In March 2020, First Investment Bank (Bulgaria) registered its subsidiary, MyFin EAD to provide e-money and e-payments solutions. Incorporated in Bulgaria, MyFin EAD is authorized and regulated by the Bulgarian National Bank.
MyFin do not conduct operations with cryptocurrencies.
MyFin EAD is authorized by the Bulgarian National Bank for issuance of electronic money, refund of electronic money, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, execution of payment transactions via telecoms, IT system or network operator, account information services. The authorization was granted on 27 February 2020.
Due to EEA passport rules MyFin EAD, can conduct its activities in any of the 31 EEA member states. MyFin EAD do not participate in deposit guarantee schemes.
MyFin EAD is a SWIFT member.