Finetix, UAB is a Lithuanian-registered VASP identified as the primary payment rail for the warned-against exchange MEXC. By providing dedicated Lithuanian IBANs (vIBANs) to the mutated domain MEXC.co, Finetix allows MEXC to evade regulatory blocks from BaFin, the FCA, and other EU authorities. R42 issues a Red Signal due to Finetix’s role in facilitating “stealth operations” and its exposure to the ongoing Lithuanian regulatory purge.

R42 Risk Signal

• Traffic Light: 🔴 High Risk (Red)

• Confidence Grade: Confirmed (FNTT Registry + Transactional IBAN Forensics)

• Rationale: Direct facilitation of unlicensed financial services through domain masking and transaction obfuscation for a high-risk offshore exchange.

Key Data Table

What the Company Does

Finetix operates as a “Payment-as-a-Service” (PaaS) gateway for the crypto sector. Its core product is the issuance of virtual IBANs (vIBANs) that allow offshore entities to accept SEPA transfers as if they were local EU businesses. This provides the “fiat plumbing” necessary for exchanges without direct EU banking relationships.

Regulatory & Legal Framework

• FNTT Registry: Currently registered in Lithuania as a virtual currency operator.

• The MiCA Deadline: Like all Lithuanian VASPs, Finetix is under extreme pressure to transition to a full CASP license by 2026. Given its association with the “mutated domain” schemes of MEXC, its likelihood of passing the Bank of Lithuania’s “Fit and Proper” test is assessed as LOW.

Ownership, Founders, Executives

Managed by Dmitrijus Jarmolajevas. The entity’s corporate structure is lean, designed for high-volume automated processing rather than retail service.

Corporate Structure & Related Entities

Finetix is part of a cluster of Lithuanian “White-Label” VASPs that often share office space and compliance infrastructure. It acts as an intermediary layer between traditional European credit institutions and offshore crypto platforms.

Products, Integrations & Technical Footprint

The primary technical footprint is the MEXC.co on-ramp. When a user attempts to deposit Euros into MEXC, they are redirected to a Finetix-powered checkout that generates a dedicated Lithuanian IBAN for the transfer.

Merchant / Customer Footprint

Dominant partner: MEXC Global. Finetix is the “invisible” merchant of record for thousands of EU-based traders who believe they are dealing directly with MEXC.

The “Mutated Domain” Scheme

Finetix facilitates the use of MEXC.co, a mirror site used to bypass the blocking of mexc.com by ISPs and regulators. By utilizing a “clean” Lithuanian company name (Finetix, UAB) on bank statements, the scheme prevents banks from triggering AML alerts associated with the “MEXC” keyword.

Complaints, Allegations, Enforcement, Litigation

• Regulatory Warnings: While Finetix itself is registered, its primary client (MEXC) is under warning from the FCA (UK), BaFin (Germany), and CONSOB (Italy). Finetix’s facilitation of these warned-against activities constitutes a significant AML breach.

Risk Factors & Red Flags

• Keyword Masking: Removing “MEXC” from transaction descriptors to avoid bank scrutiny.

• Jurisdictional Arbitrage: Exploiting Lithuania’s VASP register to serve residents in countries where the partner exchange is banned.

Merchant Due-Diligence Checklist

• [ ] Does the deposit IBAN start with LT and belong to Finetix, UAB? (Result: ALERT).

• [ ] Is the deposit being made via a .co or .net mirror domain? (Result: RED FLAG).

• [ ] Is the destination exchange unlicensed in your jurisdiction? (Result: CONFIRMED).

Evidence Box 

• [FNTT Lithuania – Virtual Currency Register Entry 306121430]

• [FinTelegram Intelligence: MEXC mirror domains and the Finetix IBAN trail]

• [Payment Log Trace: IBAN LT483120010853206016 – Finetix, UAB]

16) Update Log 

• Feb 2026: RatEx42 issues 🔴 Red Signal. Finetix identified as a primary bypass rail for the MEXC global network.