The Bank of Lithuania (LB) has recently issued a cryptocurrency service provider license to Micar Assets, marking a significant development in the country's growing crypto landscape. Micar Assets, a company with Lithuanian capital, plans to provide a range of cryptocurrency services to both private and business clients, catering to both retail and professional investors. With this license, the company will have the authority to store and manage clients' cryptocurrencies, facilitate exchanges between crypto and cash, and conduct other related transactions.

Micar Assets is backed by Myriad Capital, a financial brokerage firm that is entering its tenth year of operation and offers clients investment opportunities across more than 90 global markets. This partnership positions Micar Assets to leverage Myriad Capital's experience and reach in the financial sector, potentially enhancing its services and client offerings in the cryptocurrency space.

This license is part of a broader trend in Lithuania, where the central bank has also granted similar licenses to other companies, including Robinhood Europe, Decentralized (Coingate), and Nuvei Liquidity. According to the European Securities and Markets Authority (ESMA), Lithuania ranks second in the Nordic and Baltic regions for the number of such licenses issued, with Finland leading the pack by issuing five licenses, indicating a robust regulatory environment for cryptocurrency services in the region.