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Hodleris SIA (H-Finance) - Latvian MiCA CASP
On 25 June 2026 Latvijas Banka issued Hodleris SIA a MiCA CASP licence - one of two that day (the other being Bleap SIA), bringing the total number of Latvian MiCA CASPs to nine. Hodleris (H-Finance, hfinance.co) is B2B digital-asset infrastructure for financial institutions (custody, exchange, transfers), founded around 2019 in Vilnius (Vytautas Zabulis, Gintautas Scerbavicius), serving 100+ institutions. We cover the company, licence, audience and competitors.
On 25 June 2026 the Supervision Committee of Latvijas Banka issued Hodleris SIA a crypto-asset service provider (CASP) licence - one of two issued that day (the other being Bleap SIA), bringing the total number of Latvijas Banka MiCA CASPs to nine. Unlike Bleap's retail card, Hodleris is a B2B player: digital-asset infrastructure for financial institutions. Hodleris SIA is the Latvian entity of H-Finance (hfinance.co); the group is based in Vilnius, founded around 2019 (co-founders Vytautas Zabulis and Gintautas Scerbavicius), serving 100+ institutions. The licence covers four services: custody, exchange for fiat and other crypto-assets, and transfers. A fact-based review of the company, owners, services, audience, competitors and market impact.
What happened
On 25 June 2026 the Supervision Committee of Latvijas Banka issued Hodleris SIA a crypto-asset service provider (CASP) licence. The official statement was published on the Latvijas Banka website on 26 June 2026. On the same day Latvijas Banka also licensed a second company - Bleap SIA - bringing the total number of Latvijas Banka MiCA CASPs since the EU's single crypto-asset framework (MiCA) took effect to nine.
The previously known licences went to BlockBen SIA (2025-12-03), Nexdesk SIA (2025-12-10), SIA Paybis Europe (2026-05-12), Neverless SIA (2026-05-20), Trek Technologies SIA / Backpack EU (2026-05-27), AS TWINO Investments (2026-06-04) and SIA AlphaRoute / Kanga Exchange EU (2026-06-18). On 25 June 2026 two new participants joined the list at once - Hodleris SIA and Bleap SIA.
Unlike Bleap (a non-custodial Mastercard for consumers), Hodleris is a B2B player: it is digital-asset infrastructure for financial institutions rather than a retail exchange.
The company: who is H-Finance / Hodleris
Hodleris SIA is the Latvian entity of the company H-Finance (hfinance.co). H-Finance is a digital-asset infrastructure and compliance provider that enables banks, brokers and fintechs to work with crypto-assets - offering custody, trading APIs, liquidity access and regulatory tooling. In other words, H-Finance is the "back-end" layer on which other financial institutions can build their own digital-asset services.
The group is based in Vilnius, Lithuania; the Lithuanian entity operates as Hodleris UAB, while the new Latvian entity - Hodleris SIA - is the MiCA licensing base. The company says its infrastructure is used by 100+ institutions worldwide.
Owners and team
H-Finance's co-founders are Vytautas Zabulis and Gintautas Scerbavicius. Vytautas Zabulis is the CEO and managing director, while Gintautas Scerbavicius is the CTO. The team has Baltic fintech and digital-asset experience, and the company has operated since around 2019 (some sources say 2018).
Financials and scale
Hodleris/H-Finance is a private company, so detailed financial statements are not public. The main publicly stated scale metric is 100+ institutions served. Because the company operates in the B2B segment (infrastructure for other service providers), its revenue and volumes are not directly comparable to a retail exchange's user count or trading volume. Precise financials for the Latvian entity (Hodleris SIA) are not yet public.
Licensed services
The Hodleris SIA MiCA CASP licence covers four services:
- custody and administration of crypto-assets on behalf of clients;
- exchange of crypto-assets for funds (fiat);
- exchange of crypto-assets for other crypto-assets;
- transfer services for crypto-assets on behalf of clients.
