Licence by product · Exchange
Crypto Exchange Licence
Banks, liquidity providers and payment rails all ask the same question before touching an exchange: where are you licensed? A full EU MiCA CASP licence needs €150,000 in capital and three to six months; faster routes like Georgia (~60 days) or an offshore VASP cost far less. We map the one that matches your volumes and banking.
overview
What you actually need.
A crypto exchange licence is the authorisation to run trading of digital assets — spot markets, brokerage, fiat on/off-ramps — for the public. Since MiCA took full effect, the market has split cleanly: EU-facing exchanges need a CASP authorisation in a member state, and globally-facing exchanges pick a regulated non-EU home that banking partners accept.
The EU route runs through Lithuania or Estonia: a CASP authorisation with €150,000 capital for the trading-platform class, 3–6 months on a complete file, and passporting into all 27 member states by notification. It's real regulation with real substance — a local entity, local officers — and it's what EU banks and PSPs now expect to see.
The speed-and-value route is Georgia: the National Bank runs a genuine VASP regime that registers an exchange in roughly two months at a token state fee (~$500), in a jurisdiction where crypto profits are effectively untaxed. It doesn't passport into the EU — but for a global exchange serving non-EU markets, it's the best-value regulated home anywhere. Offshore VASP regimes (Seychelles, BVI, St. Vincent) fill the gap between the two.
your options
The routes that work.
NBG VASP registration in ≈60 days at ~$500 state fee, 0% personal crypto tax, real regulator. The value route for global-facing exchanges.
Lithuania or Estonia authorisation, €150k capital for trading platforms, 3–6 months, passports to all 27 EU states. The only door into the EU now.
Seychelles ($150k capital), BVI or St. Vincent — regulated homes outside both blocs for exchanges optimising cost and flexibility.
head to head
Exchange licence routes compared
| Route | Capital / fees | Timeline | Best for |
|---|---|---|---|
| Georgia (VASP) | ~$500 state fee | ≈60 days | Speed, 0% crypto tax, global-facing |
| Lithuania (MiCA CASP) | €50k / €125k / €150k capital by class | 3–6 months | EU market via passporting |
| Estonia (MiCA CASP) | €50k / €125k / €150k capital by class | 4–6 months | EU market, VASP-upgrade path |
| Seychelles (VASP) | $150k capital (exchange) | 3–6 months | Offshore with real substance |
| BVI (VASP) | $5–15k application | 8–14 months realistic | Structuring flexibility |
| St. Vincent (VASP) | ~$6k fees + XCD 100k deposit | months, new regime | Lowest-cost registration |
requirements
Eligibility & docs.
step by step
From product to licence.
- Scope callYour exchange, target markets and custody model — we confirm which activities are actually licensable, where, and what the all-in number is.Day 1
- Company & structureWe incorporate the entity where the regime wants it — with the substance (director, office, officers) that regulator expects, no more, no less.Week 1–3
- File & evidenceKYC on owners, business plan, AML/CFT programme, custody architecture and liquidity arrangements — we assemble the file and run the regulator dialogue to approval.Week 3+
- Authorisation & railsLicence or registration granted; banking/EMI accounts and on/off-ramps plugged in around it. We stay on for reporting and renewals.Regime-dependent
Want the shortlist for your exact product?
Tell us your product, target markets and payment mix — we'll confirm the route that gets you live fastest at the lowest all-in cost, with the number itemised.
costs
What it costs.
Regulator schedules and statutory capital only — our service fee is itemised separately, and capital is your money on your balance sheet, not a fee. Banking/EMI onboarding is quoted with the licence: an exchange without fiat rails doesn't run.
go deeper
Jurisdictions & related services.
FAQ
How much does a crypto exchange licence cost?
Georgia registers a VASP for a ~$500 state fee (plus setup costs). A MiCA CASP needs €150,000 capital for the trading-platform class plus authorisation costs. Offshore: Seychelles wants $150k capital, BVI charges $5–15k application, St. Vincent ~$6k in fees plus a XCD 100,000 deposit.
What's the fastest way to license an exchange?
Georgia — about 60 days from a complete file with the National Bank. MiCA routes run 3–6 months (Lithuania) to ~8 (Czech Republic); BVI realistically 8–14 months.
Do I need MiCA to serve EU users?
Yes — since the transition ended, actively serving EU clients requires a CASP authorisation in a member state (then passported). Legacy VASP registrations no longer cover it. Reverse solicitation is a narrow exception, not a strategy.
Can one licence cover exchange plus custody?
Yes, if filed that way: MiCA authorises multiple services in one CASP application (custody raises the capital class), and Seychelles/BVI license by activity category. We scope the activity set before filing — adding services later means a variation, not a new licence.
What about banking for the exchange?
The licence is the prerequisite, not the solution — fiat rails come from EMIs and banks that accept your regime. We line up the banking with the licence; it's usually the longer pole of the two.
other products
Licensing a different product?
Reviewed by the Vantegris licensing team. This page is general information, not legal advice. Fee schedules and timelines mirror our jurisdiction pages and change when regulators change them.
Free consultation
Start your licence file.
Tell us the product — we'll map the licence, banking and structure that gets it live. Free, confidential, no obligation — most enquiries get a reply within 24 hours.