Lithuania

Strong Together; Drones, Corona-Online-Hackathons and other Activities During Vilnius Lockdown

Because of the coronavirus pandemic, Lithuanian government has imposed quarantine – and people in the capital Vilnius reacted with solidarity and speed. In the first week of quarantine thousands of volunteers offered their help, entrepreneurs have raised large sums for

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Lithuania’s Fintech Landscape in 2019 and 2020 Startup Map

2019 was a key year for Lithuania’s fintech sector, with the number of companies in the sector rising to more than 200 and the country being recognized as one of the most dynamic fintech hubs globally, according to a new

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Bank of Lithuania Approved The Sample Of The World’s First Digital Collector Coin

The Board of the Bank of Lithuania has approved the sample of the physical version of the digital collector coin – an original silver coin bearing a denomination of €19.18 to commemorate the year of the Act of Independence of

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Lithuania Brings World’s First Blockchain Based Digital Collector Coin

The world‘s first blockchain-based digital collector coin created by the Bank of Lithuania is dedicated to the 16 February 1918 Act of Independence of Lithuania and its 20 signatories. The coin is expected to be issued in spring 2020. “This

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Fintech Startup PayRay Got a Lithuanian Banking Licence

Following the assessment and proposal of the Bank of Lithuania, the European Central Bank (ECB) granted PayRay, UAB a banking licence, authorising it to receive deposits and other repayable funds. The company is currently providing factoring services and microcredits to

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Digital Banks – A Common Practice Or The Distant Future?

Ten years ago we probably haven’t even thought of the possibility to order a bank card online and that there will be no longer need for us to go to the bank unit where, in the end, the number of

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How Danske Bank Became one of The Largest Employers in Lithuania

Currently, Danske Bank employs 3,725 employees and the average salary is 2,500 euros. The original interview was published in 15min.lt by Ernetas Naprys. Danske Bank has created more jobs than the two major banks operating in the country taken together. According to

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Vilnius Ranked as No. 1 City in Tech Startups

Financial Times’ fDi Intelligence division announced the list of 30 cities that have attracted the most greenfield Foreign Direct Investment (FDI) projects of tech startups per capita during the years 2016-2018. Vilnius was ranked as the leading city and outranked cities like Singapore, Tel

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Bank of Lithuania in Final Sandbox Testing with IBM and Tieto for LBChain

The Bank of Lithuania has chosen IBM Polska and Tieto Lietuva, UAB to proceed to the next stage of its endeavour to create LBChain, a blockchain-based technological platform. The winner of the project will be revealed after the final testing

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Bank of Lithuania Provides Recommendations on Raising Capital Through STOs 

The Bank of Lithuania has issued the Guidelines on Security Token Offering (STO) which provide greater regulatory clarity and aim at higher investor protection. “The current focus on security token offerings is taking over the waning interest in initial coin

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