Latvijas Banka issues license to Neverless SIA for crypto-asset services

21.05.2026.

Supervisory News

The Supervisory Committee of the Bank of Latvia issued a license to Neverless SIA on May 20 for the provision of crypto-asset services.

The company is permitted to provide the following crypto-asset services:

• provision of custody and administration of crypto-assets on behalf of clients;
• exchange of crypto-assets for funds;
• exchange of crypto-assets for other crypto-assets;
• provision of portfolio management of crypto-assets;
• provision of transfer services of crypto-assets on behalf of clients.

Neverless SIA is the fourth company to which the Bank of Latvia has issued a license in accordance with the requirements of the Regulation on Markets in Crypto-Assets (MiCA). MiCA entered into force at the end of 2024, introducing a unified legal framework for the crypto-asset sector in the European Union (EU), including the requirement for crypto-asset service providers to obtain an operating authorization. By obtaining an operating authorization in one EU country, a crypto-asset service provider can provide services throughout the EU in accordance with the cross-border notification mechanism.

Companies wishing to obtain a license from the Bank of Latvia are invited to use the licensing guides prepared by the Bank of Latvia, which contain detailed information about the licensing process and requirements, including what documents need to be prepared and submitted to the Bank of Latvia and what the application review deadlines are, etc.

To ensure a smooth licensing process, the Bank of Latvia invites companies to use pre-licensing consultations. In these consultations, Bank of Latvia experts advise companies on the applicable regulations and initially assess the company's compliance with regulatory requirements. Cooperation in the pre-licensing phase helps companies prepare high-quality applications for obtaining a license, and the license acquisition process is smooth. Consultations can be booked on the Bank of Latvia's website.

The number of licensed FinTech companies in Latvia is gradually increasing – this year the Bank of Latvia has already issued eight licenses to FinTech segment companies.