Over the last seven years, Nium has steadily grown its presence in Lithuania following the approval of its Electronic Money Institution (EMI) license by the Bank of Lithuania in 2017.
The license has enabled the fintech “to better serve its European and global business customers with entities in the EU.”
Now, the cross-border payments leader “has moved to a new, larger office in Vilnius as it continues to hire more local talent and strengthen its operational risk and compliance teams.”
Nium marked the occasion with “an informal office launch party for employees on 7th August 2024, with Spencer Hanlon, the firm’s newly appointed Chief Operations Officer and Chariman of the Board of Nium’s Lithuania entity, leading the proceedings. Nium’s Co-Founder and Chief Business Officer, Mike Birmingham, was also in attendance.”
Spencer Hanlon, Chief Operating Officer at Nium said:
“Lithuania is a highly attractive market for fintechs on the world stage. A combination of forward-thinking regulators, world-class talent, and collaborative community members make Lithuania a leading fintech hub in the EU, enabling global fintechs like Nium to accelerate opportunity and innovation in the marketplace. This is an exciting step forward, driving greater investment in the local fintech ecosystem and Nium’s operational efficiencies to better serve our customers across Europe and around the world.”
Nium is among the earliest members of Fintech Hub Lithuania, “a local association that seeks to unite and support the interests of fintech companies in the region.”
Karolis Urbonavicius, Lithuania Country Manager at Nium said:
“Nium has been ever present in the Lithuania fintech landscape for some time. Now, we have a team and physical space that reaffirms our commitment to Lithuania’s dynamic fintech community.”
Among its cross-border payment capabilities, Nium enables “faster payments in the region, processing transactions through CENTROlink, the payment system operated by the Bank of Lithuania, providing the gateway to the Single Euro Payments Area (SEPA).”
Including licenses issued by the Bank of Lithuania (BOL), UK Financial Conduct Authority (FCA), and Institute of Financial Services Malta (IFSM), Nium holds “over 40 regulatory authorizations around the world to serve its customers on a global scale.”
In addition to Lithuania, the company has “a number of local offices across Europe in London, Malta, and Amsterdam, and is co-headquartered in Singapore and San Francisco.”
Nium enables banks, financial institutions, and platforms “to collect, convert, and disburse money instantly across borders.”
Today, its global payout network supports low-cost payments “in 100 currencies to more than 220 markets, 100 of which in real-time.”
Its customers serve many industries, “including travel, e-commerce, and payroll, among others.”