Friday, June 5, 2026

Headlines

fintech

BlockBen will issue the first cryptocurrency in Latvia

The financial technology company BlockBen, which very recently received a license from the Bank of Latvia to provide crypto-asset services, will issue the first patented cryptocurrency CrowdX in Latvia and the European Union for the crowdfunding service provider SIA CrowdedHero. This cooperation marks a new era for blockchain-based crowdfunding in the European Union, since in Latvia no such token has been issued so far – neither before nor after […]

Revolut’s valuation has reached 75 billion USD

Today, the financial technology company Revolut announced the completion of a share sale, valuing the company at 75 billion USD. The 75 billion USD valuation is supported by strong business momentum and solid financial results. Revolut’s 2024 revenues increased by 72% to 4.0 billion USD, while profit before tax rose by 149% to 1.4 billion USD. This trend continued […]

Financial Times ranks Eleving Group 57th among the fastest-growing European companies of the last decade

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, is ranked 57th in the overall “Europe’s Long-Term Growth Champions 2025” rating and 1st in the financial technology, financial services, and insurance category. Eleving Group is the only company from Latvia included in the list. “Eleving Group is currently operating in 17 countries worldwide. Over the past decade, we have strategically expanded […]

MICA regulation: competitive “on paper”, in practice – nothing

Since mid-August, the number of licensed crypto-asset service providers in the European Union has increased by 52%, reaching 82 companies. Latvia, however, has not yet issued any licenses, as the Bank of Latvia has concerns about the potential market players’ reputation and level of maturity, the Head of Financial Technology at the Bank of Latvia emphasized at a meeting of the Subcommittee on Innovation Ecosystem Development of the Saeima Sustainable Development Committee […]

New opportunities for those rejected by banks: Flow has received authorization for crowdfunding

For new entrepreneurs who are often refused the necessary start-up funding by banks, there is now another option – the supervisory committee of the Bank of Latvia has granted SIA Flow permission to provide crowdfunding services. Now there are already five companies offering such services. Flow is registered in the register of crowdfunding service providers with the right to facilitate the granting of loans and to offer, through crowdfunding […]

Revolut becomes more family-friendly: Two paid plans, one reduced price

The global financial app Revolut, which has more than 400,000 users in Latvia, today announced the launch of a new program – Duo – in Latvia. The new offer allows two users to enjoy all the benefits of a Revolut plan at a reduced total price, providing premium-level features while maintaining the autonomy of each individual account. Revolut Duo is intended for family members or partners who want to share […]

Experts note the Ministry of Finance’s inability to think long-term: several goals have already been met or cannot be achieved within the specified timeframe

The Ministry of Finance has submitted the FinTech development strategy for public consultation, which is in fact already outdated and does not correspond to the situation in real life, Inc.Baltics has found. The entire sector supports the development of the FinTech strategy as a document to adhere to and use for setting goals. Experts from the Riga Business School think tank “Baltic Finance Center” of Riga Technical University even took the initiative last year and, using the European Commission’s Recovery and Resilience Facility […]

25 companies are interested in MiCA licenses in Latvia: Lithuania, by issuing the first license, has attracted the US giant Robinhood

Five companies have applied for crypto-asset service provider licenses and are in the licensing process, while another 20 companies are in the pre-licensing consultation process. This was reported to Inc.Baltics by the Bank of Latvia. Meanwhile, by issuing a MiCA license to the US company Robinhood, the Bank of Lithuania has ensured that the financial technology giant will open its first representative office in Europe in Lithuania. While the giant Binance, based in the United Arab Emirates, […]

Revolut becomes the title partner of the Audi F1 team

The Formula 1 Audi team and the global financial technology leader, the United Kingdom–based online bank Revolut, registered in Lithuania and with more than 60 million customers worldwide, have signed a cooperation agreement. Starting from the 2026 F1 season, Revolut will be the title partner of the Audi team. The partnership brings together two top-tier brands with a shared goal of challenging existing leaders and driving innovation both in motorsport and […]