Comparison
Both EU EMI licences with €350k initial capital, both passport across the EU. Lithuania has the bigger ecosystem and lighter regulator; Estonia has the higher tech-credibility but tighter banking access for the EMI itself.
Option A
Option B
Fintechs and high-risk facilitators choosing where to license an EMI to serve the EU. Bank of Lithuania has the bigger book of authorised PIs (~150) than Estonia (~50) but Estonia regulator is more welcoming to crypto-adjacent activity.
Lithuania for general-purpose EMI with broad banking-correspondent access. Estonia for crypto-adjacent activity where the regulator is comfortable with the model.
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