This document is an editorial summary of the webinar and does not constitute a full transcript of all discussions.
On Monday 18 May 2026, TRACTIAL held a strategic webinar dedicated to the Group’s fintech trajectory, the proposed free share subscription warrants submitted to the Extraordinary General Meeting, the MiCA regulatory framework and the next operational milestones.
Hosted by Jim Dorra, Chief Executive Officer of TRACTIAL, the webinar aimed to provide shareholders, investors and market observers with a clear, educational and factual understanding of the Group’s current positioning, strategic priorities and the main topics raised by shareholders.
The discussion focused on five key themes: TRACTIAL’s fintech transformation, its Fintech-as-a-Service offering, the MiCA regulatory framework, the proposed free warrants and the next operational milestones.
1. Why this webinar?
TRACTIAL organised this webinar to clarify its trajectory during an important transformation phase.
The Group is progressively evolving from a business model historically focused on payment services towards a regulated financial infrastructure combining payments, accounts, proprietary technology, compliance, crypto-asset modules and embedded finance services.
The objective of the webinar was therefore to provide shareholders, investors and market observers with a clearer framework for understanding this evolution.
Several topics were addressed:
TRACTIAL’s fintech trajectory;
the role of its Payment Institution status;
the Fintech-as-a-Service offering;
the European MiCA regulation;
the proposed free warrants;
the Group’s strategic refocusing;
the first commercial and operational milestones.
The webinar also reflects TRACTIAL’s intention to strengthen the regularity of information made available to the market through more educational formats: webinars, replays, summaries, FAQs, explanatory content and thematic communications.
2. TRACTIAL: from a historical payment foundation to a regulated fintech infrastructure
TRACTIAL is not starting from scratch.
The Group relies on longstanding experience in payment services, proprietary technological infrastructure and an already established regulatory framework.
The trajectory presented during the webinar is based on several complementary building blocks.
Historical payment services
TRACTIAL has operational experience in payments and financial flows.
Payment.net
This proprietary infrastructure provides a technological foundation to operate financial services, manage flows, connect partners and integrate compliance tools.
Payment Institution status
TRACTIAL is licensed as a Payment Institution, which represents a central element of its regulated positioning.
PSAN registration
The Group is also registered as a Digital Asset Service Provider under the French regulatory framework applicable to crypto-assets.
Fintech-as-a-Service offering
TRACTIAL is developing an offering enabling partner platforms to integrate financial services into their own environments.
Stablecoin and MiCA-related use cases
The Group intends to integrate certain crypto-asset and stablecoin modules within a clearer European framework, notably through the MiCA trajectory.
The main message of the webinar is that TRACTIAL seeks to combine these building blocks into a regulated European financial infrastructure focused on practical use cases.
3. What is TRACTIAL’s Fintech-as-a-Service offering?
TRACTIAL’s Fintech-as-a-Service offering aims to enable third-party companies to integrate financial services directly into their own user journeys.
In other words, TRACTIAL provides infrastructure components, while partners develop the end-user experiences for their customers.
This approach notably targets:
fintech companies;
SaaS platforms;
marketplaces;
crowdfunding platforms;
certain Web3 players;
partners operating in France and internationally.
The offering is based on three pillars.
3.1 Payments, accounts and financial flows
TRACTIAL can operate services related to payments, accounts, incoming and outgoing flows, as well as certain associated services, within the framework of its regulated status.
3.2 Technological infrastructure
The Group relies on Payment.net, its APIs, operational tools, KYC procedures, compliance systems and flow management capabilities.
3.3 Crypto-asset and stablecoin modules
TRACTIAL is also working on modules related to crypto-assets, fiat-to-crypto conversion and stablecoins within a regulated framework.
The objective is not to position crypto-assets as a speculative axis, but rather as technological components capable of addressing certain use cases: faster transfers, integration into financial journeys, bridges between traditional currencies and digital assets, or embedded financial services.
4. MiCA: a European framework to structure certain crypto-asset use cases
The European MiCA regulation was extensively discussed during the webinar, as it represents an important topic for shareholders and for understanding TRACTIAL’s positioning.
MiCA should not be understood as a simple administrative authorisation or as a promise regarding timing. It is a European regulatory framework designed to structure certain crypto-asset services.
For TRACTIAL, MiCA represents a structuring milestone. The Group already benefits from a regulated foundation through its Payment Institution status and PSAN registration. The MiCA trajectory is part of this broader regulatory culture.
TRACTIAL highlighted several points:
the Group already operates within a regulated financial environment;
governance, security, compliance, control and customer protection are central topics;
discussions with competent authorities are part of the normal operations of a regulated player;
MiCA must be approached with prudence, method and discipline.
At this stage, the purpose of the webinar was neither to announce a specific date nor to anticipate decisions falling under the responsibility of competent authorities.
5. How can TRACTIAL work with partners within a MiCA framework?
An important question concerned how TRACTIAL could collaborate with partners within a regulated framework.
The principle presented is straightforward: MiCA should not be understood as a licence that can simply be lent or subcontracted freely.
TRACTIAL’s objective is to build a regulated infrastructure operated by a responsible entity, which can be integrated by partners into specific use cases.
