Sorainen Lithuania has assisted International Fintech with the launch of its operations in Lithuania. International Fintech, backed by investors from Israel, is developing a system that provides e-money and e-wallet services to online customers.
Sorainen provided legal support in the process of obtaining an e-money license from the Bank of Lithuania which would authorize e-wallet and e-money services. International Fintech is the fifth of Lithuania's 12 e-money institutions with foreign capital backing.
"It is a great pleasure to see so much work bear fruit," says Sorainen Associate Arturas Asakavicius, who led the firm's team on the matter along with Associate Vytautas Sabalys. "Just recently the licensing process in Lithuania has experienced some favorable attention from local regulatory bodies, yet International Fintech was one of the first FinTech companies in Lithuania to set pathways in the licensing process. International Fintech is sure to make waves in the local market and abroad."