The Turkish financial technology company PrimeX has registered its activities in Latvia, company representatives told LETA. According to Firmas.lv, SIA Primex Group was registered in March this year, and the authorized capital is 3,000 euros. The owners of the company are Turkish citizens Erdal Kaya (33.33%), Mustafa Baltaci (33.33%) and Demet Zubeyroglu (33.33%). Last year, PrimeX won the Latvian Fintech Forum competition, organized by the Bank of Latvia and the Latvian Investment and Development Agency (LIAA), in which more than 200 representatives of the financial sector from the Baltic and Scandinavian countries took part. The company has developed a platform that allows financial institutions to integrate digital asset trading. The PrimeX solution is designed in accordance with the regulation of crypto-assets (Markets for Crypto-Assets or MiCA) developed by the European Commission. The company's founding team is originally from Turkey and consists of professionals with experience in financial services, technology and WEB 3.0 industries. The company registered its activities in Latvia and also became a member of the Latvian Blockchain Development Association (LBAA). Demeta Zubeiroğlu, one of the founders of PrimeX and chairman of the Turkish Fintech Association, said that Latvia is actively working to adapt the MiCA regulation and is generally a country open to Fintech startups. By operating here, PrimeX will have the opportunity to become part of the EU market. It is planned that part of the PrimeX sales team will be located in Latvia, as well as a platform for trading digital assets. LBAA Executive Director Reinis Znotins adds that over the past year, several foreign financial technology companies have chosen Latvia as their country for further operations, and Turkish investors see Latvia as a promising country for developing their activities in Europe. “Adaptation of the European Commission’s crypto asset regulation will give us the opportunity to approach more and more foreign companies, and in this regard we are cooperating with government agencies, developing a unified Latvian proposal for our international positioning,” says Znotins.
