Ellex’s sizeable team has been assisting clients with banking licences and e-money licences recently. Its client roster includes big names such as Revolut and Visa Payments. Ieva Dosinaitė has been advising international clients on their entry into the Lithuanian market, as well as undertaking work for domestic clients such as Lithuania Post. Banking and finance head Giedrius Stasevičius is also very active in the fintech arena, and has particular expertise in advising international clients.

Pan-Baltic firm Sorainen has a sizeable footprint in the Lithuanian fintech market, as has been evidenced by its work for the Lithuanian government, which recently included advising on its guidelines on tokenised IPOs. Also notable is that the firm is an official partner of the Wise Guys Fintech 3 accelerator programme, which is an initiative set up to encourage startups to set up in Lithuania. Managing partner Tomas Kontautas, who formerly worked for the financial regulator, has been very active in assisting international companies with obtaining e-money licences. He co-heads the practice with ex-banker Augustas Klezys, who is similarly well-placed to handle complex licensing and regulatory issues.

At WALLESS, Joana Baublyte-Kulviete has a strong track record in handling licensing issues, which was showcased by her assisting the capital financing company PayRay with obtaining a full banking license from the Bank of Lithuania and the ECB. Gediminas Rečiūnas has been advising both local and international players on being granted e-money licences.

Cobalt is a well-established name in Lithuania’s fintech market and most notably has its own Blockchain Task Force, which advises clients through all stages of initial coin offerings. Equally strong advising investors and fintech companies, the team’s workload primarily involves corporate transactions and financings, as well as applications for e-money licences. The team is led by Akvilė Bosaitė and Eva Suduiko, with Bosaitė focusing on licensing matters, while Suduiko handles corporate and banking transactions. Managing partner Irmantas Norkus is also highly active in licensing and transactional matters.

TGS Baltic works for a broad mix of clients ranging from international companies (such as Revolut and Opera) to local start-ups, with particular strengths in areas such as e-money, e-commerce, P2P lending and crowdfunding. Practice head Žygimantas Stankevičius is uniquely qualified to represent financial institutions, having previously worked as head of legal at Luminor Bank.