IMF meets with DESICO to discuss Lithuania’s flourishing fintech climate

DESICO representatives (far left) with the IMG [image: Rise Vilnius]

Ahead of its security token sale on November 7th, DESICO was given a boost after being invited by the International Monetary Fund to discuss the booming fintech climate in Lithuania — DESICO’s registered country of operation.

The IMF oversees the fixed exchange rate arrangements between countries in order to help national governments manage their exchange rates, allow them to prioritise economic growth, and provide short-term capital to aid the balance of payments.

During a meeting in Vilnius, the Lithuanian capital, DESICO co-founders Laimonas Noreika and Audrius Griškevičius met with IMF representatives along with other fintech startups to discuss the popularity of blockchain in Lithuania, and why the small Baltic country with its population of just 2.8 million has one of the most advanced fintech infrastructures of all 28 European Union member states.

As Lithuania’s Ministry of Finance has previously stated, DESICO’s aim to create a safe and legally regulated environment in order to develop global financial and blockchain technologies is in line with Lithuania’s ambition to become the most progressive fintech center in Europe.

DESICO’s business model was also endorsed by both the Ministry of Economy of the Republic of Lithuania and the country’s business development agency, Enterprise Lithuania.

By 2020, Lithuania hopes to increase the number of startups operating within its borders from 400 to 1,000.