The new license brings Latvia’s count of licensed payment institutions to nine, as the central bank issues its 12th license to a financial market participant this year
Latvia’s central bank, Latvijas Banka, has issued a payment institution license to SIA Fibonatix (LV), authorising the company to provide payment acceptance services to merchants.
The license brings Latvia’s total to nine licensed payment institutions, alongside eleven licensed electronic money institutions and one registered electronic money institution. Fibonatix is the 12th financial market participant to receive a license from Latvijas Banka this year.
Latvijas Banka encourages prospective applicants to use its published licensing guides and pre-licensing consultations, through which the central bank’s experts assess a company’s regulatory compliance ahead of a formal application. The bank says this structured process has supported a steady flow of new entrants into Latvia’s financial market.