Electronic Money Institution 3S Money will extend its visibility in Luxembourg after securing an EMI licence in 2022. The company is licensed in London, Luxembourg, Dubai.
The Fintech was first founded in the UK in 2018 to help businesses set up global banking infrastructure. In 2022, it secured an EMI licence from the CSSF, enabling the firm to receive electronic money from clients.
“We offer ‘tele-transportation’ of the banking infrastructure into local markets,” explained Coralie Billmann, one of the firm’s two conducting officers and COO for 3S Money Europe. “A global company that is exporting or importing from non-euro or non-GDP to non-local markets will need to provide customers with a local presence. We offer local customers local accounts in several currencies.”
The 3S Money platform allows users to convert into different currencies in a single place while having an accurate overview of the costs involved. On a local level, it also offers a quick and easy banking solution for companies in the early stages to set up their banking infrastructure. “This is the big bulk of our client base,” said Billmann, adding: “For basic cases, you can have an account operational in a couple of days.”
3S Money currently counts 160 employees across offices in London, Amsterdam, Luxembourg, Dubai, Riga and Singapore. The Luxembourg office has some 14 people, a number which is expected to grow in the coming months.
In the coming weeks, the firm plans to be more and more visible in key locations around the country.
