- Founded
- 2024-01-01 in London, England
- Headquarters
- London, England
XOALA is a fully regulated neobank and all-in-one financial platform that provides corporate banking, global payments, merchant acquiring, and cryptocurrency services through a single unified portal. Targeted primarily at financial institutions, brokers, crypto firms, iGaming operators, and global businesses, Xoala eliminates the need for multiple banking and payment partners. The platform offers dedicated named IBANs, multi-currency accounts in over 20 currencies, and access to local and international payment rails including USD (SWIFT), EUR (SEPA Instant), GBP (Faster Payments/CHAPS), and AED via the UAETFSNetwork. Xoala also supports crypto on- and off-ramps with dedicated wallets for 10+ cryptocurrencies, enabling instant transfers and seamless fiat conversion. Its acquiring services cover low-, medium-, and high-risk industries through Visa and Mastercard, plus alternative payment methods across LATAM, Africa, and Asia. The company operates under an Electronic Money Institution licence from the Swedish Financial Supervisory Authority (Finansinspektionen), is a principal member of Visa and Mastercard, and holds multiple crypto licences. Xoala was founded in 2024 and is headquartered in London, England, with additional regulated entities in Mauritius, Canada, and the Isle of Man. In early 2026, FDCTech, Inc. announced a letter of intent to acquire Xoala (Steven AB) for a total purchase price of $6,750,000.
Detailed Review
Business Model
Xoala positions itself as a one-stop financial infrastructure provider for businesses that require cross-border payment capabilities, multi-currency accounts, card issuing, and crypto services. Its core value proposition is the consolidation of banking, acquiring, and crypto into a single platform with a single API, reducing the complexity and cost of managing multiple vendors. The platform supports both B2B operational accounts and C2B client accounts, allowing businesses to accept payments, manage client funds, convert currencies, and move money globally.
Key Products
Key features include global accounts with virtual IBANs in 26 currencies, multi-currency physical and virtual corporate cards, batch payment capabilities, and a white-label debit card programme for payouts and withdrawals. The crypto services include dedicated, non-changing wallets, instant transfers, and a proprietary crypto checkout that settles directly into Xoala accounts. Acquiring services cover low-, medium-, and high-risk industries through Visa and Mastercard, with support for alternative payment methods across LATAM, Africa, and Asia.
Regulatory and Licensing
The company is regulated as an Electronic Money Institution in Sweden (Steven AB) and also holds registrations in Mauritius, Canada, and the Isle of Man. It is a principal member of Visa and Mastercard, and holds multiple crypto licences. This regulatory footprint allows Xoala to serve high-risk industries such as iGaming, forex brokers, and crypto platforms, which are often underserved by traditional banks.
Recent Acquisition and Market Position
The recent acquisition by FDCTech (announced March 2026) suggests a strategic move to expand Xoala’s reach and integrate its offerings with FDCTech’s financial technology solutions. While the company is relatively new (founded 2024), its regulatory licences and partnerships with Visa, Mastercard, and aggregators like Praxis and BridgePay indicate a robust compliance framework and established payment rails. Xoala competes with other neobanks and payment processors serving high-risk verticals, but differentiates through its combination of banking, acquiring, and crypto in one platform.
Key Products
FX & Batch Transfers
Competitive exchange rates across 26 currencies with transparent pricing and batch payment capabilities for efficient payroll and supplier payments.
White-Label Debit Card Programme
Enables businesses to issue their own branded debit cards and mobile applications using Xoala's regulated infrastructure and card network partnerships.
Global Accounts
Multi-currency IBANs in 26 currencies with virtual sub-accounts, supporting local and international transfers via SEPA Instant, Faster Payments, CHAPS, SWIFT, and UAETF.
Acquiring
Visa and Mastercard acquiring for low-, medium-, and high-risk verticals including iGaming, with integration to aggregators and 180+ local payment methods worldwide.
Multi-Currency Cards
Physical and virtual corporate debit cards for team spending, plus a white-label programme that allows businesses to issue branded cards and mobile apps.
Crypto Services
On- and off-ramps for 10+ cryptocurrencies (BTC, ETH, USDT), dedicated non-changing wallets, instant transfers, crypto-to-fiat conversion, and a crypto checkout that settles into Xoala accounts.
API Integration
A single API that provides access to all payment, acquiring, and crypto rails for seamless automated financial operations.
FX & Transactions
Competitive FX rates; real-time tools; batch transfers; local payment rails (SWIFT, SEPA Instant, Faster Payments, CHAPS, UAETFS).
White-Label Debit Card Program
Full-service program allowing businesses to issue their own branded debit cards and mobile applications for payouts/withdrawals.
Single API Platform
Modular infrastructure connecting to multiple payment partners for faster, cheaper cross-border payments.
Offices & Headcount
125 employees (approx.)
Key Persons
Nick KundnaniFounder