Picture this: a balmy summer evening by the seaside, where the hum of conversation blends with the beat of a DJ’s tunes, and 300 of the sharpest minds in crypto, fintech, and blockchain are swapping ideas over cocktails. That’s the scene that unfolded in Riga, Latvia, on August 28, 2025, at an event that’s still buzzing in the minds of attendees. I’ve been to my fair share of networking gigs, but there’s something uniquely electric about a gathering that brings together innovators in a space as dynamic as web3. The event, dubbed Proof of Chill, wasn’t just another industry meetup—it was a celebration of Latvia’s growing role in the global crypto ecosystem, hosted by Paybis during Riga Tech Week.
Why Proof of Chill Stole the Show
Riga Tech Week is no small affair. It’s a citywide festival of innovation, packed with talks, workshops, and panels that draw tech enthusiasts from across the globe. Amid this whirlwind of activity, Paybis carved out a niche with Proof of Chill, an invitation-only blockchain mixer that brought together 300 leaders in a setting that was equal parts professional and relaxed. Held at Riga’s Lighthouse restaurant, the event was a masterclass in blending business with pleasure, fostering connections that could shape the future of fintech.
What made this event stand out? For starters, it wasn’t your typical conference with stuffy presentations and endless PowerPoint slides. Instead, Proof of Chill leaned into creating a vibe—think sunset views, curated cocktails, and interactive elements like an AI photo booth and a claw machine dishing out prizes. The goal was clear: spark meaningful conversations in a setting that felt more like a celebration than a boardroom.
Proof of Chill is only the beginning of our efforts to position Riga as a regional web3 economic leader.
– Founder and CEO of a leading crypto infrastructure provider
A Hub for Crypto and Fintech Leaders
The guest list was a who’s-who of the crypto and fintech world, carefully curated to ensure every conversation had potential. From blockchain developers to fintech entrepreneurs, the room was buzzing with ideas. The event was co-organized with the Latvian Blockchain Association (LBAA) and UN:BLOCK, Northern Europe’s premier crypto conference, which added serious clout to the evening. With 300 attendees, the mixer wasn’t just a networking event—it was a melting pot of perspectives, where pilot partnerships were sketched out and regulatory priorities debated over plates of gourmet bites.
I’ve always believed that the best ideas come from casual chats rather than rigid agendas. Proof of Chill nailed this. The seaside setting and laid-back atmosphere encouraged attendees to let their guard down, making it easier to dive into discussions about on-ramp services, off-ramp solutions, and the future of decentralized finance. It’s the kind of event where you might overhear a conversation about stablecoin adoption one minute and a pitch for a new blockchain protocol the next.
Paybis: A Baltic Success Story
At the heart of Proof of Chill was Paybis, a company that’s become a cornerstone of Latvia’s crypto scene. Founded in 2014, Paybis has grown from a local startup to a global player with over 5 million users. Their growth stats are nothing short of impressive: in the first half of 2025, they doubled their Baltic turnover and nearly doubled their retail user base compared to the previous year. That’s the kind of momentum that turns heads in the fintech world.
But Paybis isn’t just about numbers. They’re building infrastructure that powers businesses worldwide, offering services like crypto payments, secure business wallets, and round-the-clock support. Their focus on both retail and enterprise clients has made them a go-to for companies looking to integrate crypto into their operations. At Proof of Chill, you could feel their commitment to driving innovation, not just in Latvia but across the global web3 landscape.
Our community is growing, and with active work, we’ve managed to set Latvia’s ecosystem in motion.
– Executive Director of a prominent Baltic blockchain nonprofit
Why Riga Is the Place to Watch
Riga is quietly becoming a powerhouse in the web3 space, and events like Proof of Chill are proof of that. The city’s tech ecosystem is thriving, thanks in part to organizations like the LBAA, which is laser-focused on making Latvia a European hub for blockchain innovation. Their work spans education, policy advocacy, and community building, laying the groundwork for a vibrant crypto economy.
Then there’s UN:BLOCK, which drew thousands to Riga in 2025 and has already opened ticket sales for its next edition. Combine that with Riga Tech Week’s citywide celebration of innovation, and you’ve got a recipe for a region that’s punching above its weight. Perhaps the most exciting part? The Baltic region’s crypto scene is still young, which means there’s plenty of room for growth and collaboration.
- Latvia’s web3 ecosystem is fueled by a mix of startups, nonprofits, and global players.
- Events like Proof of Chill and UN:BLOCK are putting Riga on the map.
- The region’s focus on education and policy is creating a fertile ground for innovation.
What’s Driving Paybis’ Growth?
Paybis’ success in the Baltics is no accident. Their retail user base has exploded, with most transactions happening in euros and U.S. dollars. The most popular cryptocurrencies? BTC, USDT, and ETH lead the pack. But it’s not just retail—Paybis is also onboarding corporate clients, offering solutions that make it easy for businesses to integrate crypto into their operations.
The company’s growth is concentrated in key Baltic hubs like Tallinn, Riga, and Vilnius, but they’re also seeing traction in smaller markets. This regional focus, combined with their global reach, positions Paybis as a leader in the crypto infrastructure space. Their ability to cater to both individual users and businesses sets them apart in a crowded market.
| Metric | 2024 | 2025 (H1) |
| Baltic Turnover | Baseline | Doubled |
| Retail User Base | Baseline | Nearly Doubled |
| Corporate Accounts | Stable | Increased |
The Power of Community in Web3
One thing I’ve noticed about the crypto world is how much it thrives on community. Proof of Chill wasn’t just about networking—it was about building relationships that could lead to real-world impact. Attendees weren’t there to pitch; they were there to connect, share ideas, and explore what’s possible when bright minds come together.
The event’s relaxed vibe played a big role in that. From the DJ spinning tracks to the claw machine doling out surprises, every detail was designed to keep the energy high and the conversations flowing. It’s a reminder that in a field as fast-paced as blockchain, sometimes the best way to move forward is to slow down and talk it out.
What’s Next for Riga’s Crypto Scene?
If Proof of Chill is any indication, Riga’s crypto ecosystem is just getting started. The event showcased the city’s potential as a hub for blockchain innovation, but it also highlighted the work still to be done. Regulatory clarity, for one, remains a hot topic. As governments around the world grapple with how to handle crypto, events like this provide a space to discuss what’s working and what’s not.
Paybis, for its part, is doubling down on its commitment to Riga. They’re expanding their product and technical teams, creating high-paying jobs and reinforcing the city’s status as a web3 leader. With players like the LBAA and UN:BLOCK in the mix, the future looks bright for Latvia’s crypto scene.
- Continue building community through events like Proof of Chill.
- Push for regulatory frameworks that support innovation.
- Leverage Riga’s growing reputation to attract global talent.
Why Events Like This Matter
In a world where Zoom calls and virtual conferences dominate, there’s something refreshing about an in-person event done right. Proof of Chill reminded me why face-to-face connections are so powerful. You can’t replicate the energy of a room full of passionate people, all united by a shared vision for the future of finance.
For Riga, events like this are a chance to shine. They put the city on the map as a place where innovation happens, where ideas are born, and where the next big thing in crypto might just take root. If you ask me, that’s worth raising a glass to.
Proof of Chill wasn’t just a one-night event—it was a statement. A statement that Riga is ready to lead in the web3 space, that Paybis is a force to be reckoned with, and that the crypto community is stronger when it comes together. Here’s to more nights like this, where ideas spark, partnerships form, and the future feels just a little bit closer.
