Lightyear Europe AS obtained the Expanded Authorization by the EFSA

Lightyear Europe AS obtained the Expanded Authorization by the EFSA

March 11, 2024ยทLEIpapa
Lightyear Europe AS obtained the Expanded Authorization by the EFSA

On March 4th, the Estonian Financial Supervision Authority awarded Lightyear Europe AS with an additional investment firm license. This expanded authorization enables Lightyear Europe AS to offer a wider range of investment services and ancillary services beyond its initial scope.

Originally, Lightyear Europe AS was authorized to receive and transmit securities orders, as well as execute securities-related orders on behalf of clients or using clients’ funds. The new license further empowers Lightyear Europe AS to provide investment advice and conduct securities trading for its own account.

In terms of ancillary services, the company was already permitted to custody and manage clients’ securities and offer foreign exchange services related to the provision of these securities services. The recent authorization extends Lightyear Europe AS’s capabilities to include offering credit or loans to investors to conduct securities transactions, with the condition that the credit or loan is directly related to those transactions.

The leadership of Lightyear Europe AS comprises Martin Sokk, Heil’s Veskimeister, and Uku Lember. The page of Lightyear Europe AS is available on the Financial Supervision Authority’s website in the market participants register.

About Lightyear Europe AS

As defined on the Lightyear’s website, Lightyear Europe AS represents a straightforward and accessible avenue for global investment without the typical barriers or fees. Through an intuitive app, Lightyear Europe AS democratizes investing, making it accessible to all.

Challenges addressed

Lightyear Europe AS addresses several issues prevalent in the traditional investment landscape:

  • Expensive and non-transparent fee structures characterized by hidden and exorbitant costs.
  • Restricted access to global markets through local brokers, often resulting in subpar access.
  • A scarcity of informative and educational resources, making understanding investments challenging.

Although Lightyear Europe AS is in the early stages of its journey, it aims to surpass traditional incumbents significantly.

Services offered

Lightyear Europe AS offers:

  • A multi-currency account allowing users to deposit, hold, and convert funds across various currencies.
  • Access to over 3,500 international stocks and ETFs, with the portfolio continuously expanding.

The mission extends to enhancing users’ investment skills through the development of customized tools designed to cater to both novices and seasoned investors alike.

Within the app, users can find:

  • Customizable charts
  • Fundamental analysis of instruments
  • Analyst ratings and price targets
  • Financial news and more

Lightyear Europe AS is committed to innovation, ensuring users have access to the best tools available, tailored to their location.

The International Securities Identification Number (ISIN) is a unique code that is used to identify specific securities. Read more in this post.

Founding and Mission

Founded by former TransferWise executives Martin Sokk and Mihkel Aamer, Lightyear Europe AS aims to introduce a global perspective to the European investment scene. The company seeks to eliminate the traditional barriers European investors face, such as high transaction, custody, and hidden foreign exchange fees, through its multi-currency accounts, thus facilitating seamless access to international markets.

Legal and Regulatory Compliance

Lightyear Europe AS is registered with an LEI code: 254900BBBJZF2IE8EN54, adhering to the regulatory requirements for operating within the financial markets.

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