DriveWealth Advances Global Expansion Plans with European Brokerage License from Bank of Lithuania
Lithuania will become DriveWealth’s base of operations for its European brokerage partners with plans to expand the team based in Lithuania
DriveWealth, a leading financial technology platform providing Brokerage-as-a-Service, today announced that the Bank of Lithuania, the central bank of the Republic of Lithuania, granted it a brokerage license in Europe. This license accelerates DriveWealth’s international expansion and marks its third region with regulatory status, including the United States, Singapore, and now the European Economic Area.
DriveWealth powers modern investing experiences, including 24-hour trading and fractional share ownership, for a community of global B2B partners. Securing this license supports DriveWealth’s ability to expand its platform to offer European securities as well as provide a “follow-the-sun” 24/7 service model continuously across time zones. The new entity in Lithuania, named DriveWealth Europe, will be an integral component of DriveWealth’s international operations and European expansion.
“Achieving this license from the Bank of Lithuania marks a pivotal milestone in our global expansion strategy,” shared Michael Blaugrund, CEO, at DriveWealth. “Lithuania’s commitment to innovation, combined with its well-established regulatory environment and access to fintech-related talent, made it the best fit for setting up our European hub. We look forward to working with the Bank of Lithuania and leveraging the support of their financial ecosystem to offer DriveWealth’s platform to a broader clientele.”
DriveWealth has experienced sustained growth globally, including through strong partnerships with innovators in Europe, the United Kingdom, Asia, and Oceania. With this latest license, DriveWealth aims to expand its offerings by introducing additional market-specific products in the future.
In order to grow its presence in Lithuania and the broader European market, DriveWealth will work closely with Invest Lithuania, the country's agency that promotes foreign investment and supports businesses in Lithuania. Invest Lithuania works collaboratively with the Bank of Lithuania to foster economic growth and stability.
"DriveWealth's decision to establish their European hub in Vilnius further strengthens Lithuania's position as a leading fintech destination in Europe," states Elijus Čivilis, General Manager at Invest Lithuania. "This move not only validates our efforts to create a nurturing environment for financial innovation but also highlights the caliber of our talent pool and regulatory framework."
Founded in 2012, DriveWealth’s technology platform allows established companies and emerging digital-native firms to provide securities trading to their clients efficiently and in a compliant fashion. The license will enable DriveWealth to support a further range of clients and opens up more opportunities within its European audience.
About DriveWealth:
DriveWealth is a global B2B financial technology platform. Our core business is providing Brokerage-as-a-Service, powering the investing and trading experiences for digital wallets, broker-dealers, asset managers and consumer brands. DriveWealth’s APIs provide our partners with a modern, extensible and flexible toolkit to develop everything from traditional investment workflows to more innovative techniques like rounding up purchases into fractional share ownership. For more information, visit www.drivewealth.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031386518/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla and Long Tale Games Launch Charity Campaign With Life Is Feudal to Support Games for Change31.10.2024 14:00:00 CET | Press release
50% Of Proceeds From Subscriptions To Benefit Games For Change Xsolla, a global video game commerce company, has partnered with Long Tale Games to launch a charity campaign. 50% of the proceeds from the 3-month subscription package to Life is Feudal will be donatedto Games For Change. This initiative, running until December 31st, reflects Xsolla’s commitment to leveraging the power of gaming to drive positive change. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241031878088/en/ (Graphic: Xsolla) The campaign offers players an exciting adventure in Life is Feudal: MMO and allows them to make a tangible impact. With half of each 3-month subscription supporting educational programs, civic engagement initiatives, and social impact projects, the campaign demonstrates how gaming can foster a better future through the power of play. Players are empowered to engage with a meaningful cause, proving that games are more than just ent
Medidata Launches Bundled Solutions to Support Oncology and Vaccine Trials, Accelerating Study Design and Execution31.10.2024 13:00:00 CET | Press release
New offerings combine a variety of Medidata technologies and learnings from thousands of previous trials to streamline study management for Phase II and Phase III studies in specified therapeutic areas, reinforcing FDA guidance for patient-centered study design and execution Medidata, a Dassault Systèmes brand and leading provider of clinical trial solutions to the life sciences industry, has introduced two new bundled offerings to meet the growing demands of oncology and vaccine research. Medidata Oncology Solutions and Medidata Vaccine Solutions reinforce the FDA guidance for patient-centered endpoints, adaptive trial designs, and trial diversity. By unifying key trial components such as real-time patient-reported outcomes and imaging management, these bundled solutions will aid sponsors by reducing trial complexity, accelerating decision-making, and improving assessments of treatment efficacy and safety. "Oncology and vaccine trials face significant challenges in recruiting diverse
Hassana Investment Company and EIG Sign MoU for Strategic Collaboration on Middle East Infrastructure and Energy Transition Projects31.10.2024 13:00:00 CET | Press release
Collaboration advances shared objectives for investment in the Kingdom of Saudi Arabia and the rest of the region with EIG’s targeted US$1 billion dedicated regional fund Hassana Investment Company (Hassana) and EIG, a leading institutional investor to the global energy and infrastructure sectors, have signed a memorandum of understanding (MoU) to collaborate on infrastructure and energy transition projects in the Middle East through EIG’s targeted US$1 billion dedicated regional fund in which Hassana is considering becoming an anchor investor with an allocation of up to US$250 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241029142798/en/ (Photo: Business Wire) The MoU underscores EIG’s and Hassana’s shared commitment to expand their local and regional infrastructure and energy transition investment portfolios. By fostering participation from international investors and boosting foreign direct investment, this par
Kinaxis Announces Normal Course Issuer Bid31.10.2024 12:00:00 CET | Press release
Kinaxis® Inc. (“Kinaxis” or the “Company”) (TSX: KXS) is pleased to announce that the Toronto Stock Exchange (the “Exchange” or “TSX”) has accepted a notice (the “Notice”) filed by the Company of its intention to make a normal course issuer bid (the “NCIB”). In connection with the NCIB, the Company has entered into an automatic share purchase plan (an “ASPP”) with its designated broker to allow for purchases of its common shares (the “Shares”). The Notice provides that the Company may, during the 12-month period commencing November 6, 2024 and ending November 5, 2025, or on such earlier date as Kinaxis completes its purchases or provides notice of termination, purchase up to 1,404,639 Shares in total, representing approximately 5% of the issued and outstanding Shares as at October 23, 2024. As of the close of business on October 23, 2024, the Company had 28,092,786 Shares issued and outstanding. Except for block purchases permitted under the rules of the TSX, the number of Shares to be
Compass Pathways Announces Third Quarter 2024 Financial Results and Business Updates31.10.2024 11:30:00 CET | Press release
Top-line COMP005 data for COMP360 phase 3 pivotal program in treatment-resistant depression now expected in second quarter 2025COMP006 data will now be announced after 26-week time point, expected in the second half of 2026Strategic reorganization to focus all efforts on COMP360 program resulting in reduction of workforce of approximately 30%Cash position of $207 millionConference call October 31 at 8:00 am ET (12:00 pm UK) Compass Pathways plc (Nasdaq: CMPS) (“Compass”), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today reported its financial results for the third quarter 2024 and an update on recent business progress. “Ensuring the success of our lead COMP360 program is our absolute priority. We remain confident that COMP360 can be an effective therapy for patients with serious mental illness and our focus on delivering new treatment options for patients living with treatment-resistant depression remains paramount,” said Kab
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom