COBALT advised Wallter, UAB in obtaining an electronic money institution licence for non-limited activity. This is the 34th time that such type of electronic money institution licence has been issued by the Bank of Lithuania.
With the electronic money institution licence in hand, Wallter, UAB intends to provide e-money issuance and payment services for small and medium-sized businesses, and for individuals. The institution will be basically engaged in the provision of money remittance, prepaid cards and multicurrency electronic purse services.
COBALT team advised Wallter, UAB on all issues related to obtaining the licence, drafted licence application documents and represented the company before the Bank of Lithuania. The team was led by Partner and Head of the Banking and Finance Practice Group Akvilė Bosaitė and Senior Associate Justina Milašauskienė.