Curve establishes subsidiary in Lithuania to serve EEA customers

By Megha Bhattacharya

UK FinTech Curve today announced the establishment of a subsidiary in Lithuania. The new development is expected to help Curve to serve customers across the EEA, following the Brexit transition period end. The country was selected as the EEA base because of its AML capabilities, FinTech friendly regulator and varied workforce.

Shachar Bialick, Founder and CEO, Curve said, “We chose Lithuania as a gateway to Europe because of the ease of business there, its welcoming culture and world-class AML standards. On behalf of everyone at Curve, I’d like to thank those involved in making Curve’s application a success, including the Bank of Lithuania and Invest Lithuania. I’m excited about the huge boost to the Curve platform that our license in Lithuania will give to our growth and ability to serve customers around Europe.”

The FinTech intends to invest in scaling up its AML, Compliance and Risk management operation from their Lithuanian base. The company is also assessing what other business streams can be established in its Vilnius office, as it grows across Europe.

“The fact that Curve chose Lithuania testifies to our strengths, which include innovation-friendly regulation and one of the most vibrant FinTech communities in Europe. We are certain that Curve’s seal of approval will encourage other disruptive companies in the field of Finance to tackle the EEA market from Lithuania,” stated Mantas Katinas, General Manager of Invest Lithuania.

Recently, core banking technology provider Thought Machine was selected by the FinTech with an aim to boost the latter’s new credit and loan offering – Curve Credit. The FinTech will leverage Thought Machine’s Vault and use its Smart Contracts product building system. Vault SaaS offers all of the features of Vault and can support a bank of any size, scaling as required.