Adon Legal has assisted UAB IBS Lithuania with the revision of its electronic money institution license.
According to Adon Legal, the revised license will enable IBS Lithuania to offer Internet merchants the option of accepting payments from Chinese digital wallets such as WeChat Pay and Alipay, issue debit cards, allow its clients to transfer and receive funds from China, and deposit cash into their accounts.
IBS Lithuania is a subsidiary of International Business Settlement Holdings Limited, a global FinTech company that develops banking services for global customers. IBS is listed on the Hong Kong Stock Exchange.
The Adon Legal team was led by Managing Partner Donatas Sliora.