tl;dr: Taler Operations AG is being founded in Bochum to operate the GNU Taler payment system in Euros, after GLS Bank withdrew from its originally planned role as e-money issuer in January 2026. The new company, a subsidiary of Taler Systems SA, will apply to German regulator BaFin for an e-money license and is raising capital from investors (minimum €50,000) to fund the launch. GNU Taler itself remains free software; only the operating service is licensed.