German cryptocurrency custody and staking services group Finoa is opening a branch in Vilnius, the country’s investment promotion agency Invest Lithuania announced Wednesday.
The new office will work with several Finoa Group companies and focus on operations, compliance, anti–money laundering, and technology. The company plans to expand the Vilnius team’s responsibilities over time.
“Lithuania has emerged as one of the leading fintech and crypto hubs in Europe and pairs an exceptional and deep talent pool with a thriving innovation ecosystem supported by progressive regulation,” said Finoa co-founder and CEO Christopher May. “We are confident we have made the right choice for our expansion.”
Deputy Economy Minister Darius Zailskas said Finoa’s decision reflects the maturity and diversity of Lithuania’s fintech sector.
“The arrival of such a cutting-edge financial provider as Finoa reflects confidence in Lithuania’s robust fintech ecosystem – we are now an established destination for companies looking to scale and deliver complex solutions in this rapidly evolving field,” Zailskas said in a statement.
Invest Lithuania Managing Director Elijus Čivilis said local talent played a decisive role in Finoa’s decision.
“We also have the qualified talent needed to support companies continuously expanding services across markets governed by various regulatory requirements and licensing frameworks,” Čivilis said. “I’m confident that Finoa will find all the resources needed here to scale their groundbreaking solutions.”
Founded in Berlin in 2019, Finoa is one of the market leaders in digital asset custody and staking. The company serves investment and asset management firms, family offices, funds, and high-net-worth individuals. It employs more than 60 specialists in Germany and Portugal, according to the statement.
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