We would like to inform you that we have completed the most difficult and valuable legal upgrade of our business. Worldcore has successfully obtained Authorized Payment Institution financial license in Czech Republic. This process took over 9 months since initial submission of documents to regulator.
Worldcore was previously licensed and regulated as Small Payment Institution. Our previous license had some restrictions - we had no permission to go beyond limits in customers' transaction volume and and we had no right to open branches outside of Czech Republic. Since now, Worldcore has no such restrictions and our team is ready to start completing steps of our roadmap since next week starting with becoming a member of SWIFT and SEPA networks. Moreover, we are working on analysis to better select the city, where the first foreign branch of Worldcore will be opened in 2018.
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Excellent news! It seemed inevitable that Worldcore would expand beyond the Czech Republic, but it is happening sooner than expected. Inclusion in SWIFT and SEPA would also be huge