Bank of Lithuania

Sonect, a Swiss-based fintech platform that allows its users to withdraw cash without a physical ATM, has received an electronic money institution license from the Bank of Lithuania.

Lithuania's government will ask the Prosecutor General's Office to evaluate the then financial watchdogs' actions during the financial crisis, Prime Minister Saulius Skvernelis said on Monday.

Ellex Valiunas advised the global payment cards giant Visa indirectly acquiring 100 % of shares of UAB Earthport Payment Services, a payment institution licensed in Lithuania. Having assessed the provided documents and other information, the Bank of Lithuania did not oppose the acquisition, reports ...

Prime Minister Saulius Skvernelis does not think that a parliamentary investigation into the circumstances that led to the 2009-2010 economic crisis will adversely affect Lithuania's investment environment.

The head of a Seimas committee investigating the circumstances that led to the 2009-2010 economic crisis in Lithuania proposes to ask prosecutors to look into whether the Bank of Lithuania properly supervised commercial banks which could have manipulated Vilnius interbank offered rates (Vilibor) dur...

Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406 million U.S. dollars) in net profits in aggregate last year, the most since 2007, announced the country's central bank on Tuesday.

Nine Lithuanian entities agreed on Monday to cooperate in managing risks in the financial technology (fintech) sector as the country is increasing its presence as a regional fintech hub.

The Lithuanian subsidiary of London-based cross-border payments facilitator Earthport (AIM: EPO) – Earthport Payment Services UAB – has been granted a Payment Institution license by the Bank of Lithuania, an Invest Lithuania press release states.

The Bank of Lithuania reports that Swedbank clients are receiving false text messages about how Swedbank will supposedly cease operations on March 2, that their accounts will be transferred to another bank and an account number is presented to transfer funds.

The LBChain project has garnered significant attention among European FinTech companies: with 21 registrations from countries such as Belgium, Poland, Lithuania, the Netherlands, Finland, Serbia and Sweden, no more than 6 applicants will be deemed eligible to move forward.

The Bank of Lithuania will provide assistance to the Swedish and Estonian financial supervisory authorities in the investigation of recent information regarding alleged money laundering transactions linked with the Swedbank group.

2018 was another hugely successful year for Fintech in Lithuania and saw the country cement its status as one of Europe’s leading Fintech hubs. The sector expanded by 45% and saw big names in the industry like Revolut and Google receive licences from the Bank of Lithuania.

Technology companies from 14 countries around the world, including Australia, China, Canada, Switzerland and others have established partnership with Blockchain Centre Vilnius (BCV), which was founded just a year ago. In an annual event hosted by the centre on January 23, blockchain technology exper...

A month ago, Lithuania was the first country in Europe to grant a specialised banking license to the company Revolut, which caused member of Seimas Stasys Jakeliūnas suspicions. The MP contacted the Financial Crime Investigation Service (FNTT) and State Security Department (VSD), asking them to chec...

Paystra, a fintech company founded and financed by Icelandic payments experts, providing payment services, is establishing its headquarters in Vilnius, Lithuania, and plans to build a team of 30 professionals over the next two years. The company, led by two payment market veterans, will develop and ...

After evaluating world and the country’s economic trends, the bank of Lithuania is lowering this year’s economic growth forecast from 3.4% to 3.2%. Next year’s insights are not changing, it is expected that in 2019, the economy will grow by 2.8%. Wages will continue growing faster than inflation, un...

On Friday European Merchant UAB was granted the license issued by ECB, European Central Bank through the Bank of Lithuania to engage in specialized banking activities. The provision of services is planned to start in June 2019.

The cabinet’s tax and public sector policy is not contributing to resolving income inequality issues, Bank of Lithuania board chairman Vitas Vasiliauskas says.

Due to the growing financial awareness of the people, alternative money transfer platforms are coming more and more popular. At first, their popularity arose among abroad working people, who send money to their relatives or pay taxes. In recent years, the circle of legal entities using these service...

Today, Revolut together with the Bank of Lithuania have announced that the challenger bank received a Specialised Banking License, which will allow offering and passporting an even wider range of solutions to customers in Europe. The move of getting a license in mainland Europe has been considered b...