Papaya Ltd, a Gżira-headquartered Electronic Money Institution authorised and regulated by the Malta Financial Services Authority, has provided the core payment infrastructure for the launch of Blackcat – a new European consumer fintech application.
Papaya Ltd is one of first European EMIs with direct participation in the SEPA payment network, a status that allows it to process euro payments through its own infrastructure rather than routing them through intermediary institutions.
This direct SEPA access forms the backbone of Blackcat’s euro-based services and positions Malta-regulated infrastructure at the centre of a product serving users across the continent.
“Malta’s regulatory framework and the MFSA’s approach to financial technology licensing have been fundamental to building the kind of infrastructure that Blackcat now runs on,” said Igor Badanov, CEO of Papaya Ltd. “We are proud that a product serving users across Europe is built on Maltese-regulated rails. It demonstrates that Malta is not just a place to hold a licence – it is a place where serious payment infrastructure is designed, operated and scaled.”
The launch of the Blackcat app completes a rebrand from the platform’s previous identity as Blackcatcard. The name change reflects the product’s evolution from a card-focused offering into a broader financial platform. The new application has been rebuilt from the ground up around a multi-wallet architecture, where users can create and manage multiple independent euro wallets organised by purpose – daily spending, savings, freelance income and other use cases.
Blackcat offers a unified financial experience combining euro-based payment services with integrated cryptocurrency functionality. Users receive a personal EUR IBAN, access to SEPA transfers, cards, multiple euro wallets, cashback programmes and rewards on EUR balances.
The app also includes a crypto service, integrated through an open-banking technology, where users can buy, sell, store and transfer digital assets, provided by a separately licensed European partner.
Cryptocurrency services are provided through a separately licensed European partner and operate under their own distinct regulatory framework. This structure ensures a clear separation between regulated fiat payment services and crypto operations.
Blackcat is available on iOS and Android. More information at Blackcat.app
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