Latvijas Banka has granted Nodu Digital SIA a licence for crypto-asset services and a licence to operate as a payment institution.
The crypto-asset service licence allows Nodu Digital SIA to exchange crypto-assets for funds and to provide crypto-asset transfer services on behalf of clients. In addition, the payment institution licence permits the company to execute payments, including transfers to payment accounts.
Nodu Digital SIA is the tenth company to receive a licence from Latvijas Banka under the Markets in Crypto-Assets Regulation (MiCA). MiCA entered into force in late 2024, establishing a unified legal framework for crypto-asset service providers across the EU and introducing a mandatory authorisation requirement for firms operating in the sector. Once a provider is authorised in one EU member state, it can offer its services throughout the bloc through a cross-border notification mechanism, without needing to obtain separate licences in each jurisdiction.
The dual licensing of Nodu Digital SIA, covering both crypto-asset services and payment institution activities, reflects a broader pattern among firms seeking to combine crypto and fiat payment functionality under a single regulatory umbrella. This approach allows a company to offer clients both crypto-to-fiat conversion and conventional payment execution without relying on separate licensed partners for each function.
Licensing process and support tools
Latvijas Banka has published licensing guides that outline the documentation required for applications and the review deadlines companies can expect during the process. The central bank has also released an overview of the classification of crypto-assets under MiCA, intended to help companies determine which of their assets fall within the scope of the regulation and which are subject to other legal frameworks.
In addition, in order to support applicants ahead of formal submission, Latvijas Banka offers pre-licensing consultations, during which its experts review the applicable legal requirements with companies and carry out an initial assessment of regulatory compliance. According to Latvijas Banka, this stage helps companies prepare more complete applications and contributes to a smoother licensing process overall. Requests for these consultations can be submitted through the central bank's website.
Context for the EU crypto sector
The steady increase in MiCA-licensed firms passing through Latvijas Banka points to continued interest in Latvia as a licensing jurisdiction for crypto-asset businesses within the EU. As more providers complete authorisation, the cross-border notification mechanism under MiCA is expected to play a growing role in determining how crypto-asset services expand across member states, since a single authorisation can support pan-EU operations. For payments and fintech firms monitoring the sector, the number and pace of licence approvals in individual jurisdictions offer one indicator of how implementation of the MiCA framework is progressing across the EU.
