--- title: "Crypto Banking for Cyprus CASPs | CySEC MiCA Authorisation" description: "Crypto banking for CySEC-authorised CASPs and CIFs (Article 60 route): per-client ledger, Kraken liquidity, stablecoin flows, DORA documentation." url: "https://crassula.io/solutions/crypto-banking/cyprus-casp/" lang: "en" image: "https://crassula.io/static/images/og/crassula-default.d7d01fb8a962.jpg" alternates: "en": "https://crassula.io/solutions/crypto-banking/cyprus-casp/" "de": "https://crassula.io/de/solutions/crypto-banking/cyprus-casp/" "es": "https://crassula.io/es/solutions/crypto-banking/cyprus-casp/" "fr": "https://crassula.io/fr/solutions/crypto-banking/cyprus-casp/" "x-default": "https://crassula.io/solutions/crypto-banking/cyprus-casp/" index: "https://crassula.io/llms.txt" --- Cyprus · CASP # Crypto banking for crypto-asset service providers authorised by CySEC Until July 2026 a Cyprus crypto firm could operate from a place on CySEC's AML register. That register now counts for nothing: only a MiCA authorisation, or a notification by a firm CySEC already licenses, lets you serve clients. The platform you run has to stand up to that level of review. [Request demo](https://crassula.io/request-demo/) [Crypto Banking →](https://crassula.io/solutions/crypto-banking/) Your market**Cyprus**CASP - One ledger for client crypto and euro - Liquidity through Kraken - Stablecoin transfers mapped for payment rules - ICT and DORA sections for your CySEC file Rails your customers can use **SEPA****SEPA Instant****SWIFT****On-chain transfers****Internal transfers** What the regulator asks about your IT**7** ![Kraken](https://crassula.io/static/images/solutions/connector-logos/kraken.13f0122dfa3c.png) Case Studies ## See what teams build with Crassula. ![Keytom](https://crassula.io/static/images/solutions/cases/logo-keytom.bdceda23dc6c.png) - Crypto payments - Multi-currency exchange - Digital-asset accounts Live on Crassula ### [Bringing fiat and digital assets together.](https://crassula.io/cases/keytom/) Fiat and crypto payments, multi-currency exchange and digital-asset accounts on Crassula infrastructure. [Read case study: Keytom](https://crassula.io/cases/keytom/) ![Wickie](https://crassula.io/static/images/solutions/cases/logo-wickie.f3b353890315.png) - Digital wallets - Web interfaces - iOS and Android apps Live on Crassula ### [Fiat and crypto products across web and mobile.](https://crassula.io/cases/wickie/) Digital wallets and financial journeys delivered through Crassula APIs, web interfaces and iOS and Android apps. [Read case study: Wickie](https://crassula.io/cases/wickie/) Crypto Banking · CASP ## What you can offer under a CySEC CASP authorisation ### Custody and administration Each client gets crypto accounts with deposit addresses. Keys sit with the custody provider you contract, and your firm answers to CySEC for them. ### Buy and sell against euro Clients exchange crypto for euro or for another coin at a price and fee they see before they confirm, with liquidity from a connected provider. ### Stablecoin wallets with a payment licence alongside If you hold or move e-money tokens for clients, the platform keeps those flows apart so they can run under your own payment licence or through a payment service provider you partner with. ### Euro accounts next to crypto IBAN accounts from your banking partner with SEPA and SWIFT, on the same ledger as each client's crypto positions. ### Crypto services for an investment firm's clients A Cyprus Investment Firm that notifies CySEC under Article 60 of MiCA can add crypto accounts for existing clients without building a second back office. ### Clients across the EEA After authorisation, passport your services to other member states and serve them from the same environment. ### What this licence does not cover - Serving clients on the strength of a CySEC CASP registration. The transition for registered firms ended on 1 July 2026. - Issuing your own e-money tokens. That needs authorisation as a credit institution or an e-money institution. - Custody or transfers of e-money tokens without payment authorisation or a payment service provider partner, now that the EBA's transition to 1 March 2026 has passed. Your market ## What the regulator asks about your IT Each requirement, what the platform gives you for it and who owns it after launch. 