Cobalt has advised Wallter in obtaining an electronic money institution license for non-limited activity. This is the 34th time that this type of license has been issued by the Bank of Lithuania.
According to Cobalt, with the license, Wallter intends to provide e-money issuance and payment services for individuals and for small and medium-sized businesses. The company will be primarily engaged in the provision of money remittance, prepaid cards, and multi-currency electronic purse services.
The Cobalt team advised Wallter on all issues related to obtaining the licence, drafted licence application documents, and also represented the company before the Bank of Lithuania. The firm's team was led by Partner and Head of the Banking and Finance Practice Group Akvile Bosaite and Senior Associate Justina Milasauskiene.