Mon, Aug
35 New Articles

Cobalt Helps Wittix Obtain Electronic Money Institution License

Cobalt Helps Wittix Obtain Electronic Money Institution License

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has helped UAB Wittix obtain an electronic money institution license for unrestricted activity.

According to Cobalt, "the license will enable Wittix to issue and/or acquire payment instruments and process incoming payments, execute payment transactions, and transfer funds on the payment account. In addition, Wittix will be entitled to make one-off direct debit transfers and execute payment transactions through a payment card or a similar device, as well as make money remittances, issue, distribute, and redeem electronic money."

Cobalt advised Wittix on all issues related to obtaining the license, drafted the license application documents, and represented the company with the Bank of Lithuania. 

The Cobalt team was led by Senior Associate Justina Milasauskiene and Associate Justina Auzbikaviciene.

Lithuanian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

All News about Cobalt can be found here.


Our Latest Issue