COBALT advised UAB GlobalNetint in obtaining an electronic money institution licence for non-limited activity. This is the 23rd time that such type of electronic money institution licence has been issued by the Bank of Lithuania.
The licence will enable the company to issue and/or accept payment instruments, to provide services enabling cash to be placed on a payment account and cash withdrawals from a payment account as well as all the operations required for operating a payment account and to carry out money remittances, to issue, distribute and redeem electronic money.
COBALT team advised UAB GlobalNetint on all issues related to obtaining the licence, drafted licence application documents and represented the company in 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.