Banks, Cryptocurrencies, Financial Services, Lithuania
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 12:31
Lithuania's cryptocurrency market was worth EUR 660 mln in 2017 – FCIS
SEB, Swedbank, Luminor, Danske Bank and Citadele banks as well as companies Pervesk and Mister Tango serviced clients which carried out operations with cryptocurrencies over that period, according to figures provided to journalists by FCIS on Thursday.
93% of the clients were natural persons, and 7% were legal persons. But their shares were almost equal and stood at 47% (312.8 mln euros) and 53% (347.9 mln euros) respectively. The figures include only the clients whose total value exceeded 80,000 euros.
Lithuania accounted for 66% of clients carrying out cryptocurrency operations, followed by Europe (29%) and Asia (13%). In terms of the general operation turnover, Lithuania accounted for 71%, followed by Europe (20%) and Asia (7.8%).
The majority of these clients in Lithuania chose Mister Tango, with their number standing at 446. And the total value of operations stood at 380.4 mln euros. Pervesk had 31 clients (254.8 mln euros). Banks had fewer than 30 clients, and the value of operations ranged from 13.5 mln euros at SEB to 57,300 euros at Danske Bank.
Lithuanian-registered company Spectro Finance posted the largest cryptocurrency turnover in Lithuania (215.1 mln euros), followed by CoinFlux Service (31.1 mln euros), Gatecoin Limited (23 mln euros) and Itbit Pte (16.4 mln euros).
A single natural person's largest turnover of cryptocurrency operations stood at 27.2 mln euros.