Crypto company formation costs
Crypto company formation costs depend entirely on the country of domicile and the type of service being offered. GBO can prepare a detailed quotation outlining every company’s formation and licensing aspect.
Why choose the Lithuania crypto license?
Lithuania is one of the EU’s most advanced digital finance environments. It has the second-largest number of Electronic Money Institutions (only the UK has more.) In terms of the relative importance of digital banking, Lithuania is much bigger than others in the EU.
What are the basic requirements for obtaining a crypto exchange license in the EU?
GBO can work with you to set up a crypto exchange in the right country in about 6-10 weeks.
The basic steps are:
- Registration of a private limited company
- Preparation of company documentation (Act of incorporation, Articles of association)
- Preparation of license documents (AML /KYC / CTF) and details of the Ultimate Beneficial Owners (UBOs)
- Application for the crypto license
What are the main kinds of crypto wallets businesses in the EU provide?
There are four kinds of wallets. The choice of which one a business needs depends heavily on the type of transactions and the required level of safety.
Software wallets allow customers to manage their online crypto assets themselves. The wallets (also called online, mobile, desktop, and hot wallets) use cryptographic keys stored on a connectable device that has access to the Internet. They provide easier access but may be vulnerable to hacking.
Cold wallets (also known as hardware wallets) are stored on a physical device that has no access to the Internet.
Hosted wallets represent a digital record of crypto assets and are stored on a secure third-party web server. They can be linked to the user’s account. Like hot wallets, they are easier to use but more vulnerable to hacking.
Decentralized wallets are a type of hosted wallet that reduces the security risks associated with hosted wallets. It doesn’t require a third-party service to transact or store the cryptocurrency.