JP Morgan announced the purchase of a 48.5% stake in Viva Wallet for more than $800 million. The stake will be taken from smaller shareholders, and the purchase will be officially announced next week. Viva Wallet offers card acceptance in its own POS app, Google play apps and advanced payment systems in online stores in over 23 countries. Additionally, it is an official member of Visa and MasterCard.

JP Morgan, a US multinational investment bank, has agreed to buy Athens-based company Viva Wallet which mainly focuses on fintech payments. Shareholders include Latsis family office, which accounts for about 13% of the company in shares, Hodosphia, a British fund with 24%. Then there is Deca Investment which holds around 10 percent. The interest in the purchase was announced in February this year and agreements are said to have already been signed; moreover, Greek regulatory authorities also gave the green light to the deal in September. The deadline for the deal was set for the last day of November, but no official statement has been received until then. Strategists at JP Morgan anticipate that the crypto market fall will persist for some time, hence the purchase of the stakes came at a crucial time.

Sources:

https://www.investing.com/news/cryptocurrency-news/jp-morgan-buys-a-485-stake-in-viva-wallet-for-over-800-m-2966775

https://coinedition.com/jp-morgan-buys-a-48-5-stake-in-viva-wallet-for-over-800-m/ 

https://www.reuters.com/markets/deals/jp-morgan-signs-deal-stake-fintech-viva-wallet-over-800-mln-source-2022-12-17/