Lithuania
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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Electronic Money and Payment Institutions Shows 20% Growth In Lithuania
At the end of 2019, a total of 115 electronic money institutions (EMIs) and payment institutions (PIs) operated in Lithuania, comprising a one-fifth increase compared to the previous year. According to the audited annual financial statements, corporate income from licensed
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Bank of Lithuania Releases Digital Currency Collector Coin
The Bank of Lithuania will be issuing their blockchain-based LBCOIN digital collector coin LBCOIN on 23 July which claims to be the world’s first of its kind. The development of LBCOIN was initiated during the hackathon held by the central
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Paysera Electronic Payment Network Expands to Kosovo
The electronic payment network Paysera is expanding to Kosovo. The Central Bank of Kosovo has already granted Paysera Kosovo the first Electronic Money Institution (EMI) licence in the country. When Paysera started operating in the Baltics 16 years ago, transfer
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