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Nayax Files Application to Establish Nayax America Bank in the United States

NYAX
  • Nayax Ltd. filed an application with the Connecticut Department of Banking to establish Nayax America Bank Inc., a non-depository innovation bank to be headquartered in Fairfield County, Connecticut.
  • The proposed bank would be wholly owned by Nayax USA Holdings Inc., a newly formed U.S. holding company, with Carly Furman serving as CEO, Sagit Manor as CFO, & Haim Pinto as CTO.
  • The initial board of directors includes Furman, Aaron Greenberg, & Patrick Moroney, with plans to expand to five directors including three independents.
  • Once chartered, the bank will enable U.S. customers to access embedded financial services including corporate cards, controlled-spend programs, merchant cash advances, & equipment financing without accepting deposits or operating physical branches.
  • Nayax simultaneously launched Yellow Account, a deposit service for SMB customers operated by Nayax LLC with Adyen as the sponsoring bank, which will continue to hold underlying deposits even after the bank charter is operational.
  • The proposed U.S. charter aims to extend Nayax's existing regulated payment & card-issuing authority from the EU, UK, & Israel to North America, which currently generates approximately 40% of the company's global revenue.
  • The Connecticut Department of Banking will conduct a six-month review process involving an independent feasibility study & public hearing before making a decision, with approval not guaranteed.
  • The initiative is expected to create new investment & skilled jobs in Connecticut while allowing Nayax to deepen customer relationships by embedding banking services directly into its platform.