The Central Bank of Latvia’s Supervision Committee has granted Trek Technologies SIA, which operates in the European Union under the Backpack EU brand, a licence to provide crypto-asset services and a separate licence to operate as a payment institution. The decision authorises the company to offer a defined set of crypto-asset services and to execute payments, including transfers to payment accounts. The crypto-asset licence covers custody and administration of crypto-assets for clients, exchange of crypto-assets for funds and for other crypto-assets, execution of client orders, and transfer services for crypto-assets. With this authorisation, Trek Technologies SIA becomes the fifth company licensed by the Central Bank of Latvia under the Markets in Crypto-Assets Regulation. The central bank noted that MiCA introduced a unified European Union framework for the sector and that a provider authorised in one Member State may offer services across the EU through the cross-border notification mechanism.
Central Bank of Latvia2026-05-27
Central Bank of Latvia grants Trek Technologies crypto asset and payment institution licences for Backpack EU
The Central Bank of Latvia’s Supervision Committee has licensed Trek Technologies SIA (Backpack EU) to provide crypto-asset services and operate as a payment institution, allowing it to execute payments and transfers to payment accounts. The crypto-asset licence covers custody and administration, exchange, execution of client orders and transfer services, making Trek Technologies SIA the fifth firm authorised under the Markets in Crypto-Assets Regulation, enabling EU-wide passporting via cross-border notification.