Adyen receives branch license application approval from the US Federal Reserve

The US Federal Reserve has announced the approval of Adyen’s application to establish a US federal branch license in San Francisco, California.

The opening of the US federal branch is still pending approval by the Office of the Comptroller of the Currency. Upon approval by the OCC, the branch license will allow Adyen to boost the service it provides to merchants through increased operational scalability.

This license is a next step in Adyen’s strategy to build a single payments platform to service its merchants globally. The company is currently in the possession of a pan-European banking license, which was granted in 2017.