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Railtown Capital Corp. to Combine with Selten Metal Corp. Operator of the “THOR” Rare Earth Exploration Project Located in Clark County, Nevada

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Vancouver, British Columbia–(Newsfile Corp. – March 28, 2022) – Railtown Capital Corp. (TSXV: RLT.P) (“Railtown” or the “Company“) and Selten Metal Corp. (“Selten Metal“), an arm’s length private company incorporated under the laws of British Columbia, announced today that they have signed a non-binding letter of intent dated March 17, 2022 to effect a transaction that will result in a reverse takeover of Railtown by Selten Metal (the “Transaction“). Trading in the common shares of the Company (the “Common Shares“) has been halted in accordance with the policies of the TSX Venture Exchange (the “TSXV“) and will remain halted until such time as all required documentation has been filed with and accepted by the TSXV.

The Transaction is not a Non-Arm’s Length Qualifying Transaction under TSXV Policy 5.4. Accordingly, Railtown will not be required to obtain shareholder approval of the Transaction.

About Selten Metal Corp.

Selten Metal was incorporated in May of 2021 and, pursuant to an option agreement (the “Option Agreement“) with NexOptic Technology Corp. (“NexOptic“) dated December 15, 2021, as amended on February 17, 2022 and March 17, 2022, holds an option to acquire up to a 100% interested in the THOR heavy and light rare earth project (“THOR” or the “THOR Project“), consisting of roughly 2,170 hectares located in Clark County, Nevada.

German for “rare,” the word “Selten” represents Selten Metal Corp’s desire to become a leading producer of heavy and light rare earth elements in the United States-as US sourced rare earths are becoming increasingly critical to the climate economy, modern technologies and for global geopolitical stability.

The THOR Heavy & Light Rare Earth Project

The THOR Project is situated 120km from Las Vegas in an active mining region in Southern Nevada, 26 kilometres from what was once the largest rare-earth element (“REE“) mine in the world, Mountain Pass. In 2017, Mountain Pass reopened as the largest REE mine in the Western Hemisphere, and the only REE mine in North America (operated by MP Materials Corp). Reference to mineralization on any properties beyond THOR isn’t necessarily indicative of mineralization on the THOR Project. Selten Metal is focused on sustainable exploration and development for the THOR Project.

Selten is in the process of having a current technical report on the THOR Project commissioned and further and more fulsome disclosure will be provided in subsequent news releases. The technical report will be filed on the Resulting Issuer’s (as defined below) SEDAR profile on completion of the Transaction.

Pursuant to the Option Agreement, in order for Selten to acquire an initial 75% interest in and to the THOR Project, Selten must: (a) make a cash payment of $1,100,000 to NexOptic by May 15, 2022 (the “Option Cash Payment“), (b) issue to NexOptic such number of common shares in its capital as will represent 9.5% of the issued and outstanding Selten shares post-issuance (on a pre-Transaction basis), (c) issue to NexOptic an additional 500,000 shares on the date which is 12 months following the date on which Selten is listed on a Canadian securities exchange (the “Listing Date“) and (d) issue to NexOptic a further additional 500,000 shares on the date which is 24 months following the Listing Date. If a Listing Date does not occur within 24 months of the date of the Option Agreement, the option contemplated thereunder will terminate. The Option Agreement provides that, upon the exercise of the initial option, Selten Metal will have the right (the “Second Option“) to acquire the remaining 25% interest in the THOR project, by issuing to NexOptic an additional 5,000,000 common shares, which issuance shall occur upon the date which is either 36 months following the Listing Date or 48 months following the Listing Date, at the discretion of Selten. For greater certainty, any and all share issuance obligations of Selten Metal under the Option Agreement will be satisfied through the issuance of an equal number of common shares of the Resulting Issuer, in the event the Transaction is consummated.

