ECOVIS ProventusLaw Advises Backpack on Securing MiCA Licence from Latvijas Banka
Vilnius / Riga, May 2026 — ECOVIS ProventusLaw has advised Trek Technologies SIA, operating under the brand Backpack EU, in obtaining a MiCA crypto-asset service provider (CASP) licence from Latvijas Banka.
The CASP licence enables Trek Technologies SIA (Backpack EU) to operate across the EEA under the MiCA framework. The MiCA CASP licence authorises the company to provide custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds and other crypto-assets, execution of orders on behalf of clients, and transfer services related to crypto-assets. The payment institution licence enables the company to execute payments, including making transfers to payment accounts.
The MiCA Regulation entered into force in late 2024, introducing a harmonised legal framework for the crypto-asset sector across the European Union, including mandatory authorisation requirements for crypto-asset service providers. Once authorised in one EEA jurisdiction, a CASP may provide services across the EEA under the cross-border notification regime.
Baltic States Continue Strengthening Their Position as a European FinTech Licensing Hub
The objectives set out in Latvia’s Fintech Strategy, approved by the Latvian government at the end of 2025, include increasing the number of fintech companies operating in Latvia by one third. Lithuania, Latvia, and Estonia continue to attract fintech and digital asset licensing projects, offering a broad range of EEA-regulated financial licences and access to the EEA market through passporting regimes.
About Trek Technologies SIA (Backpack EU)
Backpack EU is an international crypto exchange and wallet infrastructure provider. Operating through Trek Technologies SIA, the company is now authorised to provide the full range of crypto-asset and payment services across the European Union under licences issued by Latvijas Banka.
About ECOVIS ProventusLaw
ECOVIS ProventusLaw is a top tier business law firm, part of the ECOVIS International network operating in more than 90 countries worldwide. With a presence in all three Baltic states – Lithuania, Latvia, and Estonia – the firm advises local and international clients on complex corporate, regulatory, fintech, employment, dispute resolution, tax, and technology matters, with particular strength in cross-border mandates across the Baltic region.
The firm has supported over 80 licensing projects, including more than 40 EMI, payment institution and MiCA licensing mandates across the Baltic states. ECOVIS ProventusLaw and its lawyers have been consistently ranked by leading international legal directories, including Chambers and Partners, IFLR1000, and The Legal 500 (2019–2026), with rankings in FinTech, Banking & Finance, M&A, Employment, TMT, Dispute Resolution, and Tax.
The firm is known for combining high-level legal expertise with practical, commercially focused advice.