Selected Topics

eWallets

Effective, efficient, and digital payment solutions are consistent with the increasingly demanding consumer expectations. Current market trends demonstrate the significance of implementing efficient and effective payment solutions. Consistent with the increasing demand for effective digital payments, recent years have witnessed the development of EU regulations that accommodate the total shift to efficient digital payments, and novel payment service providers.

Digital wallets, also known as eWallets, enable online payments and payment management and money transfers, materializing the huge potential afforded by digital payments. eWallets serve a wide range of payment users, supporting transfers between individuals or businesses, between customers and businesses, and for internal business purposes. Keeping and managing funds in ewallets and executing and administering payments through such ewallets is instrumental to the growth and seamless operation of domestic, EU-wide, and international payments.

Following the development of cryptocurrencies, crypto-wallets have specific functions that enable the secure storing of private keys for such cryptocurrencies, effectively enabling secure access and execution of crypto-transactions. Crypto-wallet providers emerge at a significant rate, offering either custodial or non-custodial wallet services depending on the control of providers over the relevant funds.

Both ewallets and crypto-wallets present regulatory challenges which our team is well-equipped to effectively handle. We ensure regulatory compliance by monitoring and informing our solutions by the latest developments in the regulatory sphere. With special regard to crypto-wallets, we assess the type of wallet services and the potential regulatory implications, and offer comprehensive solutions, which are consistent with all regulatory needs in the area.