2021-03-15
Approval of the acquisition of the qualifying holding in Medicinos bankas’ authorised capital and voting rights
Taking into account the application of Konstantinas Karosas and the proposal of the Bank of Lithuania, the European Central Bank did not object to the acquisition of the qualifying holding in UAB Medicinos bankas’ authorised capital and voting rights. More information available here.
Electronic money institution licence issued
The Board of the Bank of Lithuania issued an electronic money institution licence to KogoPay UAB.
KogoPay UK Limited, a payment institution operating in the United Kingdom since 2015 and owned by one of the shareholders of KogoPay UAB, provides financial services and focuses on money transfers between the United Kingdom and Asian countries.
After KogoPay UAB obtains the electronic money institution licence, KogoPay UK Limited plans to expand the range of services it provides: in addition to money transfers, the institution will offer an electronic wallet available through a mobile app as well as a secure and cheap choice of currencies that are relevant to potential customers of KogoPay UAB.
The intended customers of the new institution are the European tourists and businesspeople travelling to Southeastern Asia, persons travelling from this region to Europe as well as those travelling between the United Kingdom and Lithuania.
KogoPay UAB shares are held by holding companies registered in Singapore and the United Kingdom.