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Lithuania Crypto License Cost

Turning Your Goal into Reality with Consulting24

VASP authorisation
  • Company registration process

  • Acquisition of VASP registration within FNTT

  • Inclusive of state and notary fees

  • Provision of AML/CTF documentation

  • Aid in opening a share capital deposit account
     

20 000 €

Image showing Vilnius, Lithuania and Lithuania crypto license cost

 Lithuania Crypto License Explained

Image showing Vilnius, Lithuania and Lithuania crypto license cost

In Lithuania, entities offering virtual asset services primarily require two main licenses:
 

  1. Cryptocurrency Exchange License - This license grants a firm the authority to oversee activities involving the conversion of virtual currencies to FIAT currencies and the reverse. The license also permits the firm to facilitate the exchange of digital currencies among users, generating revenue through service charges.
     

  2. Cryptocurrency Wallet License - This particular license allows a company to safely store clients' digital currencies within their wallets. It also provides the company with control over the private keys linked to these wallets, guaranteeing the safe management of digital assets.

Registration process

Starting a cryptocurrency business in Lithuania can be as simple as establishing a UAB, a model of limited liability company. This serves as an ideal launchpad for your crypto exchange or custodial service, necessitating an initial investment of €125,000. Of this, €31,250 is required upfront, and the remaining 75% (€93,750) can be contributed over the following year.
 

We appreciate leadership diversity and welcome directors from any nation. Nonetheless, to ensure the integrity of our cryptocurrency ecosystem, the Anti-Money Laundering (AML) officer must be situated in Lithuania.
 

Lithuania stands out with its progressive and cost-effective method of issuing a Crypto Exchange License. We've integrated key aspects of the MiCa Directive even before its official adoption, ensuring we remain at the cutting edge of modern regulations.

Furthermore, the rapid setup time of 30-60 days, along with the necessity of a local bank account—which our team at Consulting24 is eager to help you secure—renders Lithuania a compelling option for cryptocurrency ventures.

Our Clients 

Services Spectrum: Possible Activities for a VASP Located in Lithuania

Custodial Service

Being a VASP license holder allows the licensee to securely store clients' digital currencies in custodial wallets. In essence, the service provider can create a digital wallet for a client, maintaining control over the private keys of the wallet throughout.

Crypto to Fiat, Fiat to Crypto

Acquiring a cryptocurrency license in Lithuania provides one with the authority to facilitate the exchange between cryptocurrencies and traditional fiat currencies. This allows clients to conduct transactions using utility tokens like Bitcoin, Ethereum, BNB, among others, against standard currencies such as the USD and Euro.

Crypto to Crypto

Firms recognized as VASPs have the authority to offer exchange services for a broad range of digital assets. This includes, but is not limited to, a variety of utility tokens and coins like Bitcoin, Ethereum, BNB, among others.

ICO/IDO/IEO

A VASP based in Lithuania is authorized to conduct Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), and Initial DEX Offerings (IDOs). These avenues provide platforms for the VASP to introduce its own cryptocurrency. However, it's important to underline that these offerings are strictly limited to the launch of utility tokens.

Staking as Service

VASPs are licensed to use staking to create passive income from cryptocurrencies. This process, similar to depositing money in a bank, involves locking up cryptocurrencies within a network to support its operations. In return, those who stake typically earn extra coins, providing a way to potentially increase their wealth while still holding onto their cryptocurrencies.

Mint & Trade NFTs

A VASP registered in Lithuania has the capability to create a platform for trading Non-Fungible Tokens (NFTs) or engage in NFT production. This significantly contributes to the establishment of a unique digital asset marketplace.

Your Branded Debit Card

Under Lithuania's licensing framework, your company has the unique opportunity to introduce its own branded debit card for your customers. This card allows your clientele to make purchases using popular cryptocurrencies like Bitcoin, Ethereum, BNB, and others.

OTC 

As per Lithuania's licensing regulations, you have the privilege to offer Over-the-Counter (OTC) trading solutions to your clients. This service enables discreet and direct trading of significant volumes for your clients. They can exchange well-known cryptocurrencies such as Bitcoin, Ethereum, BNB, and others.

Intrested Crypto Exchange License UAE?

Embarking on your crypto journey in UAE? At Consulting24, we provide guidance and expertise to secure your crypto exchange license in UAE efficiently. Explore our offerings here.

Our Team 

Mardo Soo, the CEO of Consulting24, is at the forefront of the effort to secure a Lithuania crypto license cost
Mardo Soo
CEO
  • LinkedIn

"As the CEO of Consulting24, my mission is to assist entrepreneurs in setting up their businesses in Lithuania and obtaining cryptocurrency licenses, all while keeping the cost factor in mind. With our expertise and comprehensive solutions, we simplify the process of acquiring a Lithuania crypto license and help you optimize your expenses. Our goal is to enable you to leverage the opportunities offered by the Lithuanian cryptocurrency industry while managing the licensing costs effectively. Trust us to guide you through the process and provide cost-efficient solutions for your crypto license needs in Lithuania."

Lena Elvbakken, Founder of Consulting24, is at the forefront of the effort to secure a Lithuania crypto license cost
Lena Elvbakken
Co-founder
  • LinkedIn

"When it comes to businesses venturing into the crypto domain, my specialization lies in delivering customized services, specifically in obtaining a Lithuania cryptocurrency license. Through our expert guidance, clients gain the confidence to navigate the intricate regulatory landscape, ensuring they successfully secure the required licenses for their crypto-centric initiatives. Count on our expertise to guide you through the process and ensure compliance with the necessary regulations for your cryptocurrency endeavors in Lithuania."

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