Crassula logo Request demo

Crypto banking for crypto-asset service providers licensed by the Bank of Lithuania

Lithuania once had hundreds of crypto firms on a light national register. That era ended on 31 December 2025, and only a handful of MiCA licences had been granted by January 2026. The Bank of Lithuania keeps rejecting weak IT and operational risk set-ups, so build yours on a working platform.

Request demo Crypto Banking →
Case Studies

See what teams build with Crassula.

Crypto Banking · CASP

What a Bank of Lithuania CASP licence lets you offer

Custody and administration of crypto

Crypto accounts with their own deposit addresses and QR codes. The keys run on custody infrastructure you contract, and your company is the custodian under MiCA.

Exchange against euro and between coins

Clients convert crypto to euro or to other crypto with liquidity from a connected provider, with the rate and fee on screen before they confirm.

Euro accounts and transfers

IBAN accounts through your banking partner with SEPA, SEPA Instant and SWIFT, on the same ledger as the crypto positions.

Transfers with Travel Rule data

Internal transfers and on-chain withdrawals. Originator and beneficiary details go through a connected Travel Rule provider.

Clients in other EEA countries

A Lithuanian licence comes with the MiCA passport, so after notification you serve clients across the EEA from the same apps.

What this licence does not cover

  • Carrying on as a registered VASP. The transition ended on 31 December 2025, and unlicensed crypto services are now illegal financial activity under the Criminal Code.
  • Issuing e-money tokens. That needs a credit institution or e-money institution licence.
  • Lending or deposit taking.
Your market

What the regulator asks about your IT

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

1IT and operational risk management, one of the weak points the Bank of Lithuania found in 2025 applications

Architecture, hosting, access roles, 2FA, audit trail, backups and incident handling documented on a platform the reviewers can see working.

Crassula drafts, you adopt
2ICT risk and third-party register under DORA

The details on our service, locations and sub-providers that your register of ICT third-party arrangements needs.

You, with our input
3Register of positions per client and segregation (Art. 75 MiCA)

Crypto per client on ledger accounts kept apart from your own, with exports to reconcile against your wallets.

Your operations team, on platform data
4Custody policy and withdrawal controls

Approval flows and access roles set up in the back office and described as they run.

You, with input from us and the custody provider
5Client funds held with a credit institution or central bank (Art. 70 MiCA)

Euro balances owed to each client on the ledger, ready to reconcile with your client funds account.

Your finance team, on platform data
6AML/CTF framework under the Lithuanian Law on the Prevention of Money Laundering

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

Your AML officer
7Travel Rule under Regulation (EU) 2023/1113

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

Your AML officer
8Outsourcing of critical or important functions

Service description, contract terms, audit and access rights, exit support.

You, with our input
Lithuania

Payment rails and providers

Rails your customers can use

SEPASEPA InstantSWIFTOn-chain transfersInternal transfers

Kraken

Holds a MiCA authorisation from the Central Bank of Ireland that covers the EEA. Liquidity for your exchange service. Ask Kraken whether Kraken Embed is available for Lithuanian clients.

Prefer another provider?

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

Explore all connectors →
24/7real-time processing, no batch window
60+payment and provider integrations connected
150+companies run on Crassula
15+languages the platform speaks
Lithuania

Dates to plan around

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

  1. 11 Jul 2024

    The Seimas adopts the Law on Markets in Crypto-Assets, making the Bank of Lithuania the licensing authority. The transition was first planned to run until June 2025.

  2. 30 Dec 2024

    MiCA applies to CASPs, together with the crypto Travel Rule under Regulation (EU) 2023/1113.

  3. 17 Jan 2025

    DORA applies to crypto-asset service providers.

  4. Jun 2025

    Robinhood Europe UAB is reported as the first firm to hold a Bank of Lithuania CASP licence and starts passporting its crypto services.

  5. 31 Dec 2025

    The extended transition ends. VASPs without a MiCA licence lose the right to operate in Lithuania.

CASP

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

In 2025 the Bank of Lithuania received 102 applications and pointed to the same gaps again and again, including weak IT and operational risk management and companies with no real substance. 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

    IT and operational risk, DORA, outsourcing and business continuity sections of your Bank of Lithuania file.

  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

Imagine a Vilnius company that ran a crypto exchange app on the old register and wound down its Lithuanian service at the end of 2025 while its MiCA file was still under review. Its shareholders want to come back with a licence, a local management team and a cleaner product. The Bank of Lithuania's feedback was blunt: unclear sources of funds, thin governance, and IT documentation that did not match what the company actually ran.

For the new file, we set up the environment in its brand with Kraken liquidity and the custody infrastructure it contracts, and write the IT, operational risk and DORA sections around the system it will really use. Its operations team rehearses the per-client reconciliation on test data. Once licensed, it reopens to former clients and, with a passport notification, to clients in other EEA countries.

For the regulatory background, read our guide to the Lithuanian CASP licence and the MiCA CASP licence guide.

Guides

Read the licence guides

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

FAQ

The questions teams ask us before a first call.

Not covered here?Bring your question to a demo with our team.
What happened to firms on the Lithuanian VASP register?
The register was an anti-money laundering registration, with the Financial Crime Investigation Service as supervisor. MiCA replaced it. After 31 December 2025, firms without a Bank of Lithuania licence or a passport from another member state lost the right to operate.
Why do so many Lithuanian applications fail?
The Bank of Lithuania listed recurring problems: shareholders and sources of funds not clearly shown, weak management and governance, poor AML/CTF documents, weak IT and operational risk management, and empty shell companies without real substance.
How long does the Bank of Lithuania take?
MiCA sets 25 working days to check completeness and 40 working days to decide, with up to 20 working days of suspension for further questions. Files with gaps take far longer, because the clock only runs on a complete application.
How much capital do we need?
EUR 125,000 for custody and exchange (class 2), EUR 150,000 for a trading platform (class 3), or a quarter of last year's fixed overheads if that is higher.
Can we use Kraken Embed in Lithuania?
Its public launch with bunq covered the Netherlands, France, Spain, Ireland, Italy and Belgium, not Lithuania. Check with Kraken before you plan on it, and with your lawyers whether your own role then needs a licence.
Does Crassula hold our clients' crypto?
No. Crassula is the software for accounts, exchange, apps and back office. Keys sit with the custody infrastructure you contract, and your company answers for custody to clients and the Bank of Lithuania.
Crypto Banking

Explore your launch market

Lithuania · CASP

What a Bank of Lithuania CASP licence lets you offer

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

Request demo
Know what you payOne setup fee and a monthly plan with accounts and transactions included.See pricing → Start with the APIDocumented endpoints for accounts, payments, cards and customers.Explore the API →
Top