The Bank of Lithuania has issued the country’s first license for crypto asset services to Robinhood Europe, a subsidiary of US-based fintech company Robinhood.
The license allows Robinhood Europe to provide crypto asset custody, administration, and transaction services in Lithuania and across the European Union, the central bank announced.
Robinhood Europe is part of the Robinhood group, a brokerage firm founded in the United States in 2013. Earlier in April, the Bank of Lithuania also granted the company an A-category brokerage license.
To date, 29 companies have applied to the central bank for a crypto asset service license, with 10 applications currently under review.
Earlier this May, Lithuania’s parliament extended the transition period requiring crypto firms to obtain a license until the end of this year. Companies that fail to secure a license by then will not be permitted to operate.
As of now, 374 crypto-related companies are registered in Lithuania.
Newsletter
Every Friday morning.
