2025-12-17
Lietuvos bankas has granted an authorisation of a crypto-asset service provider to UAB Decentralized for the provision of custody and administration of crypto-assets, transfer services for crypto-assets, exchange of crypto-assets for funds and other crypto-assets.
The company has also obtained the payment institution licence, authorising it to perform operations with electronic money tokens (EMT).
UAB Decentralized operating under the CoinGate brand, is one of the oldest virtual currency exchange operators in Lithuania (founded in 2014) with more than 50 employees.
The company's business model is a platform for managing crypto-related services: payment processing, transfers, conversion, and storage.
The company, whose shareholders and managers are citizens of Lithuania, intends to carry out a significant part of its activities by providing services in the Lithuanian market.