Crypto-powered Taiwanese XREX joins Lithuania’s vibrant Fintech ecosystem

According to Aušrinė Armonaitė, Lithuanian Minister of the Economy and Innovation, XREX entering the Lithuanian market represents an important step forward in strengthening ties with Taiwan. “I am sure that our innovation-fueled, rapidly developing fintech ecosystem in Lithuania will create a suitable environment for XREX to grow,” said Ms. Armonaitė.

XREX’s activities in Lithuania are set to be the foundation of the company’s European presence. With the EU’s emerging crypto regulation, XREX will continue to invest in ensuring its operations in Lithuania and the larger EU are compliant with the most stringent AML/CFT standards.

“Lithuanian government’s commitment to anti-money laundering and combating the financing of terrorism is in line with XREX’s core values,” Mr. Huang explains. “XREX is constantly looking to collaborate with institutions and pursue licenses in jurisdictions that share our values towards building a reasonably regulated crypto ecosystem, one that drives financial innovation and inclusion while protecting users’ interests.”

XREX will provide exchange services for cryptocurrency against fiat currency, as well as operate virtual currency wallet services in Lithuania. The company will also be looking into Lithuanian licenses to increase its operability in European markets.

“Being the EU’s biggest Fintech hub by the number of licensed companies, Lithuania puts AML compliance at the heart of developing a healthy and vibrant Fintech ecosystem,” said Elijus Čivilis, General Manager at Invest Lithuania, an investment promotion agency under the Ministry of the Economy and Innovation. “We are glad that XREX has identified Lithuania as a strategic base in Europe.  Significant fintech players like XREX are a welcome addition to our robust Fintech landscape,” said Mr. Čivilis.