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Cobalt Helps Mobilus Mokejimai Obtain Electronic Money Institution License

Cobalt Helps Mobilus Mokejimai Obtain Electronic Money Institution License


Cobalt has assisted UAB Mobilus Mokejimai in obtaining an electronic money institution license for restricted activity, enabling it to issue electronic money and provide payment services in Lithuania.

According to Cobalt, "the license will enable the company to offer its private and corporate customers services that allow safe transfer of money in just a few seconds, knowing only the recipient’s phone number. The company will invite customers to create their own accounts and to transfer money to other individuals or to pay for online purchases of goods and services by using the instant payment system."

According to Cobalt, "creating a favorable regulatory and supervisory environment for the provision of financial services and fostering innovation in the financial sector are among the strategic directions for 2017-2020 of the Bank of Lithuania. Together with other national institutions, the Bank of Lithuania seeks to make Lithuania the center of financial technologies in the Nordic and Baltic region."

The Cobalt team advising UAB Mobilus Mokejimai was led by Partner Akvile Bosaite.

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

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