Securing reliable banking is one of the biggest challenges for crypto companies entering regulated markets. Even though the industry is maturing, many financial institutions still avoid working with unlicensed or high-risk virtual asset service providers (VASPs). However, licensed VASPs operating under clear regulatory frameworks such as MiCA, AMLD, or national licensing regimes have significantly better access to banking partners.
This guide explains how banking for crypto companies works in 2026, which banks are open to licensed VASPs, and what compliance requirements they typically expect.
Why Banking Is Difficult for Crypto Businesses
Traditional banks assess crypto firms through a risk-based lens. Because of fraud risks, volatility, and historical AML failures in the sector, many institutions refuse cooperation with unregulated entities. Common obstacles include:
- Limited understanding of blockchain risks
- Compliance fears related to AML and sanctions
- Lack of transparency about client funds
- Poor governance or technical controls in early-stage projects
However, once a crypto company is licensed, the risk profile changes dramatically. A regulated VASP has established governance, AML processes, custody frameworks, and reporting standards — making banking onboarding significantly easier.
Why Licensed VASPs Are More Readily Accepted by Banks
Banks increasingly prefer working with entities that operate under MiCA, FINMA, ČNB, BaFin, or other EU regulatory frameworks. Licensed VASPs offer:
1. Verified corporate governance
Banks rely on documented structures, approved directors, MLRO/AML Officers, and internal controls.
2. Strong AML/CTF frameworks
Including CDD, EDD, ongoing monitoring, SAR filing, and transaction-risk screening.
3. Audited custody and safeguarding rules
Licensed firms must segregate client assets, manage private-key security, and follow ICT protection standards.
4. Regulatory reporting
Regular submission of compliance, risk, and financial reports builds trust.
5. Lower reputational risk
Banks prefer clients supervised by EU regulators because oversight reduces uncertainty.
As a result, banking for crypto companies becomes far more accessible once regulatory licensing is in place.
What Banks Accept Licensed VASPs in 2026
While each institution has its own onboarding policy, the following categories of banks are known to work with licensed crypto companies.
1. European Challenger Banks & Fintech Banks
Modern fintech banks are typically the most VASP-friendly, especially when dealing with fully licensed CASPs under MiCA.
Examples include:
- Bank Frick (Liechtenstein) – one of the earliest banks to onboard crypto businesses
- Revolut Business (selected jurisdictions) – accepts some licensed VASPs
- LHV Bank (Estonia) – strong focus on fintech and blockchain clients
- ClearBank (UK) – works with regulated digital-asset companies
- SEBA Bank (Switzerland) – crypto-native bank for licensed entities
These banks are accustomed to blockchain-related risk assessments and offer multi-currency accounts, SEPA, SWIFT, and payment rails.
2. Swiss Crypto-Friendly Banks
Switzerland remains one of the most crypto-supportive jurisdictions. Banks operating under FINMA supervision often accept VASPs with strong compliance:
- SEBA Bank
- Sygnum Bank
- Julius Baer (select cases)
- Arab Bank Switzerland
Because Swiss banks have extensive experience with AML onboarding for digital assets, they remain a popular choice for European CASPs.
3. Central European Banking Options
Several ČNB- and EU-supervised banks have slowly opened their doors to licensed crypto companies:
- Česká spořitelna (Czech Republic) – case-by-case onboarding
- ČSOB – prefers MiCA-licensed entities
- Raiffeisen Bank – accepts regulated fintech and payment institutions
- Fio Banka – selective VASP onboarding under strict AML review
With MiCA coming into force, the region’s acceptance level is steadily increasing.
4. EMI Institutions & Payment Banks
Not traditional banks, but extremely useful for operational payments:
- Verto
- SatchelPay
- Paynetics
- NexPay
- UAB fintech EMIs across Lithuania
EMIs generally require detailed AML documentation but are open to working with compliant, licensed VASPs.
Banking Requirements for Licensed VASPs
Even with a crypto license, banks require extensive documentation, including:
- Detailed AML/CFT policies;
- Transaction monitoring methodology;
- Overview of source of funds and business model;
- Proof of regulatory authorisation, such as MiCA, a national VASP licence, etc.;
- Organisational structure and checks of key personnel;
- Client onboarding and risk scoring framework;
- Custody model and private key management procedures.
Banks also expect transparency regarding customers, geographies, blockchain analytics providers (e.g., Chainalysis), and SAR procedures.
What Improves Banking Acceptance Rates?
Licensed VASPs increase their approval chances when they also have:
- A clear risk-based approach (RBA)
- Independent AML audits
- Strong cybersecurity controls
- Insurance or safekeeping arrangements
- Stable transaction flows and predictable volume
Banks favor professional, well-documented, transparent operations.
AMS Europe can help licensed VASPs, CASPs and crypto businesses prepare the required banking documents, AML/KYC materials, business model explanation and compliance package for bank or EMI onboarding.
Conclusion
Banking for crypto companies has become significantly easier for licensed VASPs, especially under harmonized EU rules such as MiCA. While unlicensed or lightly regulated projects face major barriers, a fully licensed CASP enjoys access to fintech banks, Swiss institutions, and increasingly traditional EU banks.
For any crypto business planning long-term scalability, obtaining the appropriate license is the key to unlocking reliable banking, payment infrastructure, and institutional partnerships.
FAQ: Banking for Crypto Companies & Licensed VASPs
Why do crypto companies struggle to open bank accounts?
Traditional banks view digital-asset businesses as high-risk due to AML concerns, fraud exposure, and limited transparency. Without a regulatory license, many VASPs lack documented governance, audited custody procedures, or compliant AML frameworks — making banks hesitant to onboard them.
Do licensed VASPs have better access to banking?
Yes. Licensed VASPs operating under MiCA, FINMA, or national regulatory regimes undergo strict supervision. Banks prefer these companies because they demonstrate robust AML/CTF controls, segregation of client assets, and strong governance. Licensing significantly improves onboarding success rates.
Which European banks work with licensed crypto companies?
Crypto-friendly options include Bank Frick, LHV Bank, ClearBank, Sygnum, SEBA Bank, and several ČNB- and EU-regulated institutions such as Česká spořitelna, Raiffeisen Bank, and ČSOB. Many EMIs, like Paynetics and NexPay, also accept regulated VASPs.
What documents do banks require from licensed VASPs?
Banks typically request:
- AML/CTF policies and risk-based approach;
- transaction monitoring and blockchain analytics details;
- proof of licensing (MiCA or local VASP license);
- governance, management, and ownership structure;
- customer onboarding procedures (CDD, EDD);
- custody and key-management methodology;
- financial statements and business plan.
Can unlicensed crypto companies still get a bank account?
It is possible, but significantly harder. Most banks require at least VASP registration or preliminary regulatory oversight. Without this, onboarding is limited to a small number of high-risk EMIs and specialised fintech institutions.