Resulting Issuer Board of Directors and Management

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Upon completion of the Transaction, the board of directors and senior management of the Resulting Issuer is expected to be drawn largely from the current Selten Metal team and will be comprised of individuals with extensive experience in the development, financing and growth of public resource companies.

The following sets out the backgrounds of the persons who are currently expected to be directors and officers of the Resulting Issuer following completion of the Transaction.

Jenny-Claire M. Ganasi, CEO and Director, is a Chartered Professional Accountant with more than 15 years experience working with public companies. Prior to joining Selten Metal, Jenny-Claire spent six years on secondment in Norway supporting Teekay Offshore Partners (L.P. (now Altera Infrastructure L.P. owned by Brookfield Business Partners) (NYSE: ALIN) with corporate, management reporting and finance, planning and analysis for the executive leadership team and board of directors. Prior to this, Jenny-Claire spent four years with Teekay LNG Partners (NYSE: TGP) in Vancouver in corporate reporting and four years with PricewaterhouseCoopers LLP in Vancouver in both audit and assurance and tax groups. Jenny-Claire holds a bachelor of Technology in Accounting and a diploma in Financial Management, Advanced Taxation from British Columbia Institute of Technology, and a certificate in Sustainability Management from University of British Columbia.

Paul McKenzie, Director, is the CEO and a director of NexOptic and was the CEO of NexOptic’s predecessor Elissa Resources, the company that made the original rare earth discoveries on the THOR Project. Paul’s experience includes founder, co-founder, CEO, CFO and director roles for several successful public companies in the strategic minerals sector (including discoveries through to feasibility stage, green energy, and battery metals) and the technology sector (including software solutions and artificial intelligence). Paul has assisted in raising approximately USD $120 million in working capital for his affiliated corporations and has managed subsidiaries and projects in Canada, the United States, South Korea, Mongolia, and China. Paul has been directly involved in partnerships, joint ventures, asset sales, license agreements and mergers and acquisitions between his companies and numerous corporations ranging from start-ups to multinationals with market capitalization exceeding USD $600 billion.

Jim Guilinger, Director and Lead THOR Consultant, is a geologist with extensive REE expertise spanning more than 40 years. This includes project management and being a technical lead on rare earths projects throughout the USA including Wyoming, Nevada, and Arizona. Jim has completed numerous industrial and strategic minerals market studies, analysis, and investigations for clients and companies around the world. Jim is the Chief Operating Officer at Bradda Head Lithium and has been a private consultant for more than 20 years through World Industrial Minerals (“WIM“). Prior to forming WIM, Jim was a director of Exploration and Development in Mexico for Eldorado Gold and managed numerous industrial minerals, precious and base metal projects. Jim is a “qualified person” as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Jessie Friend, Director, has overseen brand and business direction from start-ups to divisions of multinationals including Panavision and has assembled sales and marketing teams that continue to work globally. Jessie is also a fleet advisor for Boom & Bucket, a modern marketplace for everything heavy equipment for the mining industry, renewable energy companies, pipelines and more. Jessie brings to Selten Metal exceptional negotiating, business management, budgeting, financial reporting, and team building skills.

Jason Felsman, THOR Project Manager, is a geologist with over a decade of experience working as a consulting geologist and project manager to companies such as Agnico Eagle (NYSE: AEM), Newmont (NYSE: NEM) and others. His extensive REE experience includes senior geologist with Rare Element Resources (OTCQB: REEMF). Jason is an expert in project management including drill program planning and management and has extensive skills and experience in mineral property evaluation, project mapping and sampling. Jason is highly proficient in GIS: ArcGIS & QGIS and experienced in Petrographic and Micro-Analytical Techniques (SEM, LA-ICPMS, CL). Jason completed his geological studies at University of Arkansas: B.S., and University of Idaho: M.S.

