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View of Tallinn, Estonia, blending old and modern architecture, highlighting its significance in the crypto license sector.

Crypto Licenses: Wallet & Custody License
Setup Consultants

An artistic representation of Consulting24 founders Mardo Soo and Lena Elvbakken, depicted as experts in the crypto license field, symbolizing their leadership and expertise in the industry.

Why Choose our Crypto License Experts

Consulting24 has transformed from its initial project Zantepay in 2017 into a leading force in cryptocurrency consulting. Our journey began with the ZPAY token ICO, laying the groundwork for our expertise in blockchain technology. As we recognized Estonia's potential in the crypto sector, we evolved into Consulting24, specializing in crypto license consulting since 2019. Our achievements include processing over 500 licenses, notably securing a Binance license in Estonia, and investing in over 100 projects.

Our proficiency spans various blockchain platforms, focusing on services like token development and managing liquidity pools. With a robust LinkedIn network of 30,000+ followers and partnerships with major crypto funds like Sheesha Finance, we've solidified our position as experts in providing crypto licenses, including crypto trading licenses, crypto wallet licenses, virtual currency licenses, and crypto custody licenses. Our journey reflects our commitment to guiding clients through the evolving crypto landscape.

Image depicting Consulting24 with the 'Strongest in Estonia 2023 Award', combining Estonian symbols, award imagery, and cryptocurrency elements.

Our Clients 

A graphic combining Bitcoin imagery with VASP Crypto License symbols, depicting regulatory compliance in the cryptocurrency industry.

What is VASP Crypto License?

The VASP (Virtual Asset Service Provider) crypto license is a regulatory standard for businesses in the cryptocurrency sector.


It includes:

  • Crypto Custody License: For firms offering cryptocurrency storage and management.

  • Crypto Wallet License: For businesses providing digital wallets for cryptocurrency management.

  • Crypto Trading License: For platforms that enable cryptocurrency trading.

  • Virtual Currency License: Covering a range of activities involving digital currencies, including their exchange, transfer, and issuance.

This license ensures that crypto service providers adhere to strict security and regulatory standards, maintaining market integrity.

Comparing Crypto Licence: Estonia, Lithuania and Dubai

25 000€
20 000€
20 000€
License Type & Government fee
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. 9,700€ - Advisory Services & VA Transfer and Settlement Services
10 000€
No additional fee
2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services
Monthly and yearly are needed
Not required
May be required by VARA
Can be virtual
AML (Anti-Money Laundry Officer)
Local needed
Local needed
Can be any nationality
AML monthly salary
Starting from 2000€
Starting from 1200€
Local director
Can be of any nationality, but have to live in Estonia
Can be any nationality
Can be any nationality
Share capital terms
25% now, 75% within a year.
Required share capital
100 000€ - Crypto wallet and custodian services license. 250000€ - Cryptocurrency exchange license
125 000€
24,250€ (Advisory Services) - 194,000€ (Exchange Services)

Crypto License: Estonia

Estonia, often referred to as Europe's Silicon Valley, has been a pioneer in establishing a comprehensive framework for crypto licenses. Among their offerings is the Virtual Currency Service Provider License, which encompasses two key service areas: a crypto trading license that includes both crypto-to-fiat and fiat-to-crypto exchanges, and a crypto wallet license. This tech-forward Baltic nation has become a hub for crypto ventures, combining a welcoming approach with stringent regulatory oversight.

Why Estonia?

  1. Quick and efficient process: Once you submit your application, the FIU typically responds within 30-60 days. Talk about swift!

  2. Credible juristiction.

  3. 0% corporate tax.

Estonia stands out for several reasons in the crypto space. It offers a quick and efficient licensing process, with the FIU typically responding within 30-60 days of application submission. The cost for obtaining a license is reasonable, with a government fee of 10,000 Euros, making it one of the cheapest crypto licenses compared to global standards. Additionally, Estonia's favorable tax system for crypto and its status as a home for licensed crypto exchanges, including crypto custody licenses and VASP (Virtual Asset Service Provider) licenses, make it an attractive destination for crypto businesses.

A view of Tallinn, Estonia, blending medieval and modern architecture, highlighting its role in issuing virtual currency licenses.

Crypto License: Dubai

Dubai, renowned for its luxury and skyscrapers, is rapidly emerging as a key hub for crypto businesses, thanks to its unique financial regulations and the oversight of VARA (Virtual Assets Regulatory Authority). Here's why Dubai is an attractive destination for crypto enterprises:

  • Geographical Advantage: Positioned at the junction of Europe, Africa, and Asia, it's an ideal base for targeting these markets.

  • Business-Friendly Environment: Flexible regulations and tax incentives make it highly appealing for crypto ventures.

  • Tax Benefits: No employment or dividend tax, and notably, no capital gains tax on crypto trading.

Key opportunities in Dubai for crypto businesses include:

  • Crypto Wallet License: For companies offering wallet services.

  • Crypto Trading License: Enabling trading of virtual assets.

  • Virtual Currency License: For businesses dealing with virtual currencies.

  • Licensed Crypto Exchanges: Opportunity to establish or operate a licensed exchange.

  • Crypto Custody License: For entities offering crypto custody services.

These features make Dubai an enticing location for those in the crypto industry.

A panoramic view of Dubai's skyline, featuring its iconic skyscrapers and modern architecture, symbolizing the city's emergence as a key destination for obtaining a crypto trading license.

Cheapest Crypto License: Lithuania

Lithuania, a forward-thinking Baltic nation, is making significant strides in the cryptocurrency domain. The Bank of Lithuania, the country's regulatory authority, was ahead of the curve, establishing crypto-related guidelines back in 2017, ahead of many other nations.

In Lithuania, there are two main types of crypto licenses available: the Virtual Currency Exchange License and the Custodian Wallet Service License. These licenses are quite akin to those offered in Estonia.

The Bank of Lithuania is known for its stringent approach to compliance and transparency in the crypto sector.

Why is Lithuania a prime choice for crypto businesses?

  • Clear Regulatory Framework: Lithuania's early adoption of crypto regulations means they have a well-defined and clear set of rules.

  • Gateway to the European Market: As a member of the European Union, Lithuania offers access to the expansive European market.

  • Efficient Licensing Process: It's one of the faster countries in Europe to issue crypto licenses, typically within 30-60 days.

  • Cheapest crypto license: Lithuania is recognized for having the cheapest crypto license options in the EU.

  • VASP License Offering: The country provides comprehensive VASP (Virtual Asset Service Provider) licenses, including crypto trading licenses for exchanges and crypto custody licenses.

These factors contribute to Lithuania's growing reputation as a favorable destination for cryptocurrency businesses in Europe.

A scenic view of Vilnius, Lithuania, showcasing a harmonious blend of historical buildings and contemporary urban structures, symbolizing the country's advancement as a hub for the cheapest crypto license

Our Team

Mardo Soo, both CEO Consulting24, excels in the acquiring of the crypto licenses

Mardo Soo


  • LinkedIn

As the founder of Consulting24, my reason is to be the guiding light for entrepreneurs venturing into the fast-paced world of crypto in Estonia. We're the masters of making the complex simple. Our steadfast dedication to streamlining the licensing process underscores our unmatched position in this global metamorphosis.

Lena Elvbakken, the founder of Consulting24 excels in the acquiring of the crypto licenses

Lena Elvbakken


  • LinkedIn

As the co-founder of Consulting24, our goal is to shepherd entrepreneurs into Estonia's vibrant crypto universe. Our unwavering commitment to simplifying the license acquisition process spotlights our unique place at the forefront of this worldwide shift.

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