Lithuania has unveiled a five-point, five-year plan aimed at establishing itself as one of the leading fintech hubs in the EU.
The National Fintech Guidelines were formalized through a memorandum of understanding signed by the Ministry of Finance, the central bank, and various trade associations.
According to the Ministry of Finance, Lithuania leads the EU in the number of issued licenses, with over 260 companies and more than 7,000 employees—marking a 19% increase since 2021.
The five-point plan encompasses commitments to foster sector growth, ensure safety and reliability, and attract innovative fintech solutions to the country. Each objective will have specific key performance indicators (KPIs), including an annual sector turnover growth rate of 30% and a target of 35 million customers for Lithuania-licensed companies by 2028.
“Currently, more than 25 million Europeans are utilizing the financial services provided by companies licensed in Lithuania,” stated Simonas Krėpšta, a board member at the Bank of Lithuania. “This recognition comes with significant responsibility. Recent global market events have underscored the need to balance financial innovation with risk management.”