Dutch payments firm Adyen announced that it has received approval from the US Office of the Comptroller of the Currency (OCC) to establish a branch in California.

With the OCC’s approval and granting of the branch charter in combination with the Federal Reserve’s approval of the application, Adyen will be able to commence operations as a Federal Foreign Branch.

Obtaining this US branch license allows Adyen to enhance its US activities and operations in line with those conducted in Europe under its European banking license that was obtained in 2017.

The payments firm said in a statement that benefits of this include increased operational scalability via Adyen’s single platform and the ability to offer enhanced services to its merchants.

“This license was a logical next step for Adyen, and one that has long been on the horizon,”

said Pieter van der Does, Co-Founder and CEO of Adyen.

“I’m excited to see this positively impact our merchants operating in the US – we’re well positioned to help them grow.”

Featured image: Adyen

This article first appeared on fintechnews.ch