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A Swiss-licensed deposit-taking institution, Klarpay AG, has announced plans to rebrand as Bivial AG, signalling its intention to expand beyond its core cross-border payment services for digital businesses.
The Zug-based fintech, which operates under Article 1b of the Swiss Federal Banking Act, said the rebrand incorporates the initials of its founders and represents the two-way nature of transaction flows.
The company currently provides multi-currency IBAN accounts and payment solutions primarily for e-commerce firms, digital entrepreneurs, and social media influencers. It is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Martynas Bieliauskas, CEO of Klarpay AG, said: "We are thrilled to introduce Bivial as our new identity. Our new name better reflects our mission to guide our clients along the pathways of financial innovation and trust. We will continue to leverage our strong foundation in financial technology, ensuring our customers receive the innovation and service they have come to expect while broadening our banking and regulatory footprint."
The announcement comes as the company seeks to broaden its regulatory authorisations in Switzerland, which would allow it to offer an expanded range of financial and treasury products.
The rebranding is expected to complete in the coming weeks.
