When a fintech startup secures a license held by only one other firm in all of Europe, it’s more than just a regulatory checkbox—it’s a signal that change is coming. Axiology, a Lithuania-based company building blockchain-powered financial infrastructure, has officially become the first in Northern and Eastern Europe—and only the second in the EU—to receive authorisation under the Digital Ledger Technology (DLT) Pilot Regime.
This milestone isn’t just about compliance. It’s about unlocking a faster, leaner, and more inclusive capital market across the continent.
A digital-native blueprint for EU capital markets
At the core of Axiology’s breakthrough is a regulated DLT-based trading and settlement system that allows for the issuance, trading, and settlement of digital bonds—all on-chain, all in real time. Their infrastructure, built on a permissioned version of the XRP Ledger, supports fully embedded settlement, custody, and notary services using regulated e-money tokens.
The goal? Drastically lower the cost and complexity of capital markets access for SMEs and retail investors—two groups often left behind by legacy systems and expensive intermediaries. Axiology’s digital platform reduces the bond lifecycle cost by over 40% and eliminates the standard two-day post-trade settlement delay. This isn’t just technological innovation; it’s a reimagining of how financial products reach the real economy.
Why this license matters
Authorised by the Bank of Lithuania in coordination with the European Central Bank (ECB) and ESMA, Axiology’s license under the EU’s DLT Pilot Regime gives it the legal footing to operate a full-stack digital market infrastructure. It’s a vote of confidence in Axiology’s technical maturity and in Europe’s commitment to testing new frameworks for digital finance.
This move aligns with broader momentum in the EU’s regulatory space. The DLT Pilot Regime, launched in 2023, was designed to explore how distributed ledger systems could safely integrate into traditional financial infrastructure. Axiology’s authorisation is one of the most advanced implementations of that vision to date.
CyberUpgrade’s strategic role in the journey
Behind this public achievement lies an often less-visible but equally critical factor: security and operational resilience. Axiology’s vision for reshaping European capital markets required more than just a solid product—it demanded full regulatory alignment, including readiness for the EU’s Digital Operational Resilience Act (DORA), which is fast becoming a baseline for ICT compliance across the financial sector.
That’s where CyberUpgrade stepped in.
From the outset, CyberUpgrade acted as Axiology’s outsourced security leadership team, guiding them through the dual challenge of ISO 27001 certification and DORA preparedness. These weren’t standalone exercises—they were deeply integrated steps in achieving regulatory approval under the DLT Pilot Regime.
CyberUpgrade led the design and implementation of the technical, operational, and documentation controls that form the backbone of both ISO 27001 and DORA-aligned governance. This included managing cybersecurity frameworks, incident response planning, third-party risk processes, and critical ICT resilience requirements—all essential to meeting EU licensing expectations.
By offloading over 80% of security and compliance workload to CyberUpgrade, Axiology was able to focus internal resources on technology and go-to-market strategy—without compromising on the rigorous demands of becoming a licensed market infrastructure provider.
As Algirdas Neciunskas, Axiology’s COO, put it:
“We needed a fast, efficient path to financial licensing and ISO 27001 certification, so we chose to outsource our security and compliance process to CyberUpgrade. Their expertise allowed us to offload 80% of security compliance tasks, accelerating our certification and freeing our team to focus on development.”
What comes next for Axiology
With operations set to launch in autumn 2025, Axiology is already working with partners across Europe—from national banks to crowdfunding platforms and neo-brokers. Their infrastructure will allow regulated firms to offer digital bond products without building their own trading and settlement stacks, expanding access to fixed-income markets for both institutional and retail investors.
The firm is also in discussions with Lithuania’s Ministry of Finance on launching digital government bonds, including low-denomination products aimed at the everyday investor. It’s a vision rooted in inclusivity, precision, and compliance—a rare but powerful trifecta in today’s financial landscape.
Bridging innovation and trust
In a sector where ideas are often stifled by complexity, Axiology’s story is a clear reminder that with the right partners, even the most ambitious infrastructure projects can move quickly and confidently. Their license isn’t just a regulatory win—it’s a sign that Europe’s financial future is finally starting to align with its digital ambitions.
And at CyberUpgrade, we’re proud to have played a part in making that future a reality.
