Bank of Lithuania

Blockchain Centre Vilnius CEO Justas Šireika
Economy

Blockchain Centre Vilnius to be headed by Justas Šireika

January 25, 2019 EN.DELFI 0

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 experts from the World Trade Organisation, European Commission and Parliament, as well as Lithuanian institutions gathered to discuss the application of blockchain technology in international trade. During the event, Justas Šireika was introduced: he will be taking charge of the BCV, as well as a new start-up financing fund, according to a Blockchain Centre Vilnius press release. […]

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CORPORATE

M. Laurinavičius: Revolut is involved with the Kremlin from beginning to end

January 23, 2019 Media Briefing 0

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 check the financial company’s business model and links to Russian politicians, lrt.lt writes. […]

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Economy

Icelandic payment entrepreneurs establish HQ in Vilnius

January 11, 2019 EN.DELFI 0

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 deploy state-of-the-art electronic payment solutions for European merchants, a press release from Invest Lithuania states. […]

Ekonomika
Economy

New specialized fintech bank setting up in Lithuania

December 17, 2018 EN.DELFI 0

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. […]

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Economy

A new money transfer startup goes to market donating its income for social campaign

December 13, 2018 EN.DELFI 0

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 services has also grown greatly. More and more people are searching for ways, not to overpay for banks and choose to make money transactions, by using money transfer platforms. In Lithuania, such platforms are quite a new innovation, but their initiative and obvious benefits attract bigger and bigger number of users, a press release from TurboTransfers states. […]

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Economy

Revolut turns new page with Lithuania-facilitated banking license

December 13, 2018 EN.DELFI 0

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 by many a hedge against Brexit. Having received both the Specialised Banking license and Electronic Money Institution facilitated by the Bank of Lithuania, Revolut is now effectively safe from any decision regarding Britain leaving the EU. From 2019, Revolut will start accepting deposits and offering retail and business lending, making it an even bigger rival for traditional banks, a press release from Invest Lithuania states. […]

Dalia Grybauskaitė
Politics

Questions for the president about commercial and central banks’ actions in crisis investigation

December 6, 2018 Media Briefing 0

The Seimas Committee on Budget and Finance will request President Dalia Grybauskaitė to answer questions on the financial crisis. She will be sent questions about the actions of commercial banks and the Bank of Lithuania by committee chairman Stasys Jakeliūnas. Former Prime Minister Andrius Kubilius criticises such pursuits and similarly to the president, describes S. Jakeliūnas as inadequate, lrt.lt writes. […]

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Economy

Bank of Lithuania survey: 400 euro needed for better lives

December 6, 2018 Media Briefing 0

While the citizens’ financial circumstances are improving, many families would be content with their living conditions in Lithuania if they had 400 euro higher incomes. This was found by a household survey commissioned by the Bank of Lithuania, its press release states according to lrt.lt. […]

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Economy

Lithuania’s financial regulator launches its regulatory sandbox

September 28, 2018 EN.DELFI 0

Startups and other businesses developing financial technologies (FinTech) will soon be able to test their innovative products in a live environment under the guidance and supervision of the central bank of Lithuania. Submission of applications to enter the Bank of Lithuania regulatory sandbox opens on 15 October 2018, a press release from the institution states. […]

Catalyst Award 2018
Economy

Bank of Lithuania – winner of Central Banking’s first Catalyst Award

September 7, 2018 EN.DELFI 0

The Bank of Lithuania has been selected as the winner of the first Catalyst Award in the FinTech & RegTech Global Awards 2018 organised by Central Banking. The award was given and the Bank of Lithuania’s activities in the field of innovation were presented in Singapore, one of the most important global financial centres, the Awards running in unison with the central banks’ global summit focusing on new FinTechs and supervisory challenges, a press release from the Bank of Lithuania states. […]

#switch
Economy

Fintech in Lithuania: can we take the leading position already?

September 5, 2018 EN.DELFI 0

Lithuania’s image on the international scene is promising: in 2017 alone, 35 fintech companies were established here, and a few weeks ago the 16+1 Heads of Government of China and the countries of Central and Eastern Europe agreed to set up a financial technology coordination centre and organise a high-level fintech conference in 2019. […]