Walless has advised DiPocket on setting up a subsidiary in Lithuania and obtaining an electronic money institution license from the Bank of Lithuania.
According to Walless, the license will allow DiPocket to issue electronic money and provide payment services. The firm reported that, “DiPocket will focus on a B2B2C model, as opposed to the customary B2C or B2B. The company will target business clients who already have a large customer base and want to increase and deepen interaction with their customers by adding customized financial services to their offer.”
DiPocket, which was founded in 2015, is a financial institution supervised by the UK Financial Conduct Authority. It offers cashless payments and other financial services through a mobile application.
The Walless team included Partner Joana Baublyte-Kulviete, Associate Akvile Marozaite, and Junior Associate Viktorija Zemaityte.
