Regulatory Alerts2026-05-27
Added · Updated
Latvijas Banka issues two licenses to "Trek Technologies" SIA ("Backpack EU")
Latvijas Banka granted "Trek Technologies" SIA (operating as "Backpack EU") licenses to provide crypto-asset services and to operate as a payment institution. The crypto-asset services license permits custody and administration, exchange against fiat or other crypto-assets, order execution, and conversion services. The payment institution license allows the company to execute payments, including transfers to payment accounts. This marks the fifth license issued by the central bank under the Markets in Crypto-Assets Regulation (MiCA), which entered into force at the end of 2024.