Virtual asset service provider (non-MiCA) · Cayman Islands

Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2) (Cayman Islands)

The Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2) is issued by Cayman Islands Monetary Authority (CIMA) under Virtual Asset (Service Providers) Act (2024 Revision). The application fee is KYD 5,000. Ownership changes need the regulator's approval before completion.

Last verified 2026-09-24Regulator CIMAMarkdown · Data (CC BY 4.0)
Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2): licenceVASP

At a glance

Official nameVirtual Asset Service Provider Licence (custody or trading platform services, Phase 2)1
Issued byCayman Islands Monetary Authority
JurisdictionCayman Islands
Licence familyVirtual asset service provider (non-MiCA)
Legal basisVirtual Asset (Service Providers) Act (2024 Revision)2
PassportingDomestic only
Application feeKYD 5,0003

What it lets you do

  • Custody and administration of crypto-assets. Safekeeping or controlling crypto-assets, or the means of access to them such as private keys, on behalf of clients.

Where it is valid

Cayman Islands licence, domesticCayman Islands
Valid in Cayman Islands.

Cost

Cost components, upper bound total KYD 5,000Application fee: KYD 5,000
Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model.

Buying a company that already holds it

Prior approval required. Under s.28(1) of the VASP Act, CIMA's prior approval is required before any issue or voluntary transfer of shares/interests reaching 10% or more of a VASP; the acquirer must file a Personal Questionnaire and fitness documentation. Acting without approval is an offence, and CIMA may also take action against the licence. Other CIMA-regulated entities (banks, trust companies, mutual fund administrators, securities licensees) face a stricter 0% threshold: any transfer needs prior approval.4

Ready-made companies holding this licence: see verified positions.

Laws behind it

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. cima.ky: vasp faq · retrieved 2026-09-24
  2. cima.ky: VirtualAssetServiceProvidersAct2024Revision 1716397271 (PDF) · retrieved 2026-09-24
  3. kpmg.com: vasps · secondary · retrieved 2026-09-24
  4. maples.com: cima change of control process a guide for cayman islands re · secondary · retrieved 2026-09-24

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