How to obtain a Swiss crypto license (SRO) for VASPs and payment services

Membership in a Swiss Self-Regulatory Organization (SRO), such as VQF or SOFIT, recognized by FINMA, is a mandatory requirement for companies providing virtual asset services (VASPs) and payment solutions (PSPs). This membership ensures compliance with strict anti-money laundering (AML) and counter-terrorist financing (CTF) standards under Swiss law. Although SRO members are not subject to direct supervision by FINMA, the organization closely monitors their AML/CTF compliance.

SRO membership is often referred to as a "crypto license," "VASP license," or "AML registration." This status allows companies to conduct a wide range of financial and cryptocurrency transactions within the transparent and stable framework of Swiss regulation.

Main Permitted Activities

As a member, companies may provide the following financial services: currency exchange (Fiat ⇄ Fiat, Fiat ⇄ Crypto), loan transactions, lending, crowdfunding, issuing electronic money and payment cards, and trading in commodities and precious metals.

The following activities are permitted for VASPs: crypto asset storage, provision of wallets (individual and omnibus), operation of centralized exchanges (CEX), brokerage and market-making services, cryptocurrency transfers, staking, cryptocurrency lending, and issuing stablecoins. However, transactions with securities and derivatives are generally excluded.

Deposit Acceptance and Payment Processing

Deposits from the public are regulated by the Federal Banking Act (BA) and are permitted up to CHF 1 million in sandbox mode. Exceptions are possible provided that the funds are used exclusively for currency exchange or settlement of client transactions and with a guarantee from a Swiss bank.

As a payment service provider (PSP), a company can act as an intermediary in transaction processing and interact with Swiss, EU/EEA, and international banks. It is also possible to obtain a BIN and issue payment cards under its own brand, which requires separate approval from payment systems.

Membership Process

• Company registration in Switzerland and preparation of a business plan (up to 4 weeks).
• Application to the selected SRO and document collection (approximately 1 week).
• SRO membership review and approval (1-3 months).

Before launching a business, it is necessary to implement IT systems for KYC/AML and CTF.

Jurisdictional Advantages

Switzerland is a recognized global center for the crypto industry with a stable legal framework, transparent regulation, and favorable taxation (in the canton of Zug, the corporate tax rate is only 11.85%). SRO membership strengthens the trust of clients and partners by providing a legal basis for providing crypto and payment services.

SRO membership costs CHF 23,000 (excluding VAT and third-party fees).

If you need company registration, administration, or support, IT-OFFSHORE specialists will be happy to assist you with every step of setting up and launching your Swiss crypto business.