Governor Ned Lamont and Connecticut Banking Commissioner Jorge Perez today are welcoming Numisma Bank, a fintech global currency distributor, to Connecticut as the company is celebrating the grand opening of its world headquarters in Greenwich.
Numisma Bank received its innovation bank charter from the Connecticut Department of Banking earlier this year. The charter provides customized regulatory solutions to financial technology companies looking to grow in a competitive marketplace. It is ideal for companies with diverse business models that are engaged in a variety of financial activities and seek to integrate a banking function but whose business plan does not include taking retail deposits from individuals. The charter provides a responsible, streamlined, and flexible regulatory approach allowing companies to operate across the U.S. It also provides a beneficial exemption to money services laws in many other states, reducing regulatory burden.
Numisma Bank is the first Connecticut state-chartered innovation bank to receive a Fed master account, which grants them access to the Federal Reserve System.
Numisma Bank focuses exclusively on the distribution of U.S. dollar and foreign currency banknotes, a critical service that ensures the flow of physical currency for central banks and international financial institutions. In recent years, many traditional U.S. banks have exited this complex, low-margin business due to increased regulatory demands as well as an overall decline in cash usage. Numisma is positioned to fill this gap by providing essential services to both the Federal Reserve and global monetary systems, ensuring resilience in these key markets. Numisma Bank is the only U.S. bank dedicated exclusively to this niche service.
The company’s cutting-edge, fully cloud-based financial infrastructure is designed to support the purchase and sale of physical banknotes on an international scale. With no retail customers or involvement in loans or investments, Numisma Bank focuses solely on delivering efficient and secure transactions for central banks and financial institutions globally.
Numisma Bank’s leadership team includes former senior executives from top global financial institutions such as Goldman Sachs, Morgan Stanley, and White & Case.