Vice-Minister of Finance J. Kizenevič in New York: "We discuss with representatives of the US fintech sector their expectations for more active development in Lithuania"
At the New York Fintech Week event "The European Union Entry and Scaling Checklist: Lithuania Edition”, Vice-Minister of Finance Januš Kizenevič stressed that for US companies considering moving to Europe, Lithuania provides access to the entire EU market through a well-functioning licensing and regulatory environment, a decade-long real-life pool of technology and talent, and a start-up ecosystem capable of creating globally competitive companies.
"With regard to the regulatory environment, risk and compliance requirements are becoming an increasingly important factor in the development of financial institutions. I know that this is perhaps the most important issue for any US company considering operating in the EU. Lithuania offers one of the most transparent and efficient licensing processes in the Old Continent, and once licensed, it is possible to reach as many as 450 million users in the European Union", J. Kizenevič emphasizes.
According to the Vice-Minister, Lithuania's financial technology strategy considers risk management and sustainable growth to be a key priority.
“We were among the first in the world to implement the Financial Technology Agenda of the International Monetary Fund and the World Bank, a framework that clearly aligns openness to innovation with strict compliance requirements. It was this balance that allowed the ecosystem to expand without harming its reputation," the Vice-Minister said.
Lithuania is the largest financial technology hub in the EU in terms of the number of licences issued. This is a conscious result, reflecting a decade of consistently chosen policies in the areas of regulation, infrastructure and talent.
"It is clearly not an emerging ecosystem, but a functioning financial infrastructure and a pan-European technology hub," J. Kizenevič commented.
The Lithuanian technology sector has accumulated considerable experience in the fields of financial technology, cyber security and e-commerce. In the area of cybersecurity, Lithuania ranked second in Central and Eastern Europe in terms of security risk capital investments in 2024.
The Government is also pursuing a national cybersecurity strategy with a particular focus on public-private cooperation, research and development, which is becoming increasingly relevant as financial services and technology converge.
During his working visit to New York on 25-29 April, J. Kizinevič also meets with representatives of the US financial sector, regulators and executive branch.