EMI licenses in Europe: who holds them, and how fast new ones are granted
Every electronic money institution in the EEA is listed in the European Banking Authority's register, updated daily. This page aggregates that register: how many EMIs each jurisdiction has licensed, how broadly they passport, how old they are — and how the pace of new authorisations has changed.
The trend is the story. Authorisations peaked around 2019–2020 and have slowed sharply since; the licensed stock, meanwhile, stays put. That scarcity is why existing licensed entities trade at a premium — and it is measurable, not anecdotal.
New EMI authorisations per year
The register in numbers
| Jurisdiction | Licensed EMIs | Median EEA markets | Median age | Agents | Guide |
|---|---|---|---|---|---|
| Lithuania | 95 | 30 | 7 yrs | 34 | Guide |
| Malta | 43 | 30 | 5 yrs | 2 | Guide |
| Cyprus | 35 | 30 | 4 yrs | 2 | Guide |
| Ireland | 30 | 30 | 6 yrs | 4 | Guide |
| Netherlands | 30 | 30 | 3 yrs | 7 | — |
| France | 28 | 30 | 7 yrs | 199 | — |
| Luxembourg | 18 | 30 | 6 yrs | 188 | Guide |
| Italy | 15 | 1 | 7 yrs | 189 | — |
| Germany | 13 | 19 | 7 yrs | 0 | Guide |
| Bulgaria | 12 | 30 | 6 yrs | 4,901 | Guide |
| Spain | 12 | 27 | 7 yrs | 56 | Guide |
| Latvia | 12 | 27 | 2 yrs | 14 | Guide |
| Norway | 10 | 2 | 8 yrs | 0 | — |
| Denmark | 9 | 30 | 3 yrs | 0 | Guide |
| Finland | 9 | 30 | 4 yrs | 0 | — |
| Belgium | 7 | 27 | 13 yrs | 139 | Guide |
| Sweden | 7 | 19 | 7 yrs | 55 | — |
| Liechtenstein | 6 | 11 | 9 yrs | 4 | — |
| Czechia | 5 | 6 | 5 yrs | 3 | — |
| Croatia | 5 | 2 | 15 yrs | 0 | — |
| Greece | 4 | — | — | 2,661 | — |
| Hungary | 4 | — | — | 0 | — |
| Iceland | 4 | — | — | 0 | Guide |
| Estonia | 3 | — | — | 0 | Guide |
| Romania | 3 | — | — | 1 | Guide |
| Slovenia | 3 | — | — | 0 | — |
| Portugal | 2 | — | — | 0 | — |
| Austria | 1 | — | — | 0 | Guide |
| Poland | 1 | — | — | 1 | Guide |
| Slovakia | 1 | — | — | 0 | Guide |
Source: EBA PSD2 Register (EUCLID), data of 2026-08-30. The register has no legal significance and confers no rights in law. Reproduced under Decision 2011/833/EU. Medians are suppressed for jurisdictions with fewer than five licensed institutions.
Scarcity is the argument. The marketplace is the answer.
Browse licensed EMIs and payment institutions currently for sale.
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