We advised BEM Europe UAB, operating under the brand name Benker, on obtaining an electronic money institution licence in Lithuania. The company will provide innovative payment services to users, offering QR payment solutions, traditional money transfers and SEPA (Single Euro Payment Area) payments, currency exchange services and payment cards.

The company will provide these payment services using a unique hybrid blockchain platform, which gives users more security and control in managing their finances. In addition, through partners, the company also plans to offer a platform for gold exchange linked to the gold reward programme. The company plans to provide services in Lithuania, Estonia and elsewhere in Northern and Easter Europe, as well as in other European countries.

Our services and team

Our team consisted of partner Tomas Kontautas, and associates Liutauras Vasiliauskas, Ieva Dagytė and Jurgita Tekorienė. We provided consultation to the client on various corporate legal matters, including shareholding structuring, commercial law, and contract law matters. We also assisted the client in preparing the application for an electronic money institution license, as well as representing the client at the Bank of Lithuania throughout the licensing process.