The Bank of Lithuania issued a binding instruction to electronic money institution UAB Monavate prohibiting it from providing financial services to KPTRS Investments Limited, Amnis Europe AG, ConnexPay Ireland Limited, Brighty Digital UAB, Kulipa SAS and Immersve UK Ltd, whether directly or through those companies. The restriction covers the distribution of payment cards issued by UAB Monavate, customer acquisition, establishing business relationships with these customers, and customer service. The instruction takes effect on 29 December 2025 and applies until a separate decision is made, meaning Monavate will not be able to provide services to its customers through the named companies. Monavate must properly inform affected customers, including guidance on transferring available funds to other accounts, expected response times for queries or requests, and where and how to contact the institution for additional questions.
Bank of Lithuania 2025-12-23
Bank of Lithuania orders UAB Monavate to stop serving customers via six named intermediaries
The Bank of Lithuania has instructed UAB Monavate to stop providing financial services to six companies, including KPTRS Investments Limited and Amnis Europe AG, effective 29 December 2025. This restriction covers payment card distribution, customer acquisition, and business relationships. Monavate must inform affected customers and provide guidance on fund transfers and contact information for inquiries.