In October 2021, the Swedish Financial Supervisory Authority (SFSA) initiated an investigation into Goobit Group's subsidiary, Goobit AB. This lengthy process, recently concluded on June 21, 2023, has had significant impacts on Goobit's business operations, challenging the company's financial health and strategic trajectory.

During the two-year investigation period, Goobit was largely hamstrung in its day-to-day operations. The repercussions of the probe were particularly noticeable in the banking sector where the company lost its banking relationship with SEB. Other Swedish banks also turned the company away, asserting that onboarding would only be possible once the SFSA investigation had concluded.

However, Goobit is now keen to turn a new page, viewing the conclusion of the SFSA investigation as a chance to start afresh. The end of the investigation paves the way for the company to re-establish essential partnerships with banks and other financial service providers.

Christian Ander, CEO and founder of Goobit Group, expressed his optimism about the company's future.

We have learned a lot and have gained much more knowledge and experience now. We look forward to what 2023/2024 holds

With the investigation behind them, Goobit is now able to focus on expanding its offerings for customers, innovating, and developing new products for market launch. Despite the difficulties of the past two years, the company has remained resilient and adapted its processes to regulatory expectations, enhancing its compliance structure.

The future now holds significant potential for Goobit, with the firm ready to leverage its experience and newly improved processes to accelerate growth and development in the evolving cryptocurrency industry.