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Lithuania Cryptocurrency License

Transforming a Goal into a Reality by Consulting24

Lithuania VASP authorization
  1. Company registration

  2. VASP registration acquisition within FNTT

  3. Includes state and notary fees

  4. AML/CTF documentation

  5. Assistance in opening a share capital deposit account
     

20 000 €

Image showing Vilnius, Lithuania and Lithuania cryptocurrency license

 Lithuania Cryptocurrency License Explained

Image showing Vilnius, Lithuania and Lithuania cryptocurrency license

In Lithuania, there are two principal licenses for entities providing virtual asset services:
 

  1. Cryptocurrency Exchange License - This license authorizes a company to manage the operations related to converting virtual currencies into FIAT currencies and vice versa. It also allows the company to broker the exchange of virtual currencies between users, earning income through service fees in the process.
     

  2. Cryptocurrency Wallet License (also referred to as Cryptocurrency Custodial Services) - This license empowers a firm to securely store clients' digital currencies in its wallets. The firm also retains control over the private keys associated with these wallets, ensuring the secure handling of digital assets.

Registration process

Embarking on a cryptocurrency business in Lithuania can be as uncomplicated as setting up a UAB, a limited liability company model. It serves as the perfect springboard for your crypto exchange or custodial service, requiring an initial capital investment of €125,000. A quarter of this (€31,250) must be provided upfront, and the remaining 75% (€93,750) can be fulfilled over the subsequent year.
 

We value diverse leadership and welcome directors from any country. However, in order to safeguard the legitimacy of our cryptocurrency environment, we require the Anti-Money Laundering (AML) officer to be based in Lithuania.

Lithuania distinguishes itself with its forward-thinking and affordable approach to granting a Crypto Exchange License. We've incorporated essential elements of the MiCa Directive even before its formal integration, ensuring we stay at the forefront of modern regulation.
 

Moreover, the fast establishment period of 30-60 days, coupled with the requirement of a local bank account—which our Consulting24 team is happy to assist you with—makes Lithuania an attractive choice for cryptocurrency businesses.

Our Clients 

Potential Activities for a VASP Based in Lithuania: Service Range

Custodial Service

Holding a VASP license authorizes the holder to securely keep clients' digital currencies in custodial wallets. Essentially, the service provider can generate a digital wallet for a client, and in the process, sustain control over the wallet's private keys.

Crypto to Fiat, Fiat to Crypto

Being granted a cryptocurrency license in Lithuania endows one with the ability to mediate the mutual exchange between cryptocurrencies and conventional fiat currencies. This enables clients to transact utility tokens such as Bitcoin, Ethereum, BNB, and others against traditional currencies like the USD and Euro.

Crypto to Crypto

Companies acknowledged as VASPs are empowered to provide exchange services for a wide array of digital assets. This encompasses, but isn't limited to, Bitcoin, Ethereum, BNB, along with several other utility tokens and coins.

Staking as Service

VASPs have the license to employ staking to generate passive income via cryptocurrencies. This procedure, akin to making a deposit at a bank, requires immobilizing cryptocurrencies in a network to facilitate its functions. In exchange, those staking usually accrue additional coins, creating an earning potential while retaining their cryptocurrencies.

ICO/IDO/IEO

A Lithuania-based VASP is empowered to carry out Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), and Initial DEX Offerings (IDOs). These pathways furnish platforms for the VASP to debut its proprietary cryptocurrency. However, it's crucial to note that these offerings are solely restricted to the introduction of utility tokens.

Mint & Trade NFTs

A VASP registered in Lithuania possesses the ability to develop a platform for NFT (Non-Fungible Token) trading, or even get involved in NFT production. This greatly aids in the establishment of a distinct digital asset marketplace.

Your Branded Debit Card

Within the context of Lithuania's licensing framework, your enterprise is provided with the distinctive possibility of initiating its own branded debit card for your clientele. This card empowers your customers with the choice to execute purchases using widely accepted cryptocurrencies such as Bitcoin, Ethereum, BNB, and more.

OTC 

You are entitled to provide Over-the-Counter (OTC) trading solutions to your clientele under Lithuania's licensing regime. This service facilitates your clients in conducting substantial volume trades discreetly and directly. They can exchange widely recognized cryptocurrencies like Bitcoin, Ethereum, BNB, and more.

Crypto License in UAE

Navigate the complexities of obtaining a crypto license in UAE with ease. At Consulting24, we simplify the process. Discover more here.

Consulting24 Team

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

"As the CEO of Consulting24, my mission is to assist upcoming entrepreneurs in setting up their businesses in Lithuania and securing the requisite cryptocurrency licenses. Our comprehensive solutions simplify the whole process, enabling our clients to maximize the vast potential of the Lithuanian cryptocurrency industry."

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

"My expertise lies in providing tailored services to businesses venturing into the crypto domain, particularly in obtaining a Lithuania cryptocurrency license. With our expert guidance, clients can confidently navigate the complex regulatory landscape, ensuring they secure the necessary licenses for their crypto-centric initiatives."

lithuania crypto license
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