• CryptoWallet has successfully renewed its Estonian virtual asset provider license in a more competitive environment.
• The FIU has implemented tighter regulations to prevent financial crime and mitigate risk.
• CryptoWallet will be launching a crypto card later this year with the support of over 800 cryptocurrencies.

CryptoWallet Successfully Renewed Estonian License

CryptoWallet has managed to renew an Estonian virtual asset provider license despite stricter regulatory measures in the EU. Estonia’s Financial Intelligence Unit (FIU) granted CryptoWallet a stamp of approval for its application, making it one of few companies that have been able to successfully do so.

Tighter Regulatory Measures Implemented

In order to maintain compliance and transparency within the crypto space, new requirements have been set for virtual asset providers in Estonia. Companies are now required to hold a minimum of €250,000 in capital reserves compared to just €12,000 under the previous requirements. Other requirements include stringent KYC/AML checks, personal requirements for management board and personnel, as well as local presence in Estonia.

Crypto Wallet Will Launch a Crypto Card

With the renewed license, CryptoWallet can legally facilitate the storage, purchase and sale of digital assets on their platform which allows customers to buy, sell and spend crypto assets using a crypto card and SEPA compatibility. CryptoWallet will also be launching their own crypto card later this year supporting over 800 cryptocurrencies with native SPEND tokens as cashback earned through staking, referral and partnership