Partners may contribute to distribution, technical integration or user experience. However, when a regulated service is provided under TRACTIAL’s responsibility, it must remain governed by its procedures, governance, internal controls and regulatory obligations.
This distinction is essential to understanding the Group’s positioning: TRACTIAL is not seeking to “sell a licence”, but rather to operate a financial infrastructure within a controlled regulatory framework.
6. The proposed free warrants: a framework subject to shareholder approval
The webinar also provided clarification regarding the proposed free warrants submitted to the Extraordinary General Meeting.
A warrant, or share subscription warrant, is a financial instrument granting its holder the right to subscribe to newly issued shares at a later stage according to predefined conditions: exercise price, ratio, duration, timetable and possible listing or transferability terms.
The project presented by TRACTIAL is based on the principle of a contemplated free allocation to all existing shareholders, proportionally to their shareholding.
The webinar reminded participants that the Extraordinary General Meeting does not necessarily determine all final terms and conditions. It votes on a potential framework. If the delegation is approved, the Board may decide whether to implement the transaction depending on the corporate interest, market conditions and the applicable framework.
The steps presented were as follows:
vote of the Extraordinary General Meeting;
possible Board decision;
determination of the final terms;
market disclosure in accordance with applicable rules.
At this stage, the final terms and conditions have therefore not yet been determined.
7. What would the warrants be used for?
The purpose of the warrant project is to associate existing shareholders with the Group’s next development phase.
Under the contemplated structure, the free allocation of warrants would not generate immediate cash proceeds for TRACTIAL. Funds could only be received at a later stage if shareholders decide to exercise their warrants, according to the terms that would then be defined.
Potential proceeds could contribute to financing the fintech platform, notably across several areas:
technological development;
compliance;
partner integrations;
commercial development;
strengthening operational capabilities.
Each shareholder would remain free to decide, depending on the applicable conditions, whether to retain their warrants, transfer them if permitted, or exercise them.
The potential economic value of the warrants would notably depend on their final terms, duration, exercise price and prevailing market conditions.
8. Share accessibility, liquidity and market information
The webinar also addressed the issue of share accessibility and information clarity.
TRACTIAL does not comment on day-to-day share price fluctuations. However, the Group can act on several levers within its responsibility:
improving educational communication around its business model;
publishing information more regularly;
clarifying outstanding financial instruments;
explaining technical topics such as warrants, MiCA or embedded finance;
making content more accessible to retail shareholders;
presenting operational milestones whenever communicable.
TRACTIAL also reminded participants that, during recent capital market transactions, the company reinforced transparency by providing explanatory elements regarding outstanding instruments and their indicative impact, in order to help the market better understand the capital structure.
The share nominal value split forms part of this accessibility approach. It does not guarantee liquidity levels or share price evolution, but it may contribute to making the stock more accessible under certain market conditions.
The stated priority is to reduce uncertainty through clarity, regular information and the progressive presentation of operational achievements.
9. Strategic refocusing: concentrating resources on fintech infrastructure
TRACTIAL reiterated that its strategic refocusing aims to concentrate resources on regulated fintech infrastructure.
The Group’s strategic core is now primarily focused on:
payments;
accounts;
Payment.net;
Fintech-as-a-Service;
embedded finance;
regulated crypto-asset modules;
stablecoin use cases within a regulated framework.
Digital verticals, including certain Web3, gaming or digital asset projects, continue to be monitored with discipline, based on their potential use cases, possible contribution and consistency with the Group’s trajectory.
This refocusing aims to avoid dispersion and strengthen the readability of the business model.
Questions relating to former activities, historical projects or less central businesses should therefore be understood within this logic: TRACTIAL intends to focus its efforts on activities that are most consistent with its positioning as a regulated financial infrastructure provider.
10. Fintech traction: progressively moving from vision to use cases
A significant part of the webinar focused on fintech traction and upcoming operational milestones.
TRACTIAL explained that the Group’s trajectory should now increasingly be assessed through concrete elements:
pilot projects;
partner integrations;
first use cases;
operational flows;
communicable partners;
regulatory progress;
the ability to progressively scale operational flows.
The logic presented is progressive.
Operational building blocks
Payments, accounts, French IBANs, flow management and compliance.
Partner integrations
Connections with SaaS platforms, fintech companies, crowdfunding service providers, Web3 players or international partners.
Concrete use cases
Integration of financial services into existing user journeys.
Operational flows
Progressive increase in payments, accounts, IBANs and integrated services.
The potential scaling of the model will depend on the Group’s ability to transform integrations into real use cases, and subsequently transform those use cases into operational flows.
TRACTIAL did not provide financial forecasts during the webinar. The Group instead favoured a milestone-based approach to allow the market to progressively follow execution.
11. Stablecoins, crypto-assets and Bitcoin: distinguishing operational use cases from asset allocation
The webinar also clarified two topics that are often confused: crypto-asset use cases within the fintech offering and potential Bitcoin exposure.
Stablecoins, crypto-asset modules and MiCA are part of the Group’s infrastructure and use-case positioning. They may be integrated into certain financial journeys within a regulated framework.
