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

Number of workplace deaths down by one-third

The number of workplace deaths in Lithuania shrank by 33 percent, or 7 cases, in the first half of...

Unique integrated health monitoring system for stroke survivors patented in Lithuania

Group of biomedical engineers from biotech company Gruppo Fos Lithuania together with researchers at...

President hopes for fair distribution of EU recovery fund

Increased financing for the European Union’s (EU) cohesion policy is one of the biggest expectations...

Lithuanian Airports regain their tempo

The three international airports of Lithuania summarised the results of the second quarter and...

Vilnius approved works of arrangement of the environment of the Palace of Concerts and Sports

The Vilnius City Council approved a joint activity agreement between the Vilnius City Administration...

Top news

Rzeczpospolita editor: Polish president sees Nauseda as his personal ally

Polish President Andrzej Duda regards Lithuania as a strategic partner and considers President...

Interior minister sees no need for tighter controls on returnees

Interior Minister Rita Tamasuniene currently sees no need for tightening controls on people returning...

Zalgiris Kaunas names Austria's Schiller as head coach

Zalgiris Kaunas has named Martin Schiller , a 38-year-old Austrian specialist, as its head coach,...

Minister: facemasks to become mandatory again if coronavirus cases spike

The Lithuanian government would consider making facemasks mandatory in public again if coronavirus...

Only 1 new coronavirus case

On Monday, only 1 new COVID-19 case has been confirmed in Lithuania. In total, Lithuania has already...

|Maža didelių žinių kaina