Latvia's Ministry of Finance, working with Latvijas Banka, has prepared and submitted to the Cabinet of Ministers a 2026–2027 strategy to develop the country’s FinTech sector and position Latvia as a competitive FinTech centre in Europe. The strategy targets a 30% increase in the number of FinTech companies registered in Latvia, 15% in new capital investment into FinTech, and an 18% increase in FinTech-related jobs. Measures are organised around four action areas: infrastructure and regulation, access to capital, promotion of Latvia abroad, and talent availability. Planned steps include easing FinTech market entry and accelerating administrative processes, expanding the use of English in financial supervision processes when communicating with foreign FinTech firms, improving funding eligibility criteria and access to capital markets in cooperation with ALTUM and the Latvian Investment and Development Agency, reducing bureaucracy around funding tools, promoting early-stage investment, and establishing a FinTech acceleration programme. The update also notes existing support and supervisory tools, including a licensing regime for crypto-asset service providers, non-bank payment service providers’ access to Latvijas Banka’s payment system, a pre-licensing process, and regulatory and securities sandboxes. The strategy has been submitted for Cabinet consideration, with an accompanying information report published on the Legal Acts Portal.

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