--- title: "Crypto Banking for Maltese CASPs | MFSA MiCA Licence" description: "White-label crypto banking for MiCA CASPs in Malta: per-client crypto ledger, euro accounts, Kraken liquidity and systems ready for MFSA checks." url: "https://crassula.io/solutions/crypto-banking/malta-casp/" lang: "en" image: "https://crassula.io/static/images/og/crassula-default.d7d01fb8a962.jpg" alternates: "en": "https://crassula.io/solutions/crypto-banking/malta-casp/" "de": "https://crassula.io/de/solutions/crypto-banking/malta-casp/" "es": "https://crassula.io/es/solutions/crypto-banking/malta-casp/" "fr": "https://crassula.io/fr/solutions/crypto-banking/malta-casp/" "x-default": "https://crassula.io/solutions/crypto-banking/malta-casp/" index: "https://crassula.io/llms.txt" --- Malta · CASP # Crypto banking for crypto-asset service providers licensed by the MFSA Malta's VFA transitional measures expired on 30 June 2026, so crypto firms there now operate on a MiCA licence or not at all. Before the MFSA issues your commencement of business letter, your board must declare the systems tested and implemented. Start on a platform that already runs. [Request demo](https://crassula.io/request-demo/) [Crypto Banking →](https://crassula.io/solutions/crypto-banking/) Your market**Malta**CASP - Per-client crypto and fiat ledger - Liquidity via Kraken - Systems ready for the MFSA's pre-commencement checks - Input for your MiCA outsourcing notification Rails your customers can use **SEPA****SEPA Instant****SWIFT****On-chain transfers****Internal transfers** What the regulator asks about your IT**8** ![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 an MFSA CASP licence lets you offer ### Crypto accounts and deposit addresses Each client gets crypto accounts with their own deposit address and QR code, so top-ups in stablecoins or other crypto arrive without leaving your app. ### Exchange against euro and other crypto Buy, sell and swap with liquidity from a connected provider, with the rate and fee shown up front. ### Euro accounts with client money kept apart IBAN accounts and SEPA, SEPA Instant and SWIFT transfers through your banking partner. The ledger tracks the fiat owed to each client against the accounts you hold only for client funds. ### Crypto transfers Internal transfers and on-chain withdrawals, with Travel Rule data and self-hosted wallet checks handled through a connected provider. ### Onboarding clients from closed providers Questionnaires and identity checks through connected providers for clients moving over from VASPs that wound down at the end of the transition. ### Clients across the EU After notifying your passport you can serve clients in other member states from the same platform and apps. ### What this licence does not cover - Operating on a VFA licence. Its transitional measures expired on 30 June 2026. - Handing custody to a firm that is not an authorised CASP. The MFSA reminded licence holders of this prohibition in June 2026. - Issuing e-money tokens. Under MiCA that is reserved for credit institutions and e-money institutions. 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 Board declaration that systems are tested and implemented, before the commencement of business letter A configured live environment, test runs and walkthroughs your board can rely on before it signs. Your board, with our input 2 MiCA Outsourcing Notification Form, filed at least 60 calendar days before outsourcing a critical or important function Service description, hosting locations, sub-providers and exit support to complete the form. You, with our input 3 Executed engagement letters for outsourced functions (pre-licensing condition) Our contract and service terms, ready to sign once you hold in-principle approval. You 4 ICT systems and security arrangements, including DORA Technical documentation of the architecture, access roles, 2FA, audit trail, backups and incident handling. Crassula drafts, you adopt 5 Register of positions per client and segregation (Art. 75 MiCA) Crypto holdings per client on the ledger, client and own accounts kept apart, exports to reconcile against your wallets. Your operations team, on platform data 6 Custody kept in-house or with an authorised CASP The platform holds no keys. Wallets run on custody infrastructure you control, or with an authorised CASP. You 7 Client funds in accounts used only to safeguard them Fiat owed to each client on the ledger, with exports to reconcile against the safeguarding accounts at your credit institution. Your finance team, on platform data 8 Customer due diligence under FIAU Implementing Procedures, including clients migrating from another provider Onboarding questionnaires per client type, identity checks through connected providers, client limits. Your MLRO Malta ## 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 and can offer regulated services across the EEA. Liquidity for your exchange service, or Kraken Embed if you want to start before your own licence. ### [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 Malta ## Dates to plan around Rules that change what you have to build, in the order they apply. 