HONG KONG, May 27, 2024 /PRNewswire/ -- Lianlian DigiTech Co., Ltd. ("Lianlian DigiTech" or the "Company", HKEX: 2598), a leader in China digital payment solutions and global commerce digitalization, today announced that the Company has been granted the Electronic Money Institution License ("EMI License") by the Commission de Surveillance du Secteur Financier of Luxembourg. Acquiring a Luxembourg EMI License marks another significant milestone in Lianlian DigiTech's global growth story.
The EMI License enables Lianlian DigiTech to broaden its services throughout Europe, augmenting its existing capabilities in fund collection and VAT processing for e-commerce merchants. The Company is now poised to provide fund storage and withdrawal services, facilitating the Company's clientele to further expand in Europe. Furthermore, this development fosters partnerships with other industry leaders in the provision of comprehensive cross-border financial services, including e-wallets and currency exchange solutions.
"The attainment of the Luxembourg EMI License is a testament to our unwavering commitment to establishing a robust European market presence and propelling our global strategy forward. We take immense pride in being recognized by the local regulatory bodies for our stringent adherence to high compliance standards and our expansive capabilities. This licensure heralds the commencement of an exciting new chapter as we fortify our partnerships in Europe and enhance our capability in offering high-quality localized one-stop service for cross-border commerce." commented Mr. Jay Xin, CEO of Lianlian DigiTech.
Adhering to a "compliance-first, license-first" ethos, Lianlian DigiTech has consistently prioritized globalization as a fundamental aspect of its growth trajectory. In its pursuit of global expansion, the Company invested significantly in localization efforts, including the establishment of local offices, the formation of dedicated local teams, the procurement of local licenses, and the cultivation of partnerships with local institutions. These endeavors lay a robust foundation for Lianlian DigiTech to amplify its global service capabilities and secure an enduring position in the international marketplace.
About Lianlian DigiTech
Lianlian DigiTech Technology Co., Ltd. ("Lianlian DigiTech") was founded in 2009, providing a full suite of digital payment services and value-added services to customers in China and around the world.
As of December 31, 2023, Lianlian DigiTech had built a global license layout consisting of 64 payment licenses and relevant qualifications, serviced covering more than 100 countries and regions, and supporting transactions in over 130 currencies.