the group, has officially received an EMI license from the Maltese financial services authority. This is the first precedent in Armenia's financial banking sector, allowing the company to provide financial and payment services in all European Union countries.
The president of the Badalyan Brothers group and chairman of Fast Bank Vahe Badalyan stated: “This is our first step towards obtaining a banking license in the European Union market. By obtaining the EMI license granted by the Maltese financial services authority, we have the opportunity to expand our operations under the Fast brand in 27 EU countries, which have a population of about 450 million. It is an economically developed environment where the vast majority of the population uses the internet and online banking services. This allows us to develop digital banking on an almost unlimited scale. This achievement is particularly significant for the financial banking direction of the Badalyan Brothers group.”
The goal of having a financial organization in the European Union has been on the group's agenda for years. The complex process that began several years ago was successfully completed this summer. The CEO of Fast Shift Limited Vardan Khachatryan noted: “The obtained EMI license opens up wide opportunities in the Fintech sector, including the provision of bank accounts (for both individuals and legal entities), card issuance, as well as the provision of stablecoins and other innovative payment services. The company is currently in the practical phase: significant investments are being made, the necessary technical infrastructure is being formed, and high-quality human resources are being engaged. At the same time, active negotiations are underway to directly connect to the global SWIFT system, European SEPA Instant, and international card schemes, including Visa.”
This project not only strengthens the position of the Fast brand on the global financial map but also serves as a strategic bridge between Armenia and the European economic area, opening direct access for Armenian businesses to one of the largest economies in the world.
Fast Bank is regulated by the Central Bank of Armenia.
