Noah LV SIA Secures Dual Crypto and Payment Institution Licenses from Latvijas Banka

On 30 September, the Supervision Committee of Latvijas Banka granted Noah LV SIA both a crypto-asset service provider license and a payment institution license. This dual authorization allows the firm to operate within the MiCA framework, providing a regulated bridge between digital assets and traditional payment services across the European Union.

What was announced

The Supervision Committee of Latvijas Banka has officially granted Noah LV SIA two distinct authorizations: a license for the provision of crypto-asset services and a license to operate as a payment institution. This decision enables the firm to engage in a broad spectrum of digital and traditional financial activities. Specifically, the crypto-asset license permits Noah LV SIA to provide the following services:

• Providing custody and administration of crypto-assets on behalf of clients.
• Exchanging crypto-assets for funds.
• Executing orders for crypto-assets on behalf of clients.
• Providing transfer services for crypto-assets on behalf of clients.

These activities are governed by the Markets in Crypto-Assets Regulation (MiCA), a landmark piece of European Union legislation designed to harmonize digital asset rules across the bloc. In tandem with its crypto capabilities, the payment institution license authorizes Noah LV SIA to execute payment transactions, handle credit transfers, and manage standing orders. This dual-track regulatory approval is part of a wider trend in Latvia, where 12 companies have now secured MiCA-compliant licenses and 13 have obtained payment institution status.

The central bank has emphasized that firms authorized under MiCA in Latvia can utilize a cross-border notification mechanism to offer their services throughout the European Union. To facilitate this, the regulator provides extensive resources, including licensing guides that detail the necessary documents to be drawn up, application review deadlines, and specific submission requirements. Furthermore, the bank encourages pre-licensing consultations where experts conduct initial assessments of a company's compliance with regulatory requirements to ensure a smooth application process.

"Upon obtaining authorisation in one European Union (EU) country in accordance with the requirements established in MiCA, a crypto-asset service provider may provide services throughout the EU under the cross-border notification mechanism."

Latvijas Banka

The companies involved

Noah LV SIA is a Latvian-incorporated fintech firm that has now entered the regulated financial services space under the oversight of Latvijas Banka. While the company is a relatively new entrant to the public record of licensed entities, its successful application for dual licensing places it within a specialized group of Baltic firms navigating the intersection of blockchain technology and traditional finance. The company operates in a jurisdiction that has become increasingly attractive to fintech innovators due to the central bank's structured approach to licensing and its support for innovation through dedicated hubs.

Latvijas Banka, the central bank of Latvia, acts as the primary supervisor for the nation's financial sector and is responsible for maintaining the stability of the local market. It has been a vocal proponent of the MiCA framework, seeking to establish Latvia as a compliant and competitive hub for crypto-asset service providers within the European Economic Area. The bank’s Supervision Committee is responsible for vetting the operational integrity, capital adequacy, and anti-money laundering protocols of applicants like Noah LV SIA. By maintaining a public registry of 12 MiCA-licensed firms and 13 payment institutions, the regulator provides a transparent landscape for both domestic and international players looking to leverage the EU's passporting rights for financial services. This regulatory environment is designed to bridge the gap between emerging digital assets and established payment systems, ensuring that all participants adhere to rigorous European standards.

What this means

This announcement highlights the accelerating maturity of the European crypto market under MiCA. By securing both crypto and payment licenses, Noah LV SIA avoids the friction often found when digital asset firms rely on third-party banking partners for fiat on-ramps. This vertical integration puts pressure on single-service providers who may struggle to offer the same level of seamless interoperability. However, the real test for the sector remains the "passporting" process. While MiCA promises easy cross-border expansion, the operational reality of navigating different national competent authorities within the EU will determine if firms can truly scale at pace. The industry is now moving toward a model where regulatory compliance is not just a hurdle, but a core product feature for attracting institutional-grade clients.