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Glimstedt Advises LHV Bank in Creation of New Financial Instrument

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Glimstedt has advised LHV, the Estonian bank, in developing what it describes as a “globally unique new kind of certificate of deposit”: CUBER and a mobile app called Cuber Wallet.

CUBER stands for Cryptographic Universal Blockchain Entered Receivables, which the firm describes as "a new kind of certificate of deposit and is meant to be a building block for various innovative financial products.” The firm describes Cuber Wallet as "an iOS and Android app for fast, free, P2P mobile fiat currency payments."

According to the firm, "CUBER is a noteworthy FinTech project and a valuable addition to Glimstedt's extensive experience in complex IT matters."

The firm’s team was led by Partner Priit Latt.

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