aA
Following media reports that the UK-based fintech startup Revolut, which already has an e-money license in Lithuania, plans to apply for an e-money license in Ireland, the company says the move does not change its plans in Lithuania.
Revolut
Revolut
© Bendrovės archyvas

According to Revolut, the bank's establishment work is going on at full capacity and the company has already employed 41 people, with plans to double it by the end of this year. The company plans to launch its banking services in the second half of this year.

"Since our goal is to ensure stable services and protection for our growing circle of clients, Revolut's long-term program includes plans to diversify operations in Europe. To have several different institutional e-money licenses is a usual practice for large companies, like Google or Facebook, and this move has nothing to do with the establishment of the Revolut Bank in Lithuania," Ramunas Stankevicius, deputy CEO at Revolut Bank, said in a statement.

Earlier, Revolut announced its plans to postpone the launch of its specialized bank's operations in Lithuania from the first to the second half of this year.

Revolut received a specialized bank license in Lithuania in December.

A special government commission is currently conducting its third review of whether the London-based firm meets Lithuania's national security interests.

A bill Revolut is interested in is slowly pushing its way through the Lithuanian parliament. It would allow the use of a driver's license for identification purposes in Lithuania.

The bill has drawn criticism from the Financial Crime Investigation Service and the Special Investigation Service as they say the use of driving licenses, which give no information on the holders' citizenship, could increase terrorist financing and money laundering risks.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Palanga Airport is preparing for reconstruction: runway and parts of apron to be renewed

Palanga Airport is preparing for an important reconstruction in the autumn of 2021, as the runway of...

Skvernelis sees EU's proposed emission cut target as achievable (1)

The European Commission 's proposal to cut greenhouse emissions in Europe by 55 percent by 2030 is...

Lithuania mulls allowing third-country businesses open e-money accounts

Lithuania is considering facilitating conditions for Belarusian businesses to move to Lithuania...

Lašas: engineering students have many opportunities in space

Students that choose technological sciences are welcome in many companies, including space technology...

Lithuania and US agree to rigorously evaluate 5G equipment suppliers

Lithuania and the United States have signed a joint declaration and agreed to step up cooperation...

Top news

Mandatory testing for all new hospital patients ordered visits tightened

The Lithuanian government is planning to reintroduce mandatory coronavirus testing for patients on...

Survey: President's popularity up, Health minister's down

Lithuanian President Gitanas Nauseda has seen his popularity rating grow in recent months, whole...

PM: some mass gatherings to be banned as of October

In response to a recent spike in coronavirus infections, the Lithuanian government is planning to...

President: COVID-19 numbers are growing everywhere but Lithuania is better-prepared

The number of coronavirus cases is growing in all countries, and Lithuania is this time better...

70 new coronavirus cases

On Sunday 70 new COVID-19 cases were detected in Lithuania . It adds to 3814 confirmed coronavirus...

|Maža didelių žinių kaina