Bank of Lithuania approves Lloyds' indirect acquisition of e-money institution Curve Europe

The Bank of Lithuania said on 6 May 2026 that it had approved the indirect acquisition by Lloyds Banking Group of Curve Europe, an electronic money institution licensed in Lithuania.

Curve Europe was granted its electronic money institution licence by the Bank of Lithuania in 2020 and is owned by UK-based Curve OS Limited, the parent of the Curve digital wallet business. The acquisition is indirect because Lloyds agreed in November 2025 to buy Curve, the UK parent, with Curve Europe passing to the group as part of that transaction. Sky News reported at the time that the deal was worth up to £120 million. REGULATOR APPROVES

“This is another excellent example of world-class foreign companies seeking to acquire a fintech institution licensed in Lithuania,” central bank governor Gediminas Šimkus said in a statement. “It shows that Lithuania offers favourable conditions for fintech firms to establish and grow, and that their maturity and results are attracting investor attention and creating new expansion opportunities.”

Earlier this year, the Bank of Lithuania also approved the acquisition of electronic money institution Blue EMI LT by UK financial services firm Checkout Payments Group. In November 2025 the regulator fined Curve Europe €22,500 for failing to submit financial statements on time, after the company acknowledged the violations and addressed them.

DIGITAL WALLET STRATEGY

Curve, established in 2015, operates a digital wallet platform that consolidates cards and alternative payment sources into a single app. When the deal was announced, Lloyds said it planned to integrate Curve's technology and its Curve Pay wallet into its own digital offering for its 28 million customers, and that the transaction would not have a material impact on the group or its guidance for 2025 or 2026. Completion was expected in the first half of 2026, subject to regulatory approval.

“This strategic acquisition of Curve marks another significant step forward in Lloyds Banking Group's digital transformation journey,” Jas Singh, chief executive of consumer relationships at Lloyds Banking Group, said when the agreement was announced.