One advantage the Baltic states had was their lack of legacy banking infrastructure. Unlike many Western nations that had to transition from traditional banking systems to digital platforms, the Baltics 'leapfrogged' directly into digital financial services.
Estonia's Wise, Lithuania's Vinted, and Revolut have achieved 'unicorn' valuations of over $1B (€0.92M), showcasing the Baltic fintech ecosystem's success.
Estonia has the highest number of unicorns per capita, Latvia excels in compliance expertise, and Lithuania has grown its fintech firms from a handful to over 270, demonstrating each state's unique achievements.
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