The Supervision Committee of Latvijas Banka decided to issue a total of three licences to two companies. Nodu Digital SIA received a licence for the provision of crypto-asset services and a licence to operate as a payment institution, while SIA MOIN Payments was granted an electronic money institution operating licence with the additional right to provide money remittance services.
The licence for the provision of crypto-asset services enables Nodu Digital SIA to exchange crypto-assets for funds and provide transfer services for crypto-assets on behalf of clients. Meanwhile, the payment institution licence enables the company to execute payments, including transfers to payment accounts.
Nodu Digital SIA is the tenth company to hold a licence issued by Latvijas Banka in accordance with the requirements established in the Markets in Crypto-Assets Regulation (MiCA). The MiCA Regulation entered into force in late 2024, introducing a unified legal framework for the crypto-asset sector across the European Union, including the requirement for crypto-asset service providers to obtain authorisation. Once authorised in one EU Member State, a crypto-asset service provider may offer services throughout the EU under the cross-border notification mechanism.
SIA MOIN Payments intends to issue electronic money and execute payment transactions, with its electronic money being accepted by both legal and natural persons. The services will enable customers that make sales online to swiftly accept payments in local currencies from their customers in specific countries and receive settlements in euro.
At present, Latvia has 12 licensed and one registered electronic money institutions, as well as 10 licensed payment institutions. The number of electronic money institutions and payment institutions in Latvia continues to grow steadily. This year alone, Latvijas Banka has already issued four electronic money institution licences and five payment institution licences, while three companies received electronic money institution licences during 2025.
Companies seeking a licence from Latvijas Banka are encouraged to use the licensing guides prepared by the central bank. These guides provide detailed information on the licensing process and requirements, including the documents to be prepared and submitted, application review deadlines and other key aspects of the authorisation process.
Businesses operating in the crypto-asset sector can also benefit from Latvijas Banka’s overview of the classification of crypto-assets within the MiCA framework, which explains which crypto-assets fall under the scope of the MiCA Regulation and which are subject to other legal acts.
To ensure a smooth licensing process, Latvijas Banka encourages companies to take advantage of its pre-licensing consultations. During these consultations, the central bank’s experts provide guidance on the applicable legal framework and conduct an initial assessment of a company’s compliance with regulatory requirements. Cooperation at the pre-licensing stage helps companies prepare high-quality licence applications and facilitates an efficient authorisation process. Consultation requests can be submitted via Latvijas Banka’s website.
