Aspora buys control of Lithuanian e-money firm Hokodo to expand in Europe

US-based fintech Aspora , the trading name of Vance Inc., has acquired a controlling stake in UAB Hokodo , a Lithuanian electronic money institution. The Bank of Lithuania approved the purchase of more than 50% of the share capital and voting rights, handing Aspora control of the regulated entity.

Aspora provides cross-border financial services across markets including the US, the UK, and the United Arab Emirates. Hokodo is a Bank of Lithuania-licensed electronic money institution offering digital payment solutions.

The deal supports Aspora's expansion in Europe and strengthens its position in the regulated financial services sector. Owning a licensed institution gives it a foothold to operate under EU financial rules.

Acquiring a regulated e-money licence is a faster route into Europe than building one from scratch — a well-worn path for fintechs seeking a compliant base on the continent.