WALLESS Assisted RIA Lithuania, UAB in Obtaining a Payment Institution License from the Bank of Lithuania

WALLESS team is pleased to have assisted RIA Lithuania, UAB in successfully obtaining a payment institution license from the Bank of Lithuania. The license will allow RIA Lithuania, UAB to provide payment services and expand across the EEA.

The sole shareholder of the institution is Euronet Worldwide, Inc. (100%), whose shares are traded on the Nasdaq Exchange in the United States. This company owns the RIA Money Transfer group of companies, known worldwide as a money transfer service provider – RIA Lithuania, UAB also belongs to this group. Clients from the RIA payment institution operating in the United Kingdom and orders from the main RIA company’s countries – France, Spain, and Germany – are going to be transferred to the institution operating in Lithuania. Later on, RIA is expected to expand to other European countries as well.

WALLESS team consisting of partner Joana Baublytė-Kulvietė and senior associate Simona Kišūnaitė assisted RIA Lithuania, UAB throughout the licensing process.

More information can be found here.