Sweden’s largest P2P lending provider TrustBuddy announced today that it will hand in a full application for a PSD license during week 25 (starting 15th of June).
In connection with TrustBuddy’s on-going license application in Sweden, the Financial Supervisory Authority has recently sent the company additional information. TrustBuddy will now require a PSD license governing payment services. The Swedish Financial Supervisory has chosen a line similar to other European markets, and one that may lay the foundation for a European regulatory standard.
Elsewhere, TrustBuddy announced today that it will not acquire Prestiamoci following a conditional acquisition that was put in place during end of 2014. The decision is hardly surprising, given the recent strategy update, announced on the 7th of May, to focus on Northern Europe.