Tungsten receives formal UK PRA approval to start the Tungsten Bank

Tungsten Logo no name or tag line 150x150 Tungsten receives formal UK PRA approval to start the Tungsten BankThe Board of Tungsten has received approval from the UK’s Prudential Regulation Authority (PRA) for the formal change of control in the recently acquired FIBI. The fully UK authorised Bank will be re-named tot the Tungsten Bank and will soon start offering supply chain finance: a major opportunity for UK SME’s as well as entire supply chains.

And there is more good news: Tungsten has today begun providing invoice discounting services to selected US customers.

Edmund Truell, Owner and Chairman of the Tungsten Group:

“We look forward to an exciting future, as Tungsten Corporation builds up a disruptive force in supply chain finance on a global basis.  The combination of enormous flows of invoices; simple and transparent finance offers; and high grade credit risks should enable us to advance billions of pounds, dollars, euros and francs to suppliers on the Tungsten Network.”


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