Crypto Infrastructure Provider Finoa Establishes Operations Hub in Vilnius

Finoa Group, a leader in the provision of institutional-grade crypto custody and staking, has announced its plan to establish an operational hub in Vilnius via it’s Lithuanian entity Finoa LT, UAB. The Group intends to build a Lithuanian team to cover operations, regulatory, and technology functions, all of which will support the growth of its global infrastructure. 

Founded in 2019 in Berlin, Finoa Group has gone on to become one of the world’s leading crypto infrastructure providers. The company offers institutional-grade custody and staking solutions to investment and asset management firms, family offices, foundations and high net worth individuals. It currently employs over 65 people in offices across Germany, Portugal, and the Cayman Islands.

The Lithuanian office will prospectively serve as a strategic hub for multiple entities across the Finoa Group. The company intends to use this hub to build expertise in operational, compliance, AML, and technological fields over time, with a plan to extend the scope of these functions over the mid-to-long term.  

“Lithuania has emerged as one of the leading fintech and crypto hubs in Europe and pairs an exceptional and deep talent pool with a thriving innovation ecosystem supported by progressive regulation. With the ecosystem already present in Lithuania, we are confident we have made the right choice for our expansion,” says Christopher May, Co-Founder and CEO at Finoa.

Darius Zailskas, Vice Minister of Economy and Innovation, sees Finoa’s decision as proof of how mature and diversified Lithuania’s fintech sector has become:  

“The arrival of such a cutting-edge financial provider as Finoa reflects confidence in Lithuania’s robust fintech ecosystem – we are now an established destination for companies looking to scale and deliver complex solutions in this rapidly evolving field.” 

Elijus Čivilis, General Manager at Invest Lithuania, believes that it is the talent on offer in Lithuania that once again has proven a decisive lure:  

“The country’s value proposition for fintech extends beyond a favourable regulatory environment. We also have the qualified talent needed to support companies continuously expanding services across markets governed by various regulatory requirements and licensing frameworks. I’m confident that Finoa will find all the resources needed here to scale their groundbreaking solutions.”