This is a broader set than Bleap (which holds exchange services only) and reflects Hodleris' role as custody-centred infrastructure. A full custody service is especially important for institutional clients, for whom regulated asset safekeeping is a baseline requirement.
The product: B2B digital-asset infrastructure
Hodleris/H-Finance's main product features:
- Institutional custody - regulated safekeeping of crypto-assets on behalf of clients
- Trading and liquidity APIs - access to digital-asset markets via integration
- Fiat and crypto exchange and transfers
- Compliance and regulatory tooling - AML/KYC and MiCA compliance for institutions
- Fiat currencies: EUR, USD; English-language interface
Hodleris is not a retail app - it is designed to be integrated into other financial institutions' products, not used directly by individual users.
Target audience
Hodleris' aim is clearly institutional:
- Banks and payment institutions that want to offer digital-asset services to their clients;
- Brokers and investment platforms that need regulated custody and execution infrastructure;
- Fintechs that want to launch crypto services quickly without building the compliance and custody layer from scratch.
There is no direct retail service for individual users.
Position among competitors
Hodleris competes in the institutional digital-asset infrastructure segment, not the retail exchange market:
- Fireblocks, BitGo, Taurus, Zodia Custody - global institutional custody and infrastructure players; larger scale, but without a Latvian/Baltic focus.
- BVNK - Malta-based B2B stablecoin and payments infrastructure with a MiCA CASP licence; a direct regional competitor in the enterprise segment.
- Lightspark Payments Europe (ex-Striga) - Estonian B2B crypto-banking infrastructure (custody, IBAN, cards) with a MiCA CASP + EMI.
Hodleris' strength is an established Baltic presence, a custody licence and a 100+ institution client base; its challenge is competing with much larger and better-funded global custody players (Fireblocks, BitGo). The Latvian MiCA licence provides regulatory legitimacy and an EU passport, a meaningful advantage for attracting European institutional clients.
EU passport and the MiCA context
Once authorised in one EU member state, a crypto-asset service provider can offer services across the EU and the European Economic Area under the cross-border notification mechanism - in practice all 30 EEA countries. In Hodleris' case, the Latvian licence makes Latvia the group's MiCA base and provides the legal foundation to offer regulated custody and exchange to institutional clients across the EEA.
Impact on the Baltic and Nordic market
The Hodleris licence reinforces several trends. First, it confirms that Latvia is becoming a serious MiCA licensing hub - nine CASP licences since the regime began, two of them issued on a single day (25 June).
Second, Hodleris adds the institutional infrastructure layer to the region. Where Bleap broadens retail payment choice, Hodleris lets local and European financial institutions access digital-asset custody and trading in a regulated way. That can accelerate the entry of crypto-asset services into the traditional Baltic banking and fintech sector.
Third, the fact that a Baltic-origin company (H-Finance, Vilnius) chooses Latvia as its MiCA base strengthens the region's position on Europe's digital-asset infrastructure map.
What still needs clarifying
At the time of writing, the following about Hodleris SIA's operation under MiCA is not yet public:
- detailed Hodleris SIA financial statements and capital base;
- the ESMA Interim MiCA register entry with a Legal Entity Identifier (LEI);
- the precise custody technical solution and partners;
- a public Proof of Reserves or third-party custody audit.
Norriwire will update this article as official register entries and Hodleris' communication about the EU entity's operation appear.
Next milestones
- ESMA Interim MiCA Register - the entry with an LEI is usually added within 7-14 days of the national licence.
- Latvijas Banka market participants register - the official entry with a registration number.
- Hodleris/H-Finance official communication - announcements about the MiCA service scope and institutional clients.
- Custody audits and Proof of Reserves - whether the company publishes independent assurance.
Related articles
- Bleap SIA - a non-custodial Latvian MiCA CASP
- Kanga Exchange EU - Latvia's seventh MiCA CASP
- MiCA-licensed exchanges in the Baltics and Nordics