Malta-based Blackcat has launched a rebuilt mobile app with a multi-wallet architecture combining EUR accounts and crypto services.
The new app allows users to create and manage multiple independent wallets organised by purpose, use case, or asset type. Each wallet operates as a self-contained financial account within the platform, with access to a personal EUR IBAN, SEPA transfers, card services, and integrated crypto buy, sell, and transfer functionality.
Regulated infrastructure and architecture
Blackcat's fiat infrastructure is built on Papaya Ltd, a Malta-based Electronic Money Institution authorised and regulated by the Malta Financial Services Authority. The company holds direct participant status in the SEPA payment network, meaning EUR transfers are processed through its own infrastructure rather than routed via intermediary institutions, a distinction that affects both speed and cost for end users. In addition, crypto services are delivered through a separately licensed European partner, integrated via Open-Banking technology, with fiat and digital asset operations maintained in distinct regulatory frameworks.
The multi-wallet model differs from the account-plus-features approach common across the industry. Rather than layering spending categories or virtual pots on top of a single balance, each wallet in Blackcat's architecture carries its own balance and transaction history. A company representative described the architecture as a 'personal financial operating system', in which each wallet functions as a programmable unit capable of connecting to different services, partners, and payment rails.
The launch comes against a backdrop of increasing fragmentation in European financial applications. According to AppsFlyer's 2025 analysis of 187 finance apps across the UK, France, and Germany, traditional providers, neobanks, and international platforms compete in separate product categories. With this in mind, Blackcat's approach is designed to consolidate these workflows into a single platform.
The wallet architecture is positioned as a foundation for future functionality. Planned expansions include partner integrations, additional Open-Banking connectivity, and support for further asset types, each intended to be embedded as native extensions of individual wallets rather than supplementary features.
