Sorainen advised IBS Lithuania in the process of obtaining an e-money licence from the Bank of Lithuania. The company will be administering payment systems that allow rapid and inexpensive money transfers from Europe to Asia and vice versa. The payment systems will enable opening electronic accounts, issuing e-money, saving money and providing payment services.
IBS Lithuania is part of the Chinese Fintech group International Business Settlement (IBS), operating in Europe, Asia, Africa and other regions. IBS shares are listed on the Hong Kong stock exchange market.
Sorainen advised IBS Lithuania on licensing, business model structuring and other issues. The Sorainen team included office managing partner Tomas Kontautas and associates Artūras Asakavičius, Vytautas Sabalys and Laura Matukaitytė.
Sorainen was among the founders of the Lithuania-China Business Council. The main goal of the chamber is to promote Lithuanian-Chinese economic relations.