European Fintech Adyen Expands Operations in the US, Gains Bank Charter from OCC

Amsterdam-headquartered Adyen (AMS: ADYEN) is on an expansion spree. After entering the Middle East market, the company has now received a banking branch charter in the United States to establish a Federal Foreign Branch, the company said.

Banking licensing overseer, the Office of the Comptroller of the Currency (OCC), has approved Adyen last month to expand its operations in the United States. The company offers end-to-end payment infrastructure in the European markets and has offices across the globe. Some of its top clients are Facebook, Uber, Spotify, and Microsoft.

Commenting on the development, Adyen’s Co-Founder and Chief Executive, Pieter van der Does, said:

“This license was a logical next step for Adyen and one that has long been on the horizon. I’m excited to see this positively impact our merchants operating in the US. We’re well-positioned to help them grow.”

In May 2021, Adyen acquired approval from the Monetary Authority of Singapore (MAS). The permit allows Adyen to perform merchant acquisition services under the Payment Services Act 2019 (PSA).

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