Bank of Lithuania
2018-07-16
1 of 1

The Board of the Bank of Lithuania has issued a licence of an electronic money institution to UAB TransferGo Lithuania. Its sole shareholder is TransferGo Holdings Ltd, which is also the owner of the payment institution TransferGo Ltd established and operating in the United Kingdom.

In addition to the electronic money issue and redemption service, UAB TransferGo Ltd plans to provide two more payment services – credit transfer and money remittance.

Development of a regulatory and supervisory ecosystem conducive to the financial services provision as well as fostering innovations in the financial sector is one of the Bank of Lithuania’s strategic directions for 2017–2020. Together with other domestic institutions, the Bank of Lithuania aims to ensure that Lithuania becomes a FinTech hub in the Nordic-Baltic region (NB8).