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Mintos, a Latvian multi-asset investment platform, has begun the formal process of applying for a banking licence from the European Central Bank, a move that would significantly broaden the scope of services it can offer its nearly 700,000 registered investors.
The Riga-based platform, which started a decade ago as a peer-to-peer lending marketplace, is now regulated and manages more than €800 million in assets. Its product range has expanded in recent years to include fractional bonds, ETF portfolios, real estate, and a cash management product called Smart Cash, with operations now live across all EU markets.
A successful licence application would allow Mintos to offer deposit-based funding and extend lending products directly to customers, capabilities currently outside its regulatory perimeter. The licence would also bring deposit protection of up to €100,000 per customer under EU rules and give Mintos direct control over custody, clearing, and settlement infrastructure.
Martins Sulte, Chief Executive Officer and Co-Founder, Mintos
Martins Sulte, Chief Executive Officer and Co-Founder, Mintos
"Pursuing an ECB banking licence is a strategic decision that builds on the strong regulatory and operational foundation we have already established. It enables us to expand what we can offer our investors, combining the trust and stability of a bank with the innovation of a modern investment platform."
The application process is expected to take between 12 and 18 months, subject to regulatory approvals from the ECB.
The push towards a banking licence comes alongside a capital raise conducted on the Mintos platform itself, in which approximately 6,000 investors committed a combined €2.8 million. The company describes this as an initial step in financing the next phase of its development.
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