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  • Timur Turlov in an interview with the German newspaper Börsen-Zeitung: Freedom Finance plans to enter the German digital banking market

Timur Turlov in an interview with the German newspaper Börsen-Zeitung: Freedom Finance plans to enter the German digital banking market

Freedom Finance Europe plans to use its successful experience in creating a financial ecosystem in Kazakhstan to enter the German digital banking market, Timur Turlov, head of the company, told — the German newspaper Börsen-Zeitung.

Börsen-Zeitung is Germany's leading daily newspaper dedicated to the financial markets. It has been published since 1952 and is the official publication of all the country's stock exchanges, including those in Frankfurt, Stuttgart and Munich.

The innovative platform developed by Freedom Finance has contributed to the digital transformation of Kazakhstan, which created a unified financial ecosystem that is as yet unmatched in Europe. The company hopes to replicate this success in Germany, where its Freedom Finance Germany unit is already operating as a tied agent for brokerage services. "We want to complement the Kazakh platform with banking services and enter the neo-banking market", Mr Turlov said.

To do this, Freedom Finance plans to obtain a banking licence in Germany or acquire an existing bank with an established business and a small portfolio of assets. "It is almost always better for a foreign financial institution to enter a new market through a local bank, where all the necessary processes are already in place and you can scale it up using your own technology", said the head of Freedom Finance.

The funds for the purchase are available: Freedom Finance has $300 million of free capital on its balance sheet. The company is already exploring available options and has held preliminary talks, Mr. Turlov said.