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That means that euro transfers moving through the account are now instant, due to Bank of Lithuania's participation in the Single Euro Payments Area's (SEPA) instant payment system, Transferwise said. The company also opened an account in the Bank of England in April, joining the bank's interbank payment systems.  

The Bank of England opened its payments systems to non-bank finance institutions in 2017 and Bank of Lithuania is the first euro area central bank to do the same, Transferwise said.

The new SEPA instant payments render euro transfer notably faster. Earlier euro transfers roughly took 24 hours to complete. With the new solution, the funds arrive within seconds and are operational 24/7 throughout the year, including on bank holidays, the company said. 

The international money transfer startup Transferwise was founded in 2011 by Estonians Taavet Hinrikus and Kristo Kaarmann. The platform has since raised 397 million US dollars in investments and its investors include IVP, Old Mutual, Andresseen Horowitz, Valar Ventures, PayPal co-founder Max Levchin, and Richard Branson.