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Crypto licensing: from business model to licence and a working platform
Choose the model closest to your project. Each page covers the regulatory questions, regimes, scope of preparation and deliverables.
Business models
These are categories of client needs, not licence names. The same model may need different permits in different jurisdictions.
Digital asset exchange
Buying, selling and exchanging digital assets for clients: exchange services, online exchangers, in-app exchange.
Learn moreTrading platforms and exchanges
Venues where clients trade digital assets with each other through the operator's trading system.
Learn moreDigital asset custody
Safekeeping of client assets and keys; custody infrastructure for exchanges, exchangers and platforms.
Learn moreBrokerage and intermediary services
Executing client orders, agency models, access to foreign venues and liquidity.
Learn moreOther digital asset projects
Digital financial assets and tokenisation, digital mining, projects under the NBK special regulatory regime.
Learn morePayment and fintech solutions
Payment services linked to digital assets, e-money, payment apps and infrastructure.
Learn moreCrypto regimes outside Kazakhstan
MiCA authorisation in the EU and virtual asset regimes in the UAE, the UK, Switzerland, Hong Kong, Canada and offshore centres.
MiCA CASP authorisation
Authorisation of a crypto-asset service provider under MiCA in an EU Member State, with a passport to serve clients across the Union.
Learn moreInternational VASP licensing
Licence, registration or SRO membership for virtual asset businesses in the UAE, UK, Switzerland, Hong Kong, Canada and offshore centres.
Learn moreTwo regimes in Kazakhstan
Kazakhstan's national regime and the AIFC regime run in parallel, with different regulators, legal bases and statuses.
| Parameter | Kazakhstan national regime | AIFC |
|---|---|---|
| Regulator | National Bank of Kazakhstan; for digital financial assets (except stablecoins) — the ARDFM | Astana Financial Services Authority (AFSA) |
| Legal basis | Law of Kazakhstan on Digital Assets and NBK regulations | AIFC law, including the AIFC Rules on Digital Asset Activities |
| Exchange | NBK licence for exchange operations with unbacked digital assets | AFSA authorisation (licence for the relevant regulated activities) |
| Trading platform | Registration with the NBK, register of trading platform operators | AFSA licence for operating a digital asset trading facility |
| Digital financial assets | Registration of the DFA platform operator with the NBK | Under AIFC rules; issuing fiat stablecoins requires AFSA authorisation |
| Territory | Kazakhstan outside the AIFC | Astana International Financial Centre |
Information as of October 2026. The national regime has applied since 1 May 2026; the AIFC digital asset rules in their current version have applied since 1 January 2026.
Where every crypto project starts
Before drafting documents, we answer six questions about the model.
- 01
What services the client receives and who is the party to the transaction
- 02
Where client assets, keys and money are held
- 03
Who the clients are and where they are located
- 04
Which permits are needed under each regime considered
- 05
What the capital, management, staffing and technology requirements are
- 06
Which external partners are needed: bank, liquidity, KYC
Frequently asked questions
Describe your project in a few sentences. We will give you a substantive reply: which questions need answering and where to start.
Discuss your projectWhich page should I start with if my model is mixed?
Start with the one closest to it in substance. Mixed models are common, such as exchange with custody and a payment perimeter. During the assessment we analyse each component.
Can we operate under both regimes?
It is possible through separate structures, but each regime's requirements apply separately. The decision depends on clients, products and economics.
What if my model is not listed?
Describe the project in the enquiry form. We will determine whether a status exists for it under the current regimes.
Let us discuss your model and the right regime
Describe your project in a few sentences. We will give you a substantive reply: which questions need answering and where to start.