Latvijas Banka Grants Noah LV SIA a Payment Institution License
The company also received authorization for four crypto services under the European Union’s Markets in Crypto-Assets Regulation. Both licenses took effect Sept. 30.
Latvia’s central bank granted Noah LV SIA licenses for four crypto services and payment transactions. Its MiCA authorization allows it to offer the licensed crypto services elsewhere in the European Union after cross-border notification.
Latvijas Banka’s Supervision Committee issued the crypto-asset service license and payment institution license on Sept. 30, and both took effect that day.
The crypto license covers custody and administration of clients’ crypto-assets, exchanges of crypto-assets for funds, execution of client orders and transfers of crypto-assets on clients’ behalf. The payment institution license allows payment transactions, including credit transfers and standing orders.
Latvijas Banka’s Oct. 1 announcement brought to 12 the number of companies it had licensed under the EU’s Markets in Crypto-Assets Regulation (MiCA).
MiCA sets rules for crypto-assets and service providers across the EU. A company authorized in one member country can offer covered crypto services elsewhere in the bloc after completing a cross-border notification process.
Noah LV SIA is a Latvian company.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.