Lithuania

Lithuania Issues 2 Electronic Money Institution Licence

The Board of the Bank of Lithuania issued two electronic money institution licences to SumUp and Goopal Pay, UAB. The licensed companies will be able to offer electronic money issuance (redemption) and certain payment services. Having secured the licence, SumUp

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Vilnius Factoring Company to Issue €10 million in New Microloans with EU Support

Vilnius Factoring Company, a private lending company in Lithuania, has signed a cooperation agreement with the European Investment Fund (EIF) to issue microloans of up to €25,000. Micro-enterprises and farmers in Lithuania can now benefit from non-banking business funding opportunities

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Real Estate Crowdfunding Startup From Lithuania Raises Over €5m

One year in the market, and the real estate investment start-up Profitus is already counting its achievements and envisaging future challenges. The crowdfunding platform Profitus just raised over €5,315,000 and funded 28 real estate projects. The founder and head of

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The World’s First Digital Collector Coin is Under Way in Lithuania

The Bank of Lithuania has signed a contract for programming the world’s first digital collector coin which, together with its physical version, is expected to be issued at the beginning of 2020. “We are moving from an idea to its

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Following On The Steps Of Neighbor Estonia, Lithuania Introduces E-Residency Program

Lithuania is following on the steps of its Baltic neighbor Estonia and introduced an e-residency program for foreigners. According to a report by LRT, the Lithuanian government has passed a legal amendment allowing foreign nationals to obtain the status of

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The Bank of Lithuania Starts Adding Fintech Companies’ Innovations on the Blockchain

LBChain is the world’s first blockchain-based sandbox developed by a financial market regulator, the Bank of Lithuania. The platform was developed through a pre-commercial procurement and is now opening up to international start-ups as well as financial and FinTech companies

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Peer-to-Peer Insurance Platform to be Tested in the Lithuanian Regulatory Sandbox

UAB Workpower has become the first company allowed by the Board of the Bank of Lithuania to enter the Bank of Lithuania’s regulatory sandbox and test a peer-to-peer insurance platform. “We believe that peer-to-peer insurance services could become a cutting-edge

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Bank of Lithuania Issued Three Electronic Money Institution Licences

Bank of Lithuania issued three new electronic money institution licences. The first electronic money institution licence was granted to UAB Verse Payments Lithuania, a subsidiary of the US company Verse Technologies, Inc. The company plans to carry out activities in

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Evarvest Plans to Launch a Commission Free Stock Trading App

Evarvest, a Lithuania-based startup established with a goal of uniting the world’s stock exchanges and making them more widely accessible, reveals plans to launch a unique trading solution addressed to the next generation of investors. The soon-to-be-released app will provide

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10 Hottest Fintech Startups in the Baltic States

Despite being a relatively small market compared to its other European counterparts, the Baltic region is quickly surging ahead in the global fintech race. It was once hailed by the World Economic Forum as one of the most innovative region

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