1. **30 Dec 2024** MiCA rules for CASPs apply, together with the crypto Travel Rule under Regulation (EU) 2023/1113. 2. **17 Jan 2025** DORA applies to crypto-asset service providers. 3. **25 Jun 2026** The MFSA writes to VFA licence holders: operational VASPs without a CASP licence must wind down in an orderly way. 4. **30 Jun 2026** Transitional measures under Article 66 of the VFA Act expire. From 1 July, clients of VASPs no longer have MiCA protections. 5. **6 months** Time allowed after an MFSA in-principle approval letter to meet the pre-licensing conditions, unless the MFSA grants an extension. CASP ## Applying to the MFSA as a CASP? Name us in your application. The MFSA checks your systems twice: in the application, and again before you may start business. We give you a working platform and the technical documentation for both stages, while your legal advisers handle the rest. [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 and DORA, outsourcing and business continuity sections, plus input for the MFSA outsourcing notification. 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 ## How a launch usually runs Take a team in Sliema that has just received its in-principle approval letter from the MFSA for custody and exchange. The clock is running: six months to meet the pre-licensing conditions, including signed engagement letters for outsourced functions and key staff in place. We sign the service agreement, configure the environment in its brand with Kraken liquidity and the custody set-up it chose, and supply the details for its MiCA outsourcing notification. Once the licence is issued, the team runs test cycles on the live configuration, so the board can sign the declaration that systems are tested and implemented. With the commencement letter in hand it opens onboarding, including clients arriving from VASPs that closed at the end of June 2026, whose due diligence its MLRO reviews under the FIAU rules. For the regulatory background, read our [guide to Malta's VFA to MiCA transition](https://crassula.io/guides/licenses/malta-vfa-mica/) and the [MiCA CASP licence guide](https://crassula.io/guides/licenses/mica-casp/). Guides ## Read the licence guides ![Malta VFA to MiCA Transition in 2026: The Complete Guide](https://crassula.io/static/images/guides/malta-vfa-mica/malta-cross-coin-preview-960.83c353e20b37.jpg) ### [Malta VFA to MiCA Transition in 2026: The Complete Guide](https://crassula.io/guides/licenses/malta-vfa-mica/) ![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/) ![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/) ![Crypto Exchange Software in 2026: Build vs Buy Playbook](https://crassula.io/static/images/guides/crypto-exchange-software/crypto-matching-engine-preview-960.01e092459f2e.jpg) ### [Crypto Exchange Software in 2026: Build vs Buy Playbook](https://crassula.io/solutions/crypto-banking/guides/crypto-exchange-software/) [**Explore all guides**Licensing, payments, cards and core banking, explained by our team.](https://crassula.io/guides/) Malta · 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/) What happens after the MFSA's in-principle approval? You get up to six months to meet the pre-licensing conditions, such as final documents, recruited key function holders, proof of capital and signed engagement letters for outsourced functions. After the licence, the MFSA sets pre-commencement requirements, including a board declaration that your systems are tested, before it issues the commencement of business letter. Do we have to notify the MFSA that we use Crassula? If the platform supports a critical or important operational function, the MFSA rulebook asks for a MiCA Outsourcing Notification Form at least 60 calendar days before the arrangement starts. We provide the information you need to complete it. Can custody sit with a provider? Only with care. In June 2026 the MFSA reminded CASPs that custody may not be outsourced or delegated to firms that are not authorised CASPs. Crassula never holds keys: you run custody on infrastructure you control, or with an authorised CASP. How long does the MFSA take? MiCA sets 25 working days for the completeness check and 40 working days for the decision, with up to 20 working days of suspension when the MFSA asks for more information. In-principle approval, pre-licensing conditions and pre-commencement checks come on top. Can we onboard clients from a VASP that wound down? Yes, but the MFSA has asked for special attention here. If you want to rely on the data and documents another firm collected, follow section 4.6.6 of the FIAU Implementing Procedures. How much capital do we need? EUR 125,000 for custody and exchange (class 2) and EUR 150,000 if you run a trading platform (class 3), or a quarter of last year's fixed overheads if that is higher. Can we start under Kraken Embed instead? Kraken holds a MiCA authorisation from Ireland and markets Embed to banks and fintechs that keep the front end while Kraken handles execution. Its first launch, with bunq, did not include Malta, so confirm availability with Kraken and the legal position with your advisers. Malta · CASP ## What an MFSA CASP licence lets you offer 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/)