James Clark, Senior Project Consultant, has more than 30 years of experience as an exploration geologist for a variety of commodities, including REE’s, industrial minerals, precious, base, and other specialty metals. James has extensive REE experience that includes working on 33 REE prospects across three continents. In 1998, James founded Applied Petrographics to provide petrographic and microanalytical services to the mining industry and clients include Barrick Gold (NYSE: GOLD), Newmont (NYSE: NEM), Hecla (NYSE: HL), AngloGold (NYSE: AU), CVRD, Quest Rare Minerals, and Rare Element Resources. Prior to this, James worked for a variety of mining companies, including Molycorp, Hecla, Newmont, and Rare Element Resources. During his time at Hecla he played a key role in identifying Rare Element Resources’ current Bear Lodge rare earth resource and the property’s underlying gold mineralization potential. While at Rare Element Resources, James served as VP of Exploration.

In addition, it is also anticipated that one of the current directors of Railtown will be appointed to the Resulting Issuer’s board of directors and a CFO and a corporate secretary will be appointed for the Resulting Issuer. Once determined, the identify of these individuals will be disclosed in a subsequent news release.

The Transaction

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It is intended that the Transaction will constitute the “Qualifying Transaction” of Railtown, as such term is defined in the policies of the TSXV. Upon completion of the Transaction, the shareholders of Selten Metal will become shareholders of Railtown, a publicly traded company listed on the TSXV. The resulting company after completion of the Transaction (the “Resulting Issuer“) will carry on the current business of Selten Metal and intends to be listed on the TSXV as a Tier 2 resource issuer.

The Transaction is proposed to be effected by way of a “three-cornered” amalgamation under which securityholders of Selten Metal will exchange their shares of Selten Metal for Common Shares. Shareholders of Selten Metal will be issued one Common Share at a deemed price of $0.20 per share for each common share held of Selten. In addition, upon completion of the Transaction, the Resulting Issuer will assume Selten Metal’s obligation to issue common shares to NexOptic pursuant to the terms of the Option Agreement.

On completion of the Transaction, Selten Metal will be a wholly-owned subsidiary of the Resulting Issuer. On closing (the “Closing“) of the Transaction, the Resulting Issuer’s name will be changed to “Selten Metal Corp.” or another name acceptable to Selten Metal.

Closing of the Transaction is subject to certain conditions, including but not limited to: (a) the completion of satisfactory mutual due diligence; (b) the receipt of all necessary approvals of the boards of directors of Railtown and Selten Metal; (c) the receipt of all required consents and approvals, including without limitation, approval of the Transaction by the TSXV as Railtown’s Qualifying Transaction; (d) the Resulting Issuer satisfying the initial listing requirements set by the TSXV for a Tier 2 mining issuer; (e) the entry into of a definitive agreement; (f) approval of the shareholders of Selten Metal; and (g) the completion of the Financing (defined below).

The Company also intends to issue 475,000 Common Shares to Canaccord Genuity Corp. at a deemed price of $0.20 per share in connection with the Transaction. The payment of the finder’s fee is subject to TSXV acceptance. Further details regarding the Transaction and any finder’s fees payable will be included in a subsequent news release once additional details become available.

Sponsorship

Railtown will be seeking an exemption from the sponsorship requirements of the TSXV pursuant to the provisions of section 3.4(a)(ii) of TSXV Policy 2.2.

Proposed Financing

In connection with the Transaction, Selten Metal intends to complete a private placement (the “Financing”) of 15,000,000 common shares at a price of $0.15 per share, for aggregate gross proceeds of $2,250,000. Finder’s fees may be paid to qualified finders in accordance with the Financing.

It is anticipated that $1,100,000 of the net proceeds from the Financing will be used towards the Option Cash Payment.

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Further details regarding the Financing will be included in a subsequent news release once additional details become available.