1 Application on CySEC's Form 2 under Article 62 of MiCA, with the content set by the EU technical standards Technical sections on the ICT systems, security and data flows of the platform, mapped to the headings the standards ask for. You, with our input 2 Separation of client crypto from your own holdings (Article 75 MiCA) Client positions kept on ledger accounts separate from the firm's own, with exports to reconcile against custody wallets. Your operations team, on platform data 3 Client funds held with a credit institution or central bank (Article 70 MiCA) The euro owed to each client shown per account, ready to match against your client money account. Your finance team, on platform data 4 PSD2 treatment of e-money token custody and transfers, per CySEC Circular C722 E-money token wallets and transfers flagged separately, so they can sit under a payment licence or a partner's licence. You, with your lawyers 5 Travel Rule data on every crypto transfer, including checks on self-hosted wallets under the amended Cyprus AML law Originator and beneficiary data captured at onboarding and on each transfer, exchanged through a connected Travel Rule provider. Your compliance officer 6 DORA ICT risk management and register of information Architecture, hosting, subcontractors, access roles, backups and incident handling described for your policy and register. You, with our input 7 Orderly wind-down plan for client assets Exports of every client's crypto and euro positions, and a description of how accounts can be closed or moved. You, with our input Cyprus ## Payment rails and providers Rails your customers can use SEPA SEPA Instant SWIFT On-chain transfers Internal transfers ![Kraken](https://crassula.io/static/images/solutions/connector-logos/kraken.13f0122dfa3c.png) ### Kraken Holds a MiCA authorisation from the Central Bank of Ireland that it can use across the EEA. Liquidity for your exchange service. Kraken Embed availability for Cyprus clients is not confirmed, so check with Kraken. ### [Prefer another provider?](https://crassula.io/connectors/) Crassula connects 60+ payment, banking and compliance integrations. We will check which ones fit your licence. *Explore all connectors →* **24/7**real-time processing, no batch window **60+**payment and provider integrations connected **150+**companies run on Crassula **15+**languages the platform speaks Cyprus ## Dates to plan around Rules that change what you have to build, in the order they apply. 1. **17 Oct 2024** CySEC stops accepting new registrations for its national CASP register. Notifications from firms registered elsewhere in the EEA close on 30 October. 2. **13 Nov 2024** CySEC opens a preliminary assessment phase and starts taking MiCA applications and Article 60 notifications. 3. **30 Dec 2024** MiCA applies to crypto-asset service providers, together with the Travel Rule under Regulation (EU) 2023/1113. 4. **18 Jun 2025** Cyprus amends its AML law to fit MiCA and the Travel Rule. The provisions for the local CASP register are removed. 5. **27 Feb 2026** Last day for registered CASPs to apply to CySEC for MiCA authorisation. Firms that do not apply must submit a wind-down plan. 6. **1 Mar 2026** End of the EBA's suggested transition for e-money token custody and transfers. CASPs need a payment authorisation or a payment service provider partner. 7. **1 Jul 2026** The transitional period ends. Crypto services in Cyprus now require a MiCA authorisation or an Article 60 notification. CASP ## Preparing a CySEC CASP application? Name us in your file. CySEC reviews governance, client asset protection and ICT in depth, and many applicants come from a lighter AML registration. We bring a configured platform and write the technical parts of the file around it, so your advisers can focus on the legal and governance sections. [Talk to us about your application](https://crassula.io/request-demo/) Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application. 1. 01 ### A platform you can demonstrate A configured environment to show the regulator, not slides. 2. 02 ### The technical part of your application, prepared ICT systems, security and DORA, outsourcing, business continuity and wind-down data, written for your CySEC application. 3. 