Licensing in Lithuania

For anyone interested in knowing a bit more about licensing in Lithuania and the regulators our license will be held under, the Bank of Lithuania, here’s an interesting article today by Fintech Futures.

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For the Lithuanian’s amongst us I also thought this was quite an interesting read about the state of the Lithuanian startup ecosystem.

Very nice to be mentioned in there as a rising star too :slight_smile:

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Evarvest on slide 20, under “Wealth management” category :slight_smile:

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:muscle::muscle::muscle:

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Lithuania ranked fourth in the Global Fintech Index City Rankings 2020 released yesterday.

It’s amazing to see such a small nation making a sizeable impact on the Fintech world globally! :fist_left:

If you’re interested in the full global report, it’s available here.

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Seems to be a lot of media around Lithuania the past week which is great to see, and now there’s more with the Bank of Lithuania (the regulator our European license will be held under) releasing the world’s first collectable digital coin. There will be 6 different categories to collect and if you collect all 6 you’ll also receive an actual coin to take home.

Funnily enough I actually enjoy collecting coins myself, but collecting a coin I cannot hold or see? I’m not sold myself just yet. Perhaps this is the future of collectables!

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I hope that the FinTech leaders part reaches similar market cap levels as the top three :slight_smile:

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Surely it’s going in that direction. It’s seriously impressive that a small nation such as Lithuania has been able to secure 4th position on such a ladder considering that only a few years ago it wouldn’t have even been placed on the list.

How long does the licensing process take in Lithuania? And when did Evarvest applied for a license?

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Hey @Baisavas, our license was submitted in December to the Bank of Lithuania. The maximum time frame for approval is 6 months however the average is time frame is 3 months. Taking into account the Christmas period (which always slows things down :expressionless: ) We’re expecting approval around March/April 2020 :slight_smile:

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