Numisma Bank received its innovation bank charter from the Connecticut Department of Banking earlier this year. The charter provides customized regulatory solutions to financial technology companies looking to grow in a competitive marketplace. It is ideal for companies with diverse business models that are engaged in a variety of financial activities and seek to integrate a banking function but whose business plan does not include taking retail deposits from individuals. The charter provides a responsible, streamlined, and flexible regulatory approach allowing companies to operate across the U.S. It also provides a beneficial exemption to money services laws in many other states, reducing regulatory burden. Numisma Bank is the first Connecticut state-chartered innovation bank to receive a Fed master account, which grants them access to the Federal Reserve System. Governor Lamont Welcomes Numisma Bank to Connecticut as Fintech Company Opens World Headquarters in Greenwich Governor Ned Lamont and Connecticut Banking Commissioner Jorge Perez today are welcoming Numisma Bank, a fintech global currency distributor, to Connecticut as the company is celebrating the grand opening of its world headquarters in Greenwich. “Fintech innovators realize that Connecticut offers a competitive landscape for their companies to grow and thrive in our state,” Governor Lamont said. “I am excited to welcome Numisma Bank to Connecticut’s business community. This launch represents another step forward for Connecticut as a leader in financial services, showcasing the state’s ability to foster a supportive business environment that attracts cutting- edge companies like Numisma Bank.” “I would like to welcome our newest Connecticut state-chartered bank,” Commissioner Perez said. “Connecticut’s innovations bank charter provides the necessary regulatory framework and guardrails while allowing the flexibility for companies to innovate in the fintech space. We wish Numisma success in its new home.” “I’d like to thank Governor Lamont and Banking Commissioner Jorge Perez for their support,” Vivek Tyagi, CEO and co-founder of Numisma Bank, said. “The decision to charter the bank in Connecticut was influenced by the state’s business-friendly climate and access to a deep talent pool. The Connecticut Department of Banking has been a key partner in supporting Numisma Bank’s vision. We share its commitment to providing essential services in the global banking industry and are happy the department remains dedicated to offering comprehensive regulatory oversight while fostering an environment where innovative financial services can thrive.”
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