15-07-2025
Lithuanian fintech granted first DLT licence in Baltics
Axiology, a Lithuania-based tech firm operating in the digital assets space, has been granted a licence from the Bank of Lithuania to carry out digital bond issuance via the blockchain.
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The licence, authorised under the EU's DLT Pilot Regime, is the first such one to be issued in the Baltics-Nordics region. It also makes Axiology only the second firm in Europe to receive such authorisation.
As a result, it will be to ramp up its service providing digital bond issuance, trading and settlement to SMEs and retail investors in the region.
According to a statement from Axiology, the firm uses a permissioned version of the XRP ledger as the backbone of its digital assets market infrastructure.
'Despite years of policy work, Europe's capital markets remain costly, fragmented, and inaccessible to smaller participants,' said Marius Jurgilas, Axiology's CEO.
'This licence allows us to operate the full capital market stack under a single, digital-native structure providing process synergies, cost savings and efficiency gains.'
The licence award comes at a time when Lithuania looking to build on its status as one of Europe's most active fintech domiciles by amending its regulatory framework to lower the compliance burden for low-risk companies.
According to Invest Lithuania, the country's investment promotuion agency, the new framework has been developed to be more in line with the EU's latest Anti-Money Laundering and Counter Terrorism Financing rules by enabling companies with lower-risk business models to apply a risk-based approach for simplified due diligence processes.
