CoinGate

CoinGate started in 2014 as UAB Virtualios Valiutos, and a team of three people in Vilnius began operations in 2015. The co-founders include Jonas Gilys and Irmantas Bačiulis, who is the chief technology officer, and the company renamed its legal entity UAB Decentralized in 2020.

Vilius Semėnas leads CoinGate today as chief executive officer of the Vilnius company. The group also sells crypto gift cards, which come from the separate company Rewards Distributed UAB, and CoinGate states that this company is not a regulated financial services provider.

The Bank of Lithuania authorized UAB Decentralized as a crypto-asset service provider under Article 63 of MiCA on 16 December 2025, with authorization code LB002323. The interim register of ESMA lists custody and administration of crypto assets, exchange of crypto assets for money or for other crypto assets, and transfers of crypto assets on behalf of clients.

The entry names 29 further states of the European Economic Area in which CoinGate offers these services from Lithuania under the passport of its CASP license. The law firm Cobalt described the decision as the first license in Lithuania for a company with crypto services as its core business.

UAB Decentralized also holds authorization code LB002324 as a payment institution from the Bank of Lithuania. European supervisors treat the transfer of e-money tokens as a payment service as well, so a processor that settles merchant payments in euro or dollar stablecoins needs this second license next to its CASP authorization.

For merchants in the EU the two licenses mean that one Lithuanian provider handles both the crypto side and the euro side of a payment. A shop can accept bitcoin or stablecoins at checkout, have the amount converted and receive a euro payout to its bank account.

CoinGate is a crypto payment gateway from Vilnius for online merchants, software sellers and service providers that want to accept crypto payments from their customers. The company also offers crypto payouts, multi-currency treasury accounts, invoices and refunds, and it describes itself as an EU MiCA-licensed crypto-asset service provider.

A merchant adds the CoinGate payment gateway to its shop through a plugin for its shop system, a payment link or an API. The customer pays from any wallet or exchange account, and the merchant chooses whether CoinGate settles the payment in crypto or converts it and pays out euros.

Private customers can buy crypto assets on the CoinGate website with a debit or credit card and receive them in their own wallet. These purchases run under the same MiCA authorization as the merchant business, which includes the exchange of crypto assets for money and the transfer of crypto assets.

CoinGate is regulated by the Bank of Lithuania, which supervises UAB Decentralized as a crypto-asset service provider under MiCA and as a payment institution. The gift cards sold under the CoinGate brand are an exception, because the separate company Rewards Distributed UAB sells them outside these licenses.

CoinGate accepts payments over the bitcoin Lightning Network, on Solana and on the Ethereum scaling network Polygon, among other networks, and it also supports Binance Pay as a payment method. Merchants receive their settlement in crypto or in euros, and the Lightning option suits small amounts because its network fees stay low.