09/06/2026
💡 Representatives of the Global Fintech Company Backpack EU Meet with Latvia’s Minister of Economics
On Monday, June 8, representatives of Backpack EU – Aiga Krigere, Can Sun, and Roman Nekrutenko – met with Latvia’s Minister of Economics, Viktors Valainis.
🚀 Backpack is a global financial technology company operating in more than 150 countries and regions. The company’s platform has processed over USD 447 billion in total trading volume, while daily trading volumes regularly exceed USD 1 billion.
At the end of May, the Bank of Latvia granted crypto-asset service provider and payment institution licenses to Trek Technologies SIA, which operates in the European Union under the Backpack EU brand.
The licenses enable the company to provide crypto-asset and payment services across the European Union from Latvia, positioning the country as Backpack’s European hub and gateway to the EU’s single market of more than 450 million consumers.
During the visit, the company’s representatives also met with officials from the Bank of Latvia to discuss supervisory requirements, the responsibilities of a regulated market participant, and future cooperation opportunities following the issuance of the licenses.
💬 “Backpack EU’s decision to establish and expand its operations in Latvia is a strong endorsement of our ability to attract global financial technology companies with ambitious growth plans. It is particularly significant that Latvia has been chosen as the company’s European Union hub, from which it can provide services across the entire single market.
Latvia is strategically developing its financial technology sector by strengthening a competitive regulatory environment, fostering innovation, and implementing the objectives set out in the industry’s development strategy. Our goal is to position Latvia as a base from which high-value financial and digital services can be exported throughout Europe.
Backpack EU’s example demonstrates that Latvia can successfully compete for investment in industries where knowledge, technology, and innovation are the key drivers of growth, while creating new opportunities for economic development and highly skilled employment,” said Ieva Jagere I EMBA, Director of the Investment and Development Agency of Latvia (LIAA).
⚡ Latvia is purposefully developing an environment where innovative financial technology companies can grow, scale, and successfully provide services across the European Union from Latvia.
Latvijas Blokķēdes Attīstības Asociācija | Ekonomikas ministrija
