The Central Bank of Latvia announced that its Supervision Committee has granted SIA Paybis Europe a licence to provide crypto-asset services and a separate licence to operate as a payment institution. This makes Paybis Europe the first crypto-asset service provider in Latvia to receive authorisation for payment services at the same time, and the third company in Latvia to be licensed under the European Union Markets in Crypto-Assets Regulation. The crypto-asset services licence covers custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds and for other crypto-assets, execution of orders, crypto-asset advice, and transfer services. The payment institution licence allows the firm to execute payments, including transfers to payment accounts. The Central Bank of Latvia also noted that, under MiCA, authorisation in one European Union member state allows a crypto-asset service provider to offer services across the EU through the cross-border notification mechanism.
Central Bank of Latvia 2026-05-13
Central Bank of Latvia grants Paybis Europe Latvia's first combined crypto-asset services and payment institution licences
The Central Bank of Latvia’s Supervision Committee has granted SIA Paybis Europe a crypto-asset services licence and a separate payment institution licence, making it the first crypto-asset service provider in Latvia with simultaneous payment services authorisation and the third firm licensed under the EU Markets in Crypto-Assets Regulation. The crypto-asset licence covers custody, exchange, execution of orders, advice and transfer services, while the payment institution licence permits execution of payments, including transfers to payment accounts. Under MiCA, authorisation in one EU member state enables cross-border provision of services across the EU via a notification mechanism.