FinTech

Finance is one of the areas traditionally more impacted by technological developments. The latest years have been especially fruitful in presenting industry players with relevant technological innovations and SÉRVULO has been keeping up to date with the most disruptive breakthroughs in the realm, spotting the business opportunities they create for its clients, including banks, financial institutions, investment funds, insurance companies or startups.

When dealing with its Fintech clients – which include retailers, marketplace’s managers, credit institutions, payment institutions, electronic money stakeholders, crypto/blockchain exchanges, public administration entities, among others, whether incumbents or newcomers -  SÉRVULO’s integrated support service for Fintech provides combined legal solutions to navigate clients in the increasingly complex legal environment surrounding the use of technology for creating innovative and user-friendly financial solutions, with a special focus on the following main segments:

Cryptoassets: comprising the use of cryptocurrencies, NFTs, blockchain-based securities (both native and tokenised) for the purposes of granting/obtaining funding, performing payment obligations and entering into derivative contracts. SÉRVULO’s legal advice covers both transactional and regulatory elements, including, among other aspects, the registration of cryptoassets service providers with the local AML supervisor (the Bank of Portugal), the compliance with EU specific regulation, such as 5AMLD or MiCA and the integration with existing EU regulation, such as MIFID II.

Blockchain:  in the employment of distributed ledger technologies (DLTs) – of which blockchain is an example – in the financial markets in particular in the development by exchanges and banks of blockchain-based solutions for trading and registry keeping, including the DLT Pilot Regime. The advice provided by SÉRVULO also covers the legal implications of using smart contracts for contractual performance in the context of financial transactions.

Metaverse: in analysing the legal implications of the development and acquisition of NFTs and land in the metaverse, and prospecting further strategic business opportunities the metaverse brings to our clients.

Payment systems: in advising banks, payment services institutions and e-money issuers in setting up of its businesses in Portugal as well as on online and mobile payment systems and services in line with the applicable legislation, in specific the Payment Services Directive (PSD2), as well as in developing mobile banking apps which allow access to integrated bank accounts information.

Crowdfunding: in the setting up of crowdfunding platforms, including assistance in complying with regulatory requirements applicable to the activity, applying for licenses and liaising with the regulatory authority (CMVM). SÉRVULO also has experience in advising seed-stage companies aiming to resort to these platforms to obtain funding.

To that end, SÉRVULO’s integrated support service for FinTech is provided by a multidisciplinary team of lawyers who gather extensive expertise in banking, & finance, capital markets, crypto legal compliance, payment services, KYC & AML, ESG, crowdfunding, data protection, intellectual property, TMT or cybersecurity, in particular to tackle and prevent cybersecurity threats and technology risks.

The Fintech Team is coordinated by Verónica Fernández, partner of the Finance & Governance department and includesGuilherme Ribeiro Martins, José Guilherme Gomes, Catarina Mira Lança, Andreea Babicean and Luisa Cabral Menezes, who cover Finance & Governance matters, Miguel Gorjão-Henriques in EU and Competition matters and Miguel Santos Almeida, who advises on Litigation, Corporate Crime and Regulatory Compliance.