October 24, 2023
To our clients and partners,
we have taken notice of the unfounded warning levied against us by the Finanzmarktaufsicht Austria (FMA) on October 20, 2023, which is also available for public scrutiny on the FMA’s official website.
In the face of such allegations, WOIN8 demands clarity and rectification on the following critical points:
Misrepresentation of WOIN8: Let it be categorically clear that WOIN8 is NOT an investment platform. Any assertions to the contrary are baseless and a sheer distortion of facts.
Erroneous Targeting of our UK Entity: The UK company that the FMA has erroneously targeted, WOIN8 LTD, has no involvement whatsoever in financial services or related activities. We expect the FMA to revisit their sources and correct this oversight.
WOIN8 which provides financial services by means of an EU Licensed Provider, operates in complete adherence to the EU and, by extension, passporting into every EU country under the Directive 2007/64/EC on Payment Services in the Internal Market (‘the Payment Services Directive’) and the revised Payment Services Directive (Directive (EU) 2015/2366, or PSD 2).
Verification of our company structure can be easily accessed at all times under the link below.
Unwarranted Focus on WOIN8: For the record, WOIN8 has not sought out clients or business in the Austrian market. The FMA’s unexpected and unfounded warning is baffling, to say the least.
Immediate Legal Action: Be advised, starting today, October 24, we have initiated intense consultations with the legal team and counsels to address this unfounded warning from the FMA. We will present our formal response post a rigorous analysis, and all developments will be transparently shared in our newsletter.
Suspected Defamation Attempt: We are inclined to believe that the FMA’s hastily compiled warning might be instigated by malicious individuals or entities aiming to damage WOIN8’s reputation. Rest assured, we will relentlessly work so as to taking stringent legal actions against any detractors. Updates will be promptly communicated through our newsletter.
An open conversation is important for WOIN8 and a principle of transparent business practices. We stand firm in our position and will relentlessly defend our reputation. We also want to say thank you for the support and positive feedback so far. We are still at the beginning of our journey and this will not bring us away from our goal, this situation fuels our drive to redefine banking.
The WOIN8 Team