The financial platform Qiuntex, founded by Ukrainian Vladislav Zaporozhchenko, has closed a deal to sell its Swiss subsidiary, Zenvault, to a Cypriot holding company with a market capitalization of over 100 million euros. The parties have not disclosed the financial terms of the deal.
Zenvault operated as a neobank under the regulatory oversight of FINMA, the Swiss financial supervisory authority. This allowed it to issue crypto cards accepted in Switzerland and the EU and to legally convert fiat currency into cryptocurrency. Along with the change in ownership, there will also be a change in the company’s
management team.“Zenvault is a project we’re proud of. We built a regulated structure in one of the world’s most demanding financial jurisdictions and found a buyer who shares our vision. This deal confirms that the team is capable of creating world-class assets. Japan and the U.S. are already in the works,” said Vladislav Zaporozhchenko, founder and CEO of Qiuntex.
Nothing changes for the company’s clients. Qiuntex continues to operate as a financial platform for businesses: corporate accounts with UK IBANs, payments in 20+ currencies via SWIFT, SEPA, and Faster Payments, Mastercard cards, and payroll services for international teams.
About Qiuntex
Qiuntex (qiuntex.eu) is a neobank for businesses with a team of Ukrainian origin. It serves over 2,500 corporate clients in more than 30 countries.
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