The world is changing fast, and technologies are constantly evolving. This makes technologies more attractive and therefore more and more new business models are emerging.
At the same time, laws and regulations are continuously being updated so that all market participants can operate under the same conditions in regulated areas. Acting as a payment institution, a provider of virtual currency services and a financial institution has become particularly popular, and regarding this, the number of applications for an activity licenses has also increased.
With extensive experience in money laundering prevention and compliance and a strong team of financial experts, we advise clients on financial services, electronic money, licensing of payment institutions, capital formation, listing of mutual lending platform operators and other operational issues.
The fintech lifecycle:
The lifecycle of a Fintech may start with an innovative and digital first concept, but may be underpinned with regulation, governance and a strong growth strategy. It’s important to have advisors in place that understand the sector – as we know, technology moves significantly faster than tax reform and many jurisdictions are still trying to figure out how they regulate and tax the digital economy.
Lithuania‘s Fintech Lanscape:
Source: Invest Lithuania 2021-2022 report "The Fintech Landscape in Lithuania"
GRANT THORNTON BALTIC NEWSLETTER
Subscribe to audit, accounting, tax, legal and business advisory news. be the first to receive Grant Thornton Baltic news, advices of experts, professional business insights and information about future events.