Mintos, a Latvia-based investment platform, has started the process of obtaining a banking license from the European Central Bank (ECB), as reported by the agency LETA. The company estimates that the process will take approximately 12 to 18 months. By acquiring a banking license, Mintos aims to bolster investor confidence, expand its financial infrastructure, and support sustainable growth across Europe.

Originally functioning as a peer-to-peer lending platform, Mintos has evolved into a regulated and diversified asset investment platform that serves nearly 700,000 registered investors and manages over 800 million euros in assets. In the past two years, the company has broadened its offerings, incorporating fractional bonds, ETF portfolios, real estate investments, and Smart Cash, thus strengthening its presence in all EU markets.

Obtaining a banking license from the ECB represents the next phase of Mintos's development. The license is expected to enhance the platform's credibility and operational capabilities, potentially increasing its market share and facilitating further innovation within the European investment landscape. This strategic move positions Mintos as a more competitive entity in the growing landscape of fintech enterprises in Europe.