Crypto and Web3 firms in Cyprus face restricted banking. Mainstream Cyprus banks and most digital providers do not openly serve businesses whose main activity is crypto, and from 1 July 2026 only firms with a CySEC issued CASP licence under MiCA may provide crypto asset services from a Cyprus base. Treat availability as limited and verify with each provider.
Banking availability
Limited. Mainstream banks and digital providers generally restrict or decline crypto primary businesses. Unclear, verify with the provider.
Regulatory status
Crypto asset services from Cyprus require a CySEC CASP licence under MiCA from 1 July 2026. As of 4 December 2025.
Typical monthly fee
Not meaningfully standardised, because mainstream accounts are often unavailable to crypto primary firms. Verify with the provider.
Providers that fit
Few openly serve crypto primary activity. General business banking may suit non crypto operations only.
Fees and features as of 4 December 2025Last reviewed 4 December 2025
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Crypto and Web3 businesses in Cyprus operate in a tightly regulated and banking restricted environment. Under the European Union Markets in Crypto Assets regulation, known as MiCA, a firm providing crypto asset services from a Cyprus base needs a CASP licence issued by the Cyprus Securities and Exchange Commission, CySEC, and from 1 July 2026 only licensed CASPs may operate, with the former local registration regime closed. Separately, mainstream Cyprus banks and most digital providers such as Revolut Business and Wise Business generally do not serve businesses whose main activity is buying, selling, or holding crypto for customers, and they may close accounts found to be doing so. This page explains the position rather than promising an account. Availability is limited, so verify directly with each provider and take regulated advice. As of 4 December 2025.
What Crypto and Web3 firms in Cyprus face with banking
A crypto or Web3 firm in Cyprus has two separate hurdles. The first is licensing: providing crypto asset services from Cyprus requires a CySEC CASP licence under MiCA, which sets minimum capital by class and covers governance, anti money laundering, and conduct rules. The second is banking access: even a licensed firm often struggles to open a mainstream business account, because banks and electronic money providers apply strict policies to crypto exposure and frequently decline or offboard crypto primary customers. Many firms therefore separate a regulated, audited operating structure from any crypto custody, use specialist banking that they verify carefully, and keep clear source of funds records. None of the mainstream providers below should be assumed to accept crypto primary activity. As of 4 December 2025.
R
Revolut Business
A general business account that does not serve businesses whose main activity is crypto. May suit a related non crypto operating company only. Verify eligibility.
Best for
Non crypto operations only
Monthly fee
Free Basic plan, paid plans from about EUR 10 a month
A local Cyprus bank that applies strict policies to crypto exposure and commonly declines crypto primary firms. Position is unclear case by case, verify with the bank.
Best for
Unclear, verify with the bank
Monthly fee
Monthly fee, varies by account; verify with the bank
Compare accounts for Crypto and Web3 in Cyprus
Mainstream providers generally do not serve crypto primary businesses in Cyprus. The comparison below is for general business banking needs only, and any crypto activity must be confirmed with the provider. Fees and eligibility shown as of 4 December 2025.
Questions about banking for Crypto and Web3 firms in Cyprus
Can a crypto business open a bank account in Cyprus?
It is difficult. Mainstream Cyprus banks and most digital providers generally do not serve businesses whose main activity is crypto, and may offboard accounts found to be doing so. Some firms use specialist banking, which should be verified carefully. Availability is limited, so confirm directly with each provider. As of 4 December 2025. This is general information, not advice.
Do crypto firms in Cyprus need a CASP licence?
Yes, to provide crypto asset services from a Cyprus base. Under MiCA, a CASP licence is issued by CySEC, and from 1 July 2026 only licensed CASPs may operate from Cyprus, with the former local registration regime closed. Take regulated advice on whether your activity is in scope. As of 4 December 2025.
Will mainstream providers like Revolut or Wise accept a crypto company in Cyprus?
Generally not for crypto primary activity. Both restrict crypto related businesses and may decline or close accounts whose main activity is crypto. A related operating company with non crypto activity is a different case, but eligibility must be confirmed with the provider. As of 4 December 2025.
What does a crypto firm in Cyprus need to improve its banking chances?
Typically a clear regulated structure, a CASP licence where in scope, strong anti money laundering controls, audited accounts, and detailed source of funds records, often with crypto custody separated from the operating company. Even then, mainstream banking is not guaranteed. As of 4 December 2025. Verify with the provider and take regulated advice.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 4 December 2025. Confirm current terms with the provider before applying.