Blackcat Bets on Wallets: Inside the European Fintech Building a Fiat-Crypto Bridge With Real Payment Rails

Millions of Europeans now hold both euros and crypto. In practice, this means two separate apps, two separate interfaces, and a conversion process in between that involves noticeable fees, waiting times, and enough friction. 

Crypto ownership across the euro area more than doubled between 2022 and 2024, according to the ECB’s Consumer Expectations Survey. Yet the overwhelming majority still use digital assets for investment, not daily use. In the Netherlands, 90% of crypto holders use them purely as an investment vehicle; in Germany, the figure is 82% (ECB/Euronews, 2024). The reason is straightforward: moving between crypto and fiat remains inconvenient. According to the Gemini Global State of Crypto report, 38% of potential users cite difficulties buying crypto with fiat as their main barrier to entry, while 41% of existing users say fast and reliable crypto-to-fiat withdrawals are their biggest unmet need (PYMNTS/Deloitte).

Blackcat, a European fintech that just completed a full rebrand and launched a new app, is making a direct play at closing that gap. The product, formerly known as Blackcatcard, has relaunched with a multi-wallet architecture that puts EUR and crypto wallets, integrated through an open-banking technology, side by side in a single application — with on-ramp and off-ramp functionality built into the core experience.

Multi-Wallet: Euros by Purpose, Crypto by Asset

The rebuilt app introduces independent wallets that users can create and manage for different purposes. On the euro side, this means as many wallets as needed — one for daily spending, one for savings, one for freelance income — each with its own balance and transaction history. On the crypto side, each supported asset gets its own dedicated wallet, keeping holdings clearly separated by coin.

The result is a structure where a user’s entire financial picture — euros and crypto — lives in one place, organised by purpose on the fiat side and by asset on the crypto side. Each wallet operates as an independent unit: users can assign a dedicated payment card, set savings goals, keeping personal and travel spending, for instance, cleanly separated. 

Movement between wallets is handled internally — funds flow freely across fiat wallets and, via the integrated crypto service, between crypto and euro balances — removing the need to switch between apps or route funds through external services.

Who it’s for

Blackcat is positioning itself for users who live across both fiat and crypto but are tired of managing multiple apps: freelancers who receive payments in crypto but pay rent in euros, content creators who earn across platforms, expats who need SEPA access alongside their digital assets, and the growing number of Europeans who hold some crypto but still do 90% of their financial life in fiat.

Blackcat is available on iOS and Android. More information at Blackcat.app 

About Blackcat

Blackcat is a European fintech platform that combines everyday financial services — EUR IBAN accounts, SEPA transfers, cards, free internal account-to-account money transfers, cashback and bonuses — with integrated cryptocurrency functionality in a single multi-wallet application. 

Fiat services are powered by Papaya Ltd, an Electronic Money Institution authorised and regulated by the Malta Financial Services Authority and a direct SEPA participant. Registration number C55146. Client funds are safeguarded in accordance with applicable legislation.

Funds held in e-money accounts are not covered by the Depositor Compensation Scheme. You can get more information about terms and conditions on the website blackcat.app

The bonus payment is a part of the loyalty program provided by Baltic Technology Solutions OU. Detailed terms and conditions can be found here. An integrated crypto exchange and custodial crypto wallets are provided by MANERIO Sp. z o.o. You can find more information at maner.io 

About Papaya Ltd

Papaya Ltd. is a financial institution registered and headquartered in Malta. As an Electronic Money Institution (EMI) regulated by the Malta Financial Services Authority (MFSA), Papaya Ltd. provides digital payment infrastructure services including Mastercard payment cards and IBAN accounts for individuals and businesses, a PSD2-compliant solution enabling SEPA transfers, and offers co-branded and white-label mobile and online payment solutions. One of the first EMIs in Europe to secure direct access to SEPA, including both SEPA Credit Transfers (SCT) and SEPA Instant (SCT Inst). 

Papaya Ltd. also acts as a correspondent institution, providing regulated access to the SEPA network for other financial institutions without their own direct SEPA membership.

The company also delivers PSD2-compliant API for fintech solutions as AISP and PISP, automated digital Know Your Customer (KYC) solutions, and personal and business International Bank Account Numbers (IBANs).