On 30 September, the Supervision Committee of Latvijas Banka decided to issue to Noah LV SIA a licence for the provision of crypto-asset services and a licence to operate as a payment institution.
A licence for the provision of crypto-asset services authorises Noah LV SIA to provide the following services:
- providing custody and administration of crypto-assets on behalf of clients,
- exchanging crypto-assets for funds,
- executing orders for crypto-assets on behalf of clients,
- providing transfer services for crypto-assets on behalf of clients.
Meanwhile, the payment service authorised under the licence issued to Noah LV SIA to operate as a payment institution is the execution of payment transactions, credit transfers, and standing orders.
Latvijas Banka has already issued a licence to 12 companies in accordance with the requirements established in the Markets in Crypto-Assets Regulation (MiCA). Upon obtaining authorisation in one European Union (EU) country in accordance with the requirements established in MiCA, a crypto-asset service provider may provide services throughout the EU under the cross-border notification mechanism.
At the same time, 13 companies in Latvia have obtained a payment institution licence.
Companies seeking a licence from Latvijas Banka are encouraged to use the licensing guides prepared by Latvijas Banka. These guides provide detailed information on the licensing process and requirements, including the documents to be drawn up and submitted to Latvijas Banka, the application review deadlines, among other details.
Latvijas Banka encourages companies to take advantage of pre-licensing consultations. During these consultations, Latvijas Banka's experts offer guidance to companies on the applicable legal framework and conduct an initial assessment of the company's compliance with regulatory requirements. Collaboration during the pre-licensing stage helps companies prepare high-quality licence applications and ensures that the licensing process proceeds smoothly. Consultation requests can be submitted via Latvijas Banka's website.