The Central Bank of Latvia announced that its Supervision Committee has granted SIA MOIN Payments a licence to operate as an electronic money institution and to additionally provide money remittance services. The authorisation allows the firm to issue electronic money and execute payment transactions, with the e-money to be accepted by both legal and natural persons. Its services are intended to help online sellers accept customer payments in local currencies in specific countries and receive settlement in EUR. The licence adds to a growing payments sector in Latvia. The market now includes 12 licensed and one registered electronic money institutions, as well as 10 licensed payment institutions. In 2026 so far, the Central Bank of Latvia has issued four electronic money institution licences and five payment institution licences, compared with three electronic money institution licences issued in 2025. For prospective applicants, the central bank pointed to its licensing guides and pre-licensing consultations, which cover documentation, review timelines and an initial assessment of compliance with regulatory requirements.
Central Bank of Latvia2026-07-09
Central Bank of Latvia licenses MOIN Payments as an electronic money institution with money remittance rights
The Central Bank of Latvia has licensed SIA MOIN Payments as an electronic money institution and authorised it to provide money remittance services. The firm plans to issue e-money and execute payment transactions for online sellers, including acceptance of local-currency customer payments in specific countries and settlement in EUR. Latvia now has 12 licensed and one registered electronic money institutions, alongside 10 licensed payment institutions.