News

In Lithuania's capital Vilnius, a forested area on the eastern outskirts of the city serves as the registered address for more than 40 businesses, including several apparent IT, consulting and financial services companies. One of the businesses that lists Filaretų g. 99a as its office address is Qbit Financial Service, a locally registered cryptocurrency exchange that appears to have no physical presence in the Baltic nation. It holds little more than $100,000 in assets, according to Lithuania's corporate registry, where it does not list a single employee, yet the firm promotes itself as a "neobank" for corporates worldwide. Qbit, one...