Lithuania

Lithuanian Fintech PayRay Throws Its Doors Open as a New Commercial Bank

PayRay, a Lithuanian fintech company, has now launched its banking operations after securing a banking license from the European Central Bank (ECB). The bank will soon start accepting deposits from Lithuanian customers (private individuals), which will be accepted in Euros

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Bank of Lithuania Seeking to Improve AML Framework With Fintech Partnerships

The Bank of Lithuania, together with ACAMS Baltics Chapter, Fintech Hub LT and the Association of Lithuanian Banks, organised a virtual international conference to discuss topical issues and ways for further improving the AML/CTF framework. The “Anti-Money Laundering and Counter Terrorist

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Paysera Switches up to Trade in Physical Gold

Lithuanian payment processor Paysera announced that the company has started trading in physical gold, actual bars and coins rather than units of this precious metal sold on the exchanges. Buyers will be able to store their gold, purchased via the

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Bank of Lithuania Reports Digital Payments Pace Accelerating Despite COVID-19

In the first half of 2020, the number of payment transactions and income of electronic money and payment institutions (EMIs/PIs) has continued to grow at a rapid pace despite the pandemic. “The trends observed in the first half of the

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Invoice Factory Fintech Factris Closes EUR 50M Secured Financing Agreement

Fintech company Factris has closed a new EUR 50 million secured financing agreement with asset manager NN Investment Partners (NN IP). The facility will be used to provide financing to European small and medium-sized enterprises (SMEs) via the purchase of

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Bank of Lithuania Urges Electronic Money Institutions to Comply With Capital Requirements

The Bank of Lithuania urges electronic money and payment institutions (EMIs/PIs) to adhere to the established laws and capital requirements or face the consequence of having their infringements made public as part of their enforcement measures. “Capital requirements, along with

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Bankera Starts Offering Business Loans for Digital SMEs

Bankera, a Lithuanian fintech startup, has started to offer business loans for small and medium-sized enterprises (SMEs). The model for Bankera Business Loans was developed at the European Commission hackathon as a response to COVID-19 back in April. Despite the

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Bank of Lithuania Issues LBCOIN– the World’s First Digital Collector Coin

Today the Bank of Lithuania issued its digital collector coin LBCOIN. Tthis is not only the first digital coin issued by a central bank in the euro area, but also across the world. LBCOIN is dedicated to Lithuania’s 1918 Act

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An AI-Based Biometrics KYC Verification To Purchase Central Bank’s Digital Coin

iDenfy announced a partnership with the Bank of Lithuania to offer digital coin buyers a convenient ID verification process based on artificial intelligence. The startups biometric verification solution will help verify customers’ identities to buy the LBCOIN complying with Know

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Web Browser Opera Accelerates Fintech Push in Europe with Fjord Bank Acquisition

Opera, a browser provider headquartered in Oslo, announced its intention to purchase Fjord Bank subject to regulatory approval. The acquisition will enable Opera to further accelerate its fintech operations in Europe by launching new services aimed at improving consumers’ personal

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