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. "Lithuania is currently a hub for our European operations after Brexit," Virgilijus Mirkes, CEO of Revolut Bank in Lithuania, told AFP. Lithuania's central bank has also set up a "regulatory sandbox" -- a framework to allow fintech companies to test out innovations. Another company that has recently set up in Lithuania is London-based DiPocket Group, which has developed an e-money wallet app. He said he found the central bank "both strict and supportive" and described the local workforce as "generally English-speaking and with reasonable financial expectations".

Source: News 24 February 21, 2021 12:56 UTC