03 ### Providers lined up Liquidity through Kraken, plus banking, custody and KYC providers from our network, matched to your licence. ![A customer checking digital-asset balances at home.](https://crassula.io/static/images/features/people/assets-1200.7142bcecf019.webp) Crypto Banking ## A Limassol firm moving from registration to authorisation Picture a Limassol company that was on CySEC's CASP register and filed its MiCA application before the 27 February 2026 deadline. Its stablecoin wallets were the sticking point: holding and sending e-money tokens for clients counts as a payment service under the EBA's reading of PSD2, so it agreed a partnership with a licensed payment institution rather than apply for a second licence. We set the platform up in its brand, with Kraken liquidity and the custody provider it chose, and move client balances onto the ledger with e-money token flows routed through the partner. Its ICT and DORA sections are rewritten around the new set-up. Once CySEC authorises it, the firm notifies its passport for Greece and Germany. Regulatory background: our [MiCA CASP licence guide](https://crassula.io/guides/licenses/mica-casp/) and the [guide to the Cyprus Investment Firm licence](https://crassula.io/guides/licenses/cyprus-cif/) for firms using the Article 60 route. Guides ## Read the licence guides ![MiCA CASP License in 2026: The Complete Guide](https://crassula.io/static/images/guides/mica-casp/mica-crystal-preview-960.09abba5803a6.jpg) ### [MiCA CASP License in 2026: The Complete Guide](https://crassula.io/guides/licenses/mica-casp/) ![Cyprus CIF License in 2026: The Complete CySEC Investment Firm Guide](https://crassula.io/static/images/guides/cyprus-cif/cyprus-amphora-preview-960.a085d853228a.jpg) ### [Cyprus CIF License in 2026: The Complete CySEC Investment Firm Guide](https://crassula.io/guides/licenses/cyprus-cif/) ![Cryptoasset Business Registration in 2026: MiCA, CASP and Beyond](https://crassula.io/static/images/guides/cryptoasset-business/crypto-seal-preview-960.c7da663526d7.jpg) ### [Cryptoasset Business Registration in 2026: MiCA, CASP and Beyond](https://crassula.io/guides/licenses/cryptoasset-business/) ![Crypto Banking as a Service in 2026: Architecture, Software and Launch Path](https://crassula.io/static/images/guides/what-is-crypto-banking/crypto-bank-links-preview-960.7748647fa1c9.jpg) ### [Crypto Banking as a Service in 2026: Architecture, Software and Launch Path](https://crassula.io/solutions/crypto-banking/guides/what-is-crypto-banking/) ![White-Label Crypto Wallet in 2026: The Complete Guide](https://crassula.io/static/images/guides/white-label-crypto-wallet/crypto-cold-wallet-preview-960.c0246c88ffb1.jpg) ### [White-Label Crypto Wallet in 2026: The Complete Guide](https://crassula.io/solutions/crypto-banking/guides/white-label-crypto-wallet/) [**Explore all guides**Licensing, payments, cards and core banking, explained by our team.](https://crassula.io/guides/) Cyprus · CASP ## FAQ The questions teams ask us before a first call. [**Not covered here?**Bring your question to a demo with our team.](https://crassula.io/request-demo/) We were on CySEC's CASP register. What is that worth now? Nothing on its own. The register belonged to the national AML regime, and its legal basis was removed from the Cyprus AML law in June 2025. Registered firms could keep serving clients only until 1 July 2026, or until CySEC decided on their MiCA application if that came first. We already hold a CIF licence. Do we need a separate CASP authorisation? Not necessarily. An investment firm can notify CySEC under Article 60 of MiCA and offer the crypto services that match its existing investment services. Services outside that match still need a full authorisation. Does holding stablecoins for clients need a payment licence too? CySEC's Circular C722 relays the EBA's view that custody and transfer of e-money tokens are payment services under PSD2, and that national authorities should allow until 1 March 2026 to get a payment licence or partner with a payment service provider. Exchanging crypto for money is not covered. How many CASPs has CySEC authorised so far? KPMG in Cyprus counted 12 on ESMA's interim MiCA register in June 2026, level with Ireland and behind Germany, the Netherlands, France and Malta. Can we start with Kraken Embed instead of our own authorisation? Kraken holds an EEA-wide MiCA authorisation from Ireland, but we have not confirmed that Kraken Embed is offered to Cyprus clients. Ask Kraken directly before you plan around it. Will MiCA change again soon? The European Commission ran a consultation on reviewing MiCA from 20 May to 31 August 2026. No new rules have been proposed yet, so build for the current text and keep your policies easy to update. Cyprus · CASP ## What you can offer under a CySEC CASP authorisation Tell us your licence and country. We will map the rails, providers and documents you need. [Request demo](https://crassula.io/request-demo/) [**Know what you pay**One setup fee and a monthly plan with accounts and transactions included.*See pricing →*](https://crassula.io/prices/) [**Start with the API**Documented endpoints for accounts, payments, cards and customers.*Explore the API →*](https://crassula.io/features/api/)