Malta-based Blackcat has recently unveiled a redesigned mobile application that integrates EUR accounts and crypto services within a multi-wallet system.
The updated app enables users to establish and oversee multiple independent wallets, each tailored to specific purposes or asset types. Each wallet serves as an autonomous financial account on the platform, complete with its own personal EUR IBAN, SEPA transfer capabilities, card services, and integrated crypto trading features for buying, selling, and transferring assets.
Regulatory Framework and Infrastructure
Blackcat’s fiat currency infrastructure is built upon Papaya Ltd., a Malta-based Electronic Money Institution that operates under the authority of the Malta Financial Services Authority. As a direct participant in the SEPA payment network, Blackcat processes EUR transfers through its own infrastructure, reducing delays and lowering costs for users. Meanwhile, crypto services are delivered through a separately licensed European partner, facilitated via Open-Banking technology, maintaining distinct regulatory frameworks for fiat and digital asset operations.
In contrast to the industry-standard approach of layering features onto existing accounts, Blackcat’s wallet architecture is conceptualized as a ‘personal financial operating system’, where each wallet acts as an individual, programmable unit capable of connecting to various services, partners, and payment channels.
This development is part of the broader trend towards financial application fragmentation in Europe. According to data from AppsFlyer analyzing 187 finance apps across the UK, France, and Germany, traditional banks, neobanks, and international platforms operate in distinct product categories. To address this, Blackcat aims to integrate these diverse functions into a unified platform.
Looking ahead, the company plans to expand the multi-wallet model by adding partner integrations, enhancing Open-Banking connectivity, and supporting additional asset types. Each new feature is intended to be seamlessly incorporated as a native extension of individual wallets rather than an optional add-on.
