Nayax files Connecticut application for US innovation bank charter

Nayax filed an application with the Connecticut Department of Banking to charter Nayax America Bank under the state’s Innovation Bank framework.

The non-depository bank would add embedded banking products to its U.S. payments platform, including issuing, controlled-spend programs, and working-capital solutions.

Regulators expect the review, including an independent feasibility study and a public hearing, to take about six months.