Pro Forma Share Capital of the Resulting Issuer

Assuming the sale of all 15,000,000 shares pursuant to the Financing, it is anticipated that, on Closing of the Transaction, there will be 50,911,602 common shares of the Resulting Issuer issued and outstanding (52,711,602 common shares on a fully diluted basis), assuming the exercise of all outstanding options and warrants. It is expected that following the completion of the Transaction and the Financing, but assuming no exercise of the Second Option, existing Railtown shareholders will hold approximately 25.5% of the common shares of the Resulting Issuer, former shareholders of Selten Metal will hold approximately 35.5% of the common shares of the Resulting Issuer and NexOptic will hold approximately 9.5% of the common shares of the Resulting Issuer.

It is anticipated that a portion of the issued and outstanding Common Shares of the Resulting Issuer will be subject to the escrow and resale restrictions pursuant to the policies of the TSXV.

Selected Financial Information

The following table sets out selected financial information with respect to Selten as at and for the period noted. This information information has not been audited, and may be subject to adjustment:

As at December 31, 2021 and
for the period from incorporation
on May 26, 2021 to December 31, 2021
(unaudited)
Total Revenues Nil
Net Income (Loss) $(117,842)
Total Assets $130,305
Total Liabilities $28,147

 

Further financial information will be included in the listing application to be prepared in connection with the Transaction.

About Railtown

Railtown is publicly listed on the TSXV under the symbol RLT.P. Railtown was formed as a Capital Pool Company in accordance with policies of the TSXV in order to identify and evaluate businesses and assets for acquisition and financing.

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The address of the Company’s registered and records office is 2200 – 885 West Georgia St., Vancouver, BC, V6E 3E8.

For further information, please contact:

Railtown Capital Corp.:
Cameron White, Chief Executive Officer
Phone: 604-765-2601
Email: [email protected]

Selten Metal Corp.:
Jenny-Claire Ganasi, Chief Executive Officer
Email: [email protected]
www.seltenmetal.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms and conditions of the proposed Transaction; the Company’s objectives, goals or future plans; Selten Metal’s objectives, goals or future plans; statements regarding issuing subsequent news releases; completion of the Financing; payment of the Option Cash Payment; statements regarding the Second Option; the composition of the board of directors and management of the Resulting Issuer; statements regarding obtaining a waiver to the sponsorship requirements of the TSXV; further financial information being included in the listing application to be prepared in connection with the Transaction; the receipt of the requisite approvals with respect to the Transaction and the business and operations of the Resulting Issuer following the completion of the Transaction. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in Railtown’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although Railtown believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Railtown and Selten Metal disclaim any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Reader Advisory

Completion of the Transaction is subject to a number of conditions, including but not limited to TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility of the adequacy or accuracy of this release.

Not for distribution to U.S. news wire services or dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118485

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Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform

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xMoney Global, the global, inter-bank and cross crypto/fiat integrated payments platform has appointed award-winning economist Dr. Greg Siourounis as Co-Founder and CEO. The company is a Mastercard principal member, with strategic European licenses, such as e-Money and VASP.

As the digital landscape continues to evolve with the coming MiCA regulation, xMoney Global intends to lead Europe into this new transformative EU regulated stablecoin era. Greg Siourounis will lead the integration of xMoney’s advanced blockchain-enabled payments infrastructure with its upcoming stablecoin program. Stablecoins are a key driver of blockchain adoption in today’s market, now surpassing Bitcoin, remittances, and PayPal in annual transaction volume. As such, xMoney’s Global reputation positions it to bridge Web3 innovation with traditional finance, leading Europe into a new transformative EU regulated stablecoin era.

Dr. Greg, who has played a pioneering role in the growth of Sui Foundation as its former Managing Director and who previously founded Everypay, will drive xMoney Global’s next wave of growth. Beyond the standard reference of his academic work in 2024’s Nobel Prize in Economics, Dr. Greg’s career is also decorated with awards such as the 2005 Young Economist Award from The European Economic Association and the 2008 Austin Robinson Prize from The Royal Economic Society. His immediate target will be to focus on partnerships, regulatory alignment and market expansion, as xMoney Global looks to build a comprehensive payments platform that bridges legacy financial systems with the potential of decentralized finance.

