UK fintechs seek cure for Brexit in Lithuania yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
UPDATE 1 - Revolut to offer deposit services in Bulgaria, Romania Source: Revolut.com
BUCHAREST (Romania), March 2 (SeeNews) - UK-based fintech company Revolut, which holds a European banking licence, said on Tuesday that it will start offering deposit services to customers in Bulgaria and Romania.
Over 220,000 clients in Bulgaria will now have access to additional Revolut Bank services through the company s mobile app, Revolut said in a statement. Their deposits are guaranteed by Lithuanian state company Deposit and Investment Insurance.
In Romania, customer deposits of up to 100,000 euro ($120,259) will be guaranteed under the European deposit guarantee scheme, the company said in a separate press release.
Revolut Bank is now live in Romania, one of its biggest markets finbold.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finbold.com Daily Mail and Mail on Sunday newspapers.
UK fintechs seek ‘cure for Brexit’ Associated Press
VILNIUS, Lithuania: Thanks in part to Brexit, Lithuania is becoming a fintech hub as a growing number of UK-linked digital financial companies are getting licenses there so they can continue to operate in the European Union.
The Baltic eurozone state with a population about a third the size of London is now leading the EU in fintech with over 230 companies, according to the Invest Lithuania government agency.
Some two dozen have links to Britain.
One of the first to come after the 2016 Brexit referendum was London-based Revolut bank.
“Lithuania is currently a hub for our European operations after Brexit,” Virgilijus Mirkes, CEO of Revolut Bank in Lithuania, told Agence France-Presse.
Monday, 22 Feb 2021 08:15 AM MYT
A senior official in charge of supervision at Lithuania’s central bank, Jekaterina Govina, said during the Brexit transition period, fintech companies began to search for an alternative EU harbour and thus Lithuania has become one of their primary options. Reuters pic
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VILNIUS (Lithuania), Feb 22 Thanks in part to Brexit, Lithuania is becoming a fintech hub as a growing number of UK-linked digital financial companies are getting licences there so they can continue to operate in the European Union.
The Baltic eurozone state with a population about a third the size of London is now leading the EU in fintech with over 230 companies, according to the Invest Lithuania government agency.