Latvia's Ministry of Finance, working with Latvijas Banka, has issued for public consultation a 2025–2027 strategy for developing Latvia’s financial technology sector, aiming to position the country as a competitive FinTech hub in the Baltic and Nordic region. The strategy targets a 30% increase in the number of FinTech companies registered in Latvia (from 130 currently), a 15% increase in new capital investment into FinTech, and an 18% rise in FinTech-related employment. The plan is organised around four action areas: infrastructure and regulation, access to capital, promotion of Latvia abroad, and talent availability. Proposed measures include creating a single contact point for starting a FinTech business and accelerating administrative processes, expanding the use of English in public-sector procedures, improving funding eligibility criteria and access to capital markets in cooperation with ALTUM and the Investment and Development Agency of Latvia, and establishing a FinTech acceleration programme. The release also highlights existing initiatives such as a licensing regime for crypto-asset service providers, access to Latvijas Banka’s payment system for non-bank payment service providers, and supervisory support tools including a pre-licensing process, a regulatory sandbox, an innovation centre and a securities sandbox. The strategy is open for public consultation, with the supporting report published on Latvia’s Legal Acts Portal.

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