Commenting on his appointment, Dr. Greg Siourounis, CEO of xMoney Global, said, “As Europe prepares to embrace MiCA regulation, xMoney Global is positioned to redefine what compliant, secure, and seamless digital payments can be. Our goal is to deliver a solid and trusted ecosystem that combines the strengths of traditional finance with the flexibility of blockchain technology to create a future-ready payment experience.”

Beniamin Mincu, Co-founder of MultiversX, said, “xMoney Global’s mission aligns perfectly with the vision of MultiversX to bring scalable and secure blockchain solutions to mainstream finance. This appointment marks a significant step toward building a more inclusive and resilient financial system.”

The launch of xMoney Global aims to offer a next-gen blockchain-as-a-service module backed by its native stablecoin, with key white-labeled services including acquiring, issuing, onramps/offramps and a sticky loyalty program, all backed by MultiversX’s state-of-the-art sharding technology. Following the surge in crypto markets after Trump’s pro-crypto Presidential win, xMoney will be ideally placed to accelerate real-world adoption as the easiest way for everyone (consumers, retail and e-commerce) to seamlessly access fiat and crypto currencies in an app, card or payment gateway.

The post Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform appeared first on News, Events, Advertising Options.

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Fintech Pulse: A Daily Dive into Industry Innovations and Developments

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The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.


Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.


Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.


India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

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India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.


Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.


Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.


Key Takeaways for the Fintech Ecosystem

  1. Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
  2. Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
  3. Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
  4. The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
  5. Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

 

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Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub

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The Fintech Latvia Association has launched the latest edition of its annual publication, Fintech Pulse 2024, unveiling insights and resources that position Latvia as a thriving hub for European fintech.

Announced at this year’s Fintech Forum, the magazine is now available in digital format, offering a comprehensive guide for fintech professionals and entrepreneurs navigating the Latvian market and exploring its advantages.

This issue covers essential topics, from support tools provided by Latvijas Banka and newcomer roadmaps to Riga’s investor resources and fintech education opportunities. Readers will find the latest fintech news from Latvia, coverage of this year’s key industry events, and member insights on the future of fintech. The Fintech Landscape section provides a comprehensive overview of the Latvian fintech ecosystem.

Tina Lūse, Managing Director of Fintech Latvia Association, expressed excitement about the ecosystem’s growth: “We are excited to unveil the third annual edition of Fintech Pulse. This year has been pivotal for our ecosystem, and together with public sector stakeholders, we are enhancing financial inclusion, democratizing investments, and driving innovation throughout the sector. This is a testament to Latvia’s emergence as a fintech hub, establishing itself as an equal partner in innovation and support within the Baltic region.”

Minister of Finance Arvils Ašeradens highlighted Latvia’s fintech potential in the magazine, stating: “Latvia has already made strides in adapting its regulatory framework to support a stable financial system. Now, we encourage financial market players to invest in modern technologies to meet the growing demand for inclusive financial services and solidify Latvia’s position in the fintech landscape. We are confident that with the combined offer of the government, Latvijas Banka and Riga city, we are a great place to start your next scalable European FinTech!”

Minister of Economics Viktors Valainis expressed Latvia’s ambition in the magazine, stating: “Latvia wants to become a WEB 3.0. innovation hub and solidify itself as one of the leaders of a newly regulated EU crypto-asset market. We welcome international companies to choose Latvia, a flexible and fast-paced country, where you can obtain a MICA license in just 3 months. Open your office in Latvia, receive a MICA license and serve the whole EU market!”

The Fintech Latvia Association brings together fintech and non-banking financial service providers to represent their interests at both the national and international levels. It promotes sustainable development in Latvia’s financial sector by fostering reliable, responsible, and long-term industry practices that earn trust from consumers and regulatory authorities. The association is committed to supporting innovation and growth opportunities within the fintech landscape.

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