# Fiat 24 Bank Account

### Is Fiat24 regulated?

Fiat24 is a payment system operated by SR Saphirstein AG, a Swiss Fintech company directly regulated by the Swiss Financial Market Supervisory Authority FINMA. In an effort to maintain and develop as a nation which embraces and supports innovation, the Swiss parliament introduced the new FinTech license. They offer cash accounts and payment services to clients, leveraging blockchain technology as a new means in which to book client ledgers, a pioneering way to replace outdated legacy systems and radically improve such core aspects as human error, manipulation, efficiency and manpower. A multi-award winning company, Fiat24 has received recognition from several fintech institutions such as Qorus Accenture Banking Innovations.&#x20;

### What will you get after opening a bank account

1. **Debit Card**. We offer the VISA Debit Card to Swiss and EEA (European Economic Area) domiciled clients. They can spend their money with 40+ million merchants worldwide, without any technical differences or even noticing that all the bookings are done on the blockchain. Mainland China and other eligible countries' clients will receive the MasterCard Debit Card automatically in **December**. [More about regions](https://info.fiat24.com/overview).
2. **IBAN**. Each client holds an bank account NFT as their identity, and each NFT has a unique Swiss IBAN. The operating company of the Fiat24 platform is a Swiss Interbank Clearing (SIC) member which processes Swiss Franc payments. Fiat24 are also the euroSIC membership to offer Euro SEPA payment and global connectivity via SWIFT.

### Who is the auditor?

[Grant Thornton](https://www.grantthornton.ch/en/) Switzerland conducts financial and regulatory auditing.
