Bank of Lithuania issued three new electronic money institution licences.

The first electronic money institution licence was granted to UAB Verse Payments Lithuania, a subsidiary of the US company Verse Technologies, Inc. The company plans to carry out activities in Lithuania and other EU Member States and offer its customers a variety of digital financial services.

The second electronic money institution licence was issued to Wittix UAB, which plans to offer Lithuanian consumers a new mobile payments app and an e-wallet, allowing them to make payments with their smartphones. The only beneficial owner of the company is an Israeli citizen.

The third electronic money institution licence was granted to Silvergate LT. The company aims to consolidate its position as a universal payment service provider, offering an integrated payment service solution for merchants. The only beneficial owner of the company is a citizen of Sakartvelo who has a residence permit in Cyprus.

Featured image credit: Bank of Lithuania