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The Dutch Central Bank has granted a licence to Vistra which allows the fund, capital markets, corporate and private markets services provider to offer escrow and settlement services globally from the firm’s office in the Netherlands.
The central bank has given the firm the European Payment Service Directive 2 (PSD2) licence. Under the newly-introduced PSD2, organisations which deliver escrow and settlement services must be licensed in order to operate as a payment service provider.
Vistra offers payment security and settlement assurance services for purposes such as handling different asset types, large sums of money, all major currencies, multiple jurisdictions, foreign exchange requirements, high volumes of payments and payees.
“These solutions are particularly relevant for clients who are looking to mitigate risk during complex financial transactions – such as M&As [mergers and acquisitions] or in the real estate sector – or as part of litigation settlements”, Casper Spindelaar, head of escrow and settlement services, said.