(MENAFN) The Bank of Lithuania has granted Google company an EU electronic money institution (EMI) license amid the country's efforts to become a regional fintech licensing hub.
On Friday, EMI license has been issued to Google Payment Lithuania UAB, Lithuania-registered company controlled by Alphabet Inc., Google's parent company.
The EMI license permits the company to issue and redeem electronic money and provide payment services.
A member of the Board of the Bank of Lithuania said: "our regulatory environment and the benefits it offers have been acknowledged by both start ups and world-class fintech companies."
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