Lithuania

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

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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

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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

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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

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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,

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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

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Bank of Lithuania Seeking to Improve AML Framework With Fintech Partnerships

The Bank of Lithuania, together with ACAMS Baltics Chapter, Fintech Hub LT and the Association of Lithuanian Banks, organised a virtual international conference to discuss topical issues and ways for further improving the AML/CTF framework. The “Anti-Money Laundering and Counter Terrorist

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Paysera Switches up to Trade in Physical Gold

Lithuanian payment processor Paysera announced that the company has started trading in physical gold, actual bars and coins rather than units of this precious metal sold on the exchanges. Buyers will be able to store their gold, purchased via the

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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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