Lithuania
Lithuania’s Fintech Industry in 2020: Review of This Year’s Key Developments
Lithuania’s fintech ecosystem continued to grow in 2020 on the back of government-led initiatives, favorable regulations, and booming digital finance activities caused by the COVID-19 pandemic. As of Q3 2020, Lithuania is home to more than 200 fintech companies and
Read More
Lithuanian E-Money Transactions Skyrocket in 2020
Over the first three quarters of 2020, the total number of payment transactions as well as income of electronic money and payment institutions (EMIs/PIs), which holds a significant share of the Lithuanian fintech sector, has continued to grow according to
Read More
Nasdaq Set to Bolster Its Presence in Lithuania With 100 New Tech Jobs
Nasdaq will expand its footprint in Lithuania by adding up to 100 new technology job at its Vilnius office through an initiative with Invest Lithuania, a non-profit organisation owned by the Ministry of Economy of the Republic of Lithuania. Since
Read More
European Central Bank Grants Sixth Specialised Bank License to Crius LT, UAB
The European Central Bank (ECB) granted its sixth specialised bank license to Crius LT, UAB following the assessment and proposal of the Bank of Lithuania. The main difference between a specialised and a full-range bank is that the former is
Read More
MUFG Investor Services Fintech Limited Plans to Establish a Lithuanian Office
MUFG Investor Services FinTech Limited has announced its plans to open a representative office in Lithuania, it’s first office in the country. The location’s aim will be to attract new talent in the region to grow the firm’s existing team
Read More
Bank of Lithuania Grants Electronic Money Licenses to Two UK Companies
The Bank of Lithuania issued electronic money institution licenses to UK companies FIDELIS EUROPE, UAB, and DiPocket, UAB. This authorises them to issue electronic money and provide payment services set forth in the Republic of Lithuania Law on payments. Following
Read More
SME Finance Receives EUR 80 Million Funding From European Investment Bank
The European Investment Bank (EIB) has backed Lithuanian-based neobank, SME Finance, with a funding of EUR 80 million. It is said to be the largest investment awarded by EIB to a fintech lender. SME Finance had announced their intentions of
Read More
Curve Europe UAB Gets the Green Light for E-Money License in Lithuania
The Board of the Bank of Lithuania has granted an electronic money institution license to Curve Europe UAB, a subsidiary of Curve OS Limited, an electronic money institution licensed in the UK. This move authorises it to issue electronic money
Read More
SME Finance Plans to Launch Neobank in Lithuania
Lithuanian fintech startup SME Finance is planning to launch a neobank targeting small and medium-sized enterprises in mid-2021. The bank will only be operating online via a mobile app, providing financial services such as loans, transfers and deposits. Mindaugas Mikalajūnas,
Read More
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
Read More