No Picture
Economy

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

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. […]

No Picture
Economy

Revolut turns new page with Lithuania-facilitated banking license

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

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. […]

Vitas Vasiliauskas
Economy

Lithuania’s central bank was not cautious enough before crisis, chairman says

The Bank of Lithuania could have tightened supervision rules for the banking sector before the last crisis but failed to do so, Vitas Vasiliauskas, chairman of the Bank of Lithuania, says. […]

Vilnius Marathon
Economy

Lithuanian marathon first ever to reward runners with crypto tokens

15,000 Vilnius marathon participants will get a chance to use Lympo Run, an app which will reward runners with crypto tokens for running, a press release from Lympo states. […]

Catalyst Award 2018
Economy

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

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. […]

Bank of Lithuania
Politics

Bank of Lithuania to look into additional info on VIA SMS Group

The Bank of Lithuania will analyze additional information on VIA SMS Group after Arvydas Anušauskas, a member of the Lithuanian parliamentary Committee on National Security and Defense, representing the opposition conservative Homeland Union – Lithuanian Christian Democrats, said earlier the Latvian-capital business group VIA SMS Group in Lithuania includes people who have direct ties with the owners of the collapsed Parex bank. […]

Arvydas Anušauskas
Politics

VIA SMS Group linked to Parex collapse, Lithuanian MP says

Arvydas Anušauskas, a member of the Lithuanian parliamentary Committee on National Security and Defense, representing the opposition conservative Homeland Union – Lithuanian Christian Democrats, has called on the government to disclose whether activity of the Latvian-capital business group VIA SMS Group in Lithuania has been assessed in terms of national security. […]