Bitcoin follows a different logic: it is an asset that may form part of an allocation or reserve strategy under a disciplined approach.
This distinction is important. TRACTIAL’s product strategy is not based on crypto speculation. It is primarily based on infrastructure, payments, accounts, APIs, compliance, partners and embedded financial use cases.
Exposure to digital assets should therefore be understood as a controlled component distinct from the operational construction of the Fintech-as-a-Service offering.
12. Upcoming milestones to monitor
TRACTIAL presented a framework for understanding the next stages of its execution.
The main milestones will concern the following elements.
Pilots and integrations
Initial embedded finance and Fintech-as-a-Service use cases.
Operational flows
Progressive increase in payments, accounts, IBANs and integrated services.
Partners
Potential communication regarding connected platforms in France or internationally, whenever conditions allow.
Regulatory framework
Progress on the MiCA trajectory and structuring of crypto-asset and stablecoin modules.
Capital allocation
Priority given to fintech execution, with a disciplined approach to digital assets.
This framework enables the market to monitor the Group’s evolution progressively, without reducing the strategy to a single event or indicator.
Webinar conclusion: integrate, operate, measure
TRACTIAL presented its trajectory around a simple idea: transforming regulated infrastructure into practical use cases for platforms.
The Group structures its strategy around four stages:
- Regulated infrastructure
Payments, accounts, regulatory status, PSAN registration and MiCA trajectory. - Embedded finance
Provision of infrastructure components, APIs and embedded financial services. - Practical use cases
Progressive integration into partner platform user journeys. - Progressive scaling
Deployment, learning process, operational flows and continuous improvement of the model.
The final message of the webinar can therefore be summarised as follows: integrate, operate, measure and progressively improve the model over time.
[FAQ] – Frequently Asked Questions about TRACTIAL’s strategy
What is TRACTIAL’s positioning?
TRACTIAL is a French group listed on Euronext Growth Paris, positioned on regulated financial infrastructures. The Group develops solutions combining payments, accounts, proprietary technology, compliance, embedded fintech services and digital asset-related modules within a regulated framework.
What is Fintech-as-a-Service?
Fintech-as-a-Service consists of providing third-party companies with financial infrastructure components enabling them to integrate payment services, accounts, financial flows or financial modules into their own platforms.
What is the role of MiCA for TRACTIAL?
MiCA is a European regulatory framework applicable to certain crypto-asset services. For TRACTIAL, it represents a structuring milestone enabling certain crypto-asset and stablecoin use cases to be framed within a regulated environment.
How can TRACTIAL work with partners under MiCA?
TRACTIAL does not present MiCA as a licence that can be lent or subcontracted. The objective is to operate a regulated infrastructure into which partners may integrate certain use cases, subject to the applicable regulatory framework.
What is a BSA?
A warrant, or share subscription warrant, is an instrument granting the right to subscribe at a later stage to newly issued shares according to predefined conditions. These conditions may include an exercise price, duration, ratio and transferability or listing terms.
Would the proposed free warrants immediately provide cash proceeds to TRACTIAL?
No. Under the contemplated structure, the free allocation of warrants would not generate immediate cash proceeds. Funds could only be received by the company if the warrants were exercised at a later stage by their holders, according to terms yet to be defined.
What happens to related businesses such as Olympus?
Certain projects related to Web3 or gaming continue to be monitored with discipline based on their consistency with TRACTIAL’s priority trajectory: regulated fintech infrastructure. The Group’s refocusing strategy aims to concentrate resources on payments, accounts, embedded finance, compliance and integrated financial services. Complementary activities may be maintained or adapted whenever they provide operational contribution, synergies or utility consistent with this trajectory.
Why does TRACTIAL not provide financial forecasts in this summary?
The purpose of the webinar was to present TRACTIAL’s strategic trajectory, priorities and main operational milestones, rather than financial forecasts. Financial information, indicators or targets are published, where applicable, within the framework of the company’s financial and regulatory disclosures, when determined, communicable and publishable in accordance with applicable rules.
What is TRACTIAL’s strategic priority?
TRACTIAL’s priority is to concentrate its resources on its regulated fintech infrastructure: payments, accounts, Payment.net, embedded finance, Fintech-as-a-Service, compliance and regulated crypto-asset modules.
How can investors monitor strategy execution?
The main elements to monitor are pilot projects, partner integrations, first operational flows, communicable partners, regulatory progress and the Group’s ability to progressively transform use cases into operational activity.
Important Information
This summary constitutes an educational overview of TRACTIAL’s strategic webinar. Its purpose is to facilitate understanding of the Group’s positioning, strategic priorities and the topics discussed during the session.
It does not constitute investment advice, a solicitation to buy, sell or hold TRACTIAL securities, a public offering of financial securities, a financial forecast, or any commitment regarding timing, activity levels, future performance or share price evolution.
The elements relating to warrants, MiCA, partnerships, operational developments and capital allocation remain subject, depending on the case, to corporate decisions, market conditions, discussions with competent authorities, operational constraints and applicable disclosure obligations.
The regulated information published by TRACTIAL, corporate documents and official press releases remain the sole reference sources for the Group’s financial and regulatory information.