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Cobalt Helps Mobilus Mokejimai Obtain Electronic Money Institution License

Cobalt Helps Mobilus Mokejimai Obtain Electronic Money Institution License

Lithuania
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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.