Confidia AG Opens in Atlanta USA
Confidia AG, a licensed, regulated financial institution based in Zug Switzerland is expanding its European/Australian/and Asian footprint into the US by opening an office in Alpharetta, GA, part of the Atlanta Metropolitan area. Richard Cohen, a finance professional since his university days when he was a stockbroker and a member of the global Confidia management team will manage the US operations.
Atlanta has become the fintech headquarters for the United States, with fully 70% of all US payments flowing through the hub. Global Payments, Inc. with a market cap of $64 billion; Equifax with a market cap of over $28 billion; NCR with a market cap of over $5 billion, have made Atlanta their headquarters, while others in the space have offices in the area, like Fiserv with a market cap over $80 billion.
But Atlanta isn’t just about payments, it is a center for fintech innovation with dozens of fintech startups calling Atlanta home.
Confidia, which is 100% owned by Cameron McKean, a fintech pioneer out of Australia, will establish a payments business in the US, but more importantly, it aims to offer several innovative services to its US e-wallet user-base.
The e-wallet will allow its members to hold several different sovereign (fiat) currencies in their accounts. In addition, users will be able to hold digital currencies, like cryptocurrencies and loyalty points. The e-wallet will also embed a debit card, allow the entire ecosystem of users to transfer funds to each other seamlessly and free of charge, and pair with Confidia-made point of sale systems throughout the US.
Says Cameron, “After starting in Sydney Australia more than twenty years ago, acquiring a Swiss financial institution, and being supported by the Thai government in Asia, we feel the time is right for us to enter the world’s largest market.”