Mintos Secures Investment Firm License from Latvian Financial Regulator

​Mintos, a global online marketplace for investing in loans, announced on Thursday that it has secured investment firm and electronic money institution licenses from the Latvian regulator Financial and Capital Market Commission (FCMC), marking a crucial milestone in its growth journey.

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Starting Thursday, Mintos is supervised by the Latvian FCMC and the fully regulated setup will bring various benefits for investors on Mintos with increased transparency and investor protection being key among them.

Besides, the firm will set out to gradually transition investments in loans into the form of the regulated financial instrument – Notes. Once released, clients will be protected by the MiFID II investor protection framework, Prospectus Regulation, Packaged Retail Investment and Insurance Products (PRIIPs), Investor Protection Law and other regulations which aim to further protect the interests of the investors.

According to the company, the transition period will be no longer than 6 months. Hence, by the end of January 2022 at the latest, Mintos is expected to offer investments in loans in the form of Notes only.

It took Mintos almost two years to obtain the licenses from the Latvian financial watchdog, said Martins Sulte, Mintos CEO and Co-Founder.