RE: Mica license20 Oct 2025 16:23
The MiCA licence would be for GS20/Bake or GS Fintec UAB and the EMI licence is for Angra in the uk
Under the paragraph digital assets in the EOY report:
The GS20 Exchange and Bake's crypto asset operations have been combined into one single operating entity, GS Fintech UAB, with the backend systems between Bake and the GS20 Exchange also being fully consolidated. In addition, key personnel from CAKE, the majority based in Singapore, have been integrated into the Group's digital assets operations.
The "GS20 Exchange" brand is currently undergoing a refresh and the frontend is being further developed into a fully-fledged high frequency exchange trading service. Following this, GS Fintech UAB will deliver a seamless, unified experience to its customers under a single, cohesive brand identity.
During the period Noewe UAB, a Lithuania-based professional services firm, was engaged to assist with aligning GS Fintech UAB's financial year-end reporting with the Group's 31 March year-end. Additionally, Noewe UAB is providing guidance on regulatory compliance expectations, which will be invaluable in ensuring regulatory adherence is maintained and supporting GS Fintech UAB's ongoing growth through the GS20 Exchange and Bake.
GS Fintech UAB is actively advancing its compliance framework in alignment with the European Union's MiCA regulations and continues to monitor regulatory developments with diligence. Our commitment to compliance and innovation remains steadfast as we navigate these changes and continue to explore opportunities within the evolving regulatory landscape. During the year, significant MiCA compliance costs, including legal fees, consultancy fees, and recruitment costs have been incurred to ensure the Group fully complies with licensing requirements. This has had an impact on the financial performance of the digital asset businesses during the year, but has ensured they are well positioned for the future and the anticipated growth.The GS20 Exchange and Bake's crypto asset operations have been combined into one single operating entity, GS Fintech UAB, with the backend systems between Bake and the GS20 Exchange also being fully consolidated. In addition, key personnel from CAKE, the majority based in Singapore, have been integrated into the Group's digital assets operations.