Adyen Obtains Regulatory Approval to Open US Banking Branch

The company will open its first branch in the country in San Francisco, California.

Amsterdam-headquartered Adyen (AMS: ADYEN) announced on Monday that it has received a banking branch charter in the United States to establish a Federal Foreign Branch.

The approval has been granted by the Office of the Comptroller of the Currency (OCC), the country’s banking license overseer, late last month. 

According to Adyen, the newly obtained license will allow the European company to enhance its activities in the United States benefiting from increased operational scalability and ability to offer services to its merchants.

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.”

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Adyen operates in Europe with a banking license and offers end-to-end payment infrastructure. The company already has offices across the globe and offers services to some of the top global companies like Facebook, Uber, Spotify and Microsoft.

International Expansion

Additionally, the company is focused on its international expansion lately and entered the Middle East at the end of last year with a new office in Dubai. Moreover, Adyen expanded its local acquiring services in the UAE, onboarding multiple local merchants on its platform.

“The launch of our UAE acquiring solution allows us to offer our merchants the local solution they have been looking for. We are ready to reduce the pain points merchants currently see in the UAE market,” said Sander Maertens, Adyen’s Head of the Middle East.

“We look forward to giving merchants access to a superior acquiring solution that will future-proof their payments set-up and drive higher results as we provide them with access to the full capabilities of the Adyen platform.”

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