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Crypto banking for crypto-asset service providers authorised by the Central Bank of Ireland

Ireland cut the MiCA transition to twelve months, and VASP registrations stopped counting on 30 December 2025. The Central Bank expects an Irish board in full control of client assets, and says an assessment takes at least ten months. Use that time to build on a platform that already runs.

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Crypto Banking · CASP

What a Central Bank of Ireland CASP authorisation lets you offer

Custody your Irish entity controls

Each client gets crypto accounts with deposit addresses and QR codes. Wallets run on custody infrastructure contracted by your Irish company, and withdrawal approvals follow the roles you set in the back office.

Exchange of crypto and euro

Buy, sell and swap with liquidity from a connected provider. The client sees the rate and fee first, and euro proceeds land in their account in the same app.

Euro accounts beside crypto

IBAN accounts with SEPA, SEPA Instant and SWIFT through your banking partner, posted to the same ledger as each client's crypto.

Crypto transfers

Internal transfers and on-chain withdrawals, with Travel Rule data exchanged through a connected provider.

Crypto-linked cards

Visa and Mastercard cards that spend crypto-linked balances, settled in euro at the point of sale. You sign with the card issuer.

What this licence does not cover

  • Operating on a VASP registration. Since 30 December 2025 a registered VASP without CASP authorisation must not provide crypto services in Ireland.
  • Issuing e-money tokens. MiCA keeps those for credit institutions and e-money institutions.
  • Taking deposits or lending.
Your market

What the regulator asks about your IT

Each requirement, what the platform gives you for it and who owns it after launch.

1Full control of client assets by the local firm, with segregation, reconciliation and prompt access

Client and own holdings on separate ledger accounts, every movement posted, and exports your team reconciles against the wallets daily.

Your Irish operations team, on platform data
2Register of positions per client and custody policy (Art. 75 MiCA)

Holdings per client on the ledger, plus a description of withdrawal approvals and access roles as they run on the platform.

You, with input from us and the custody provider
3Local crypto-competent executive and board with real oversight

Back-office access, approval rights and reporting your executives use themselves, plus walkthroughs before your Central Bank meetings.

Your board
4ICT systems and security arrangements, including DORA

Technical documentation of architecture, hosting, access roles, 2FA, audit trail, backups and incident handling.

Crassula drafts, you adopt
5Outsourcing of critical or important functions

Service description, contract terms, audit and access rights, sub-providers and exit support, so your Irish entity keeps control of what it outsources.

You, with our input
6Plan for an orderly wind-down and timely return of client assets (Art. 74 MiCA)

Exports of every client's crypto and euro positions, so a wind-down plan can show how assets would be returned.

You
7Customer due diligence under Irish anti-money laundering law

Onboarding questionnaires per client type, identity checks and screening through connected providers, client limits.

Your MLRO
8Travel Rule under Regulation (EU) 2023/1113

Originator and beneficiary data captured at onboarding and on each transfer, exchanged through a connected Travel Rule provider.

Your MLRO
Ireland

Payment rails and providers

Rails your customers can use

SEPASEPA InstantSWIFTOn-chain transfersInternal transfers

Kraken

Authorised as a CASP by the Central Bank of Ireland, with its MiCA licence passported across the EEA. Liquidity for your exchange service, or Kraken Embed, which launched in Ireland with bunq, as a first step.

Prefer another provider?

Crassula connects 60+ payment, banking and compliance integrations. We will check which ones fit your licence.

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Ireland

Dates to plan around

Rules that change what you have to build, in the order they apply.

  1. 30 Dec 2024

    MiCA applies to CASPs, together with the crypto Travel Rule under Regulation (EU) 2023/1113. Ireland's twelve-month transition begins for registered VASPs.

  2. 17 Jan 2025

    DORA applies to crypto-asset service providers.

  3. 30 Dec 2025

    The Irish transition ends. VASPs without a CASP authorisation have to stop providing services.

  4. 10 months

    The minimum time the Central Bank says it needs to complete a CASP assessment for a registered VASP. Plan new applications with that in mind.

CASP

Applying to the Central Bank of Ireland as a CASP? Name us in your application.

The Central Bank wants to see an Irish firm that controls its own systems and client assets, not a branch run from abroad. We give you a working platform and the technical part of the file, while your legal advisers handle the rest.

Talk to us about your application

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 and business continuity sections, plus data for your wind-down plan.

  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.
Crypto Banking

How a launch usually runs

Consider a Dublin fintech that runs euro accounts for small businesses and now wants to let them hold stablecoins and bitcoin. Before anything is filed, it contacts the Central Bank's Innovation Hub and presents the business model. The Central Bank has also said it would publish a Key Facts Document template for applicants, so the team checks what that template now asks for.

While the assessment runs, we set up the environment in its brand with Kraken liquidity and the custody infrastructure it chose, and draft the ICT, DORA and outsourcing sections with the team. Its Irish executives approve withdrawals and run daily reconciliations themselves on test data, so they can show the Central Bank they are in charge. Once authorised, the business clients see a crypto tab next to their euro account.

For the regulatory background, read the MiCA CASP licence guide and our article on what crypto banking is.

Guides

Read the licence guides

Explore all guidesLicensing, payments, cards and core banking, explained by our team.
Ireland · CASP

FAQ

The questions teams ask us before a first call.

Not covered here?Bring your question to a demo with our team.
Does our VASP registration help with the CASP application?
Not much. The Central Bank says a VASP registration gives no indication of the CASP outcome and does not lead to a simplified assessment. Your supervisory history is taken into account, but you file a full application.
How long does the Central Bank take?
The Central Bank has said it needs at least ten months to complete the assessment of a registered VASP. The MiCA clock of 25 working days for completeness and 40 for the decision starts only once the file is complete.
How much substance does Ireland expect?
The Central Bank expects substance and autonomy in Ireland, led by a local executive and board who understand crypto. Decisions on client assets, risk and outsourcing have to be taken by the Irish entity.
How much capital do we need?
MiCA sets EUR 125,000 for custody and exchange (class 2) and EUR 150,000 for a trading platform (class 3). If a quarter of last year's fixed overheads is higher, that figure applies.
Can we start with Kraken Embed?
Kraken is authorised in Ireland, and Embed launched here with bunq, so availability is not the question. What you need is legal advice that your own role stays outside MiCA while Kraken executes and holds the assets.
Does Crassula hold our clients' crypto?
No. Crassula provides the software for accounts, exchange, apps and back office. Keys sit in the custody infrastructure your Irish entity contracts, and you are the custodian towards clients and the Central Bank.
Crypto Banking

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Ireland · CASP

What a Central Bank of Ireland CASP authorisation lets you offer

Tell us your licence and country. We will map the rails, providers and documents you need.

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