GSTechnologies Ltd (LSE:GST) told investors that it continues to make significant progress on developing a borderless neobanking platform, under its GS Money banner.
In London, the share jumped more than 20% in Tuesday's morning's trade changing hands at 0.8p per share.
The fintech firm is advancing both organically and through acquisitions to enhance its digital money solutions.
Angra Global, a subsidiary operating under the AngraFX and Angra Global brands, has seen a notable rise in client numbers over the past six months, the company noted in a statement.
The growth is linked to the company’s strategic focus on expanding operations and sales teams.
Angra Global is also targeting over 2,000 UK-based Small Payment Institutions (SPIs) as part of its growth strategy to strengthen its foothold in the UK market.
GST’s GS20 Exchange has meanwhile been attracting increased interest from high-net-worth individuals and corporations, with a steady rise in account openings, it added.
The board expects 2025 to be a pivotal year for the exchange’s growth in the crypto asset market.
It has also partnered with Noewe UAB, a professional services firm in Lithuania, to align GS Fintech UAB’s financial year-end reporting with the group’s reporting calendar.
Such collaboration is expected to help ensure regulatory compliance and support future growth.
The company also noted that Semnet, a cybersecurity company acquired by GST in February 2024, is performing ahead of expectations.
A non-binding memorandum of understanding (MOU) has been signed with Trident Global Capital, which outlines a potential NASDAQ listing for Semnet.
It aims to raise up to US$15 million for the listing and related expenses.