Latvian Regulator FCMC Grants License to Investment Platform Debitumby Fintechnews Baltic October 12, 2021
Latvia’s Board of the Financial and Capital Market Commission (FCMC) has issued a license to SIA DN Operator, the legal company that runs the Debitum investment platform.
This license is for the provision of investment and ancillary services, allowing Debitum to continue to grow as an investment platform as well as develop and offer asset-backed securities to the public market.
During the transitional period of three months after obtaining a license, the Debitum platform will make a key transition away from offering investments by purchasing claim rights and towards offering financial instruments―specifically, asset-backed securities (ABS).
During this transition, Debitum will make a number of key changes in its internal processes. This includes changes to the current investors, new requirements and documentation for all investors, and more detailed information about certain Debitum policies.
Martins Liberts, Founder of Debitum said,
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“We will allow retail investors to invest in financial instruments previously only available to the big boys.
While backed by various loans to SMEs, these investments directly support growth of SMEs in Europe—all while ensuring fixed income, fixed term, and fixed cashflow investments.”