Our Clients
Lithuania Crypto Exchange License in Details
In Lithuania, crypto licenses primarily encompass two operational areas for virtual asset service providers:
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Cryptocurrency exchange license — This license enables a company to execute virtual currency exchange against FIAT and vice versa, or facilitate virtual currency exchanges among themselves, earning a commission for the provided services.
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Cryptocurrency custodial license (cryptocurrency wallet services) — This license permits a company to hold virtual currencies in its wallet on behalf of its clients and maintain the encrypted private keys from these wallets.
Lithuania Crypto Exchange License in Details
Starting a crypto business in Lithuania is streamlined and accessible, especially with the country's favorable legal environment. Here's a breakdown of the process for obtaining a Crypto Exchange License in Lithuania:
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Establishing a UAB: Create a limited liability company in Lithuania, an ideal foundation for crypto exchanges or storage services.
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Capital Requirement: A total capital of €125,000 is needed, with €31,250 (25%) to be paid upfront and the remaining €93,750 (75%) within a year.
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Leadership Diversity: Directors can be from any country, reflecting Lithuania's commitment to diverse leadership in the crypto sector.
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AML Officer Specification:
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Must be located in Lithuania.
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This position is crucial for upholding the integrity of the crypto ecosystem.
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The individual must possess an appropriate educational background and experience in AML (Anti-Money Laundering) practices.
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Maintaining an unblemished reputation is critical to uphold integrity and professionalism.
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Features of Lithuania's Crypto License:
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Proactive adoption of key elements from the MiCa Directive, ensuring advanced regulatory standards.
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Fast setup time of 30-60 days.
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Requirement of a local bank account, with support provided by the Consulting24 team.
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Lithuania's approach, encompassing a progressive, cost-effective licensing process and comprehensive support, positions it as a leading choice for establishing a crypto exchange under the Lithuania Crypto Exchange License.
For those considering a crypto exchange license in Estonia, explore your options here.
Consulting24 is dedicated to assisting businesses in acquiring their AE Crypto License with ease and efficiency. Discover more about what we offer here.
Lithuania Crypto Exchange License Cost & Documents
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Company setup;
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Notary/state fees covered;
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AML/CTF documents;
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Bank account initiation;
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Share capital registration;
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License procurement;
20 000€
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Provide passport copies (verification link);
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Submit address, phone, email;
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Issue POA for company registration;
NB! No visit needed for registration/account setup.
Scope of Services: What a Crypto Exchange License in Lithuania Can Do?
Comprehending the Wide-ranging Capabilities of Virtual Asset Service Providers
Crypto to Fiat, Fiat to Crypto
Possessing a cryptocurrency license in Lithuania endows one with the capacity to mediate the exchange between cryptocurrencies and traditional, fiat currencies reciprocally. As a result, clients are accorded the advantage of trading utility tokens ( Bitcoin, Ethereum, BNB, etc) and currencies such as the USD, Euro, and others.
Crypto to Crypto
Firms acknowledged as VASPs are accorded the right to offer exchange services for a multitude of digital assets, including but not limited to Bitcoin, Ethereum, BNB, as well as other utility tokens and coins.
Custodial Service
Holding a VASP (Virtual Asset Service Provider) license allows the holder to safeguard clients' cryptocurrencies through custodial wallets. This essentially means that the service provider can create a digital wallet for a client, and, while doing so, maintains control over the wallet's private keys.
Staking as Service
VASPs are allowed to use staking to create passive cryptocurrency income. This process, similar to making a bank deposit, involves locking cryptocurrencies into a network to support its operations. In return, stakers are rewarded, usually with more coins, thus providing a way to earn while holding cryptocurrencies.
ICO/IDO/IEO
A Lithuanian crypto exchange license allows for conducting ICOs, IEOs, and IDOs, focusing on launching utility tokens only.
Mint & Trade NFTs
A Lithuanian-registered VASP has the ability to establish a platform for NFT (Non-Fungible Token) trading, or even partake in NFT creation. This contributes to the formation of a unique digital asset marketplace.
Our Team
Mardo Soo
Founder
"As the CEO of Consulting24, I have the responsibility of assisting aspiring entrepreneurs in establishing their businesses and obtaining the necessary licenses for engaging in crypto-related activities. Our company provides comprehensive solutions that streamline the entire process, enabling our clients to fully leverage the potential of the cryptocurrency industry.."
Lena Elvbakken
Co-founder
"I specialize in providing personalized services to companies venturing into the cryptocurrency realm. Through our expert guidance, clients can navigate the complex regulatory landscape with confidence and successfully obtain the essential licenses needed for their crypto-focused initiatives."
