Striga

Striga is a B2B embedded finance platform that gives fintech companies and developers a single API to issue virtual IBANs, create branded payment cards, manage crypto wallets, and move money between fiat and digital assets, all within a regulated European framework. The platform operates across more than 30 countries in the European Economic Area and is backed by Y Combinator. The problem Striga solves: building a compliant financial product in Europe that touches both fiat banking and cryptocurrency requires navigating licensing requirements, bank partnerships, card network agreements, KYC/KYB obligations, and blockchain integrations. This compliance overhead can consume years and significant capital before a product reaches end users. Striga abstracts that entire layer. Developers integrate a single API and inherit Striga's regulatory licenses, banking relationships, and infrastructure, allowing them to go to market with compliant financial products in weeks rather than years. How it works: Striga provides a REST API that client companies embed directly into their own applications. When a client onboards a new end user, Striga provisions that individual with a named virtual IBAN and one or more dedicated crypto wallet addresses, all issued in that user's name rather than pooled under a generic account. This per-user architecture satisfies MiCA-aligned and Travel Rule requirements and gives each end user a distinct, auditable payment identity. Incoming SEPA and SEPA Instant transfers arrive at the virtual IBAN; crypto deposits land at the user's dedicated on-chain address; Striga's ramp engine converts between the two at the point of settlement. Developers can also issue Visa or Mastercard branded debit cards linked to any supported balance, letting end users spend at any card-accepting terminal without the client company holding a card-scheme license itself. Core products: Virtual IBANs with full SEPA, SEPA Instant, and Open Banking connectivity, each issued to the individual end user for AML compliance. Unique crypto wallet deposit addresses per user across all supported blockchain networks. Physical and virtual Visa/Mastercard cards configurable with rewards or spending controls, live in minutes for virtual variants. Outbound SEPA and SEPA Instant payments via API with inbound payment detection and reconciliation. Crypto-fiat on-ramps and off-ramps executed under Striga's own license so clients need no trading license of their own. Integrated KYC and KYB flows and transaction monitoring so clients do not need a separate compliance stack. Bitcoin Lightning Network support for fast, low-cost BTC transfers. Supported networks and assets: Striga operates on four blockchain networks, Ethereum, Base, Polygon PoS, and Solana. Supported assets include EUR, BTC, ETH, USDC, POL, and BNB. USDC on Solana is available for deposits and withdrawals, making Striga one of the few European-regulated platforms to offer native Solana USDC settlement as part of a full banking stack. Striga is a Circle Alliance Directory member, reflecting its USDC-native positioning. Regulatory standing: Striga holds a virtual asset service provider license in Estonia under license number FVT000546, the first company approved under Estonia's MiCA-aligned VASP regime. This covers crypto custody, exchange, and transfer services across EEA member states. Post-acquisition, Lightspark intends to pursue additional e-money institution and full MiCA licenses, which would expand Striga's regulatory authorizations further. Team and history: Striga was founded in Tallinn, Estonia and is backed by Y Combinator. The company processed its first payments in 2023 and reached over 200 million dollars in cumulative payment volume while serving more than 50 fintech companies. Its regulatory-first approach, obtaining a VASP license before scaling customer acquisition, positioned it as a trusted infrastructure provider in the European digital asset compliance market, a category that became significantly more consequential with MiCA entering full enforcement. Acquisition by Lightspark: On October 14, 2025, Lightspark, the Bitcoin payment protocol company founded by David Marcus, acquired Striga for an undisclosed amount. The strategic rationale was to combine Lightspark's Open Payments Protocol technology with Striga's established European regulatory footprint, bank integrations, and card issuance infrastructure, giving Lightspark a direct path to compliant fiat-to-crypto settlement in the EEA. Following the acquisition, Striga's brand, platform, and APIs remained operational with no changes to existing customers. Client dashboards, API endpoints, and support channels continued running under the Striga name while deeper integration work proceeded. Striga adds payment protocol depth while contributing the licensed European banking and card infrastructure needed to convert protocol-level payments into spendable, bank-account-connected money. Solana ecosystem fit: Striga's inclusion of Solana in its four-network stack is significant for European fintech developers who want to offer Solana-native USDC as a settlement or custody layer. Because Striga handles compliance, custody, and card issuance within a single licensed API, a developer can build a product where a user receives USDC on Solana, holds it in a Striga-managed wallet, swaps to EUR, and spends the resulting balance on a Visa card, all without the developer company needing its own VASP license or card scheme membership. For Solana-based stablecoin products targeting European users, Striga provides the regulated on and off ramps that raw blockchain infrastructure alone cannot supply.