Lithuania
Revocation of Bruc Bond, UAB Payment Licence for Serious Violations of National Legislation
The Board of the Bank of Lithuania has revoked the payment institution licence held by Bruc Bond, UAB (formerly UAB Moneta International). Such a decision has been taken in view of non-compliance with the requirements pertaining to its existing licence
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Revolut Transferring Business Customers to Lithuanian Entity
You might have seen some updates from Revolut about account migration to their new European license. Revolut’s intention is to make sure that the client experience isn’t interrupted and that Revolut can be used normal. So that Revolut is fully
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30 Years of Lithuanian independence- How Lithuania Got Good at (Fin)Tech
The fall of the Soviet Union brought about more than a dozen sovereign nations, each taking a distinct path from the other. Lithuania, the first country to regain its independence on March 11, 1990, has already developed its fair share
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Mambu is Opening its Prime Engineering Centre in Lithuania
Mambu, an innovative cloud platform for banks, Fintechs and financial service providers, is establishing an engineering centre in Lithuania. The new Vilnius team, which is expected to grow to 100 employees within 3 years, will serve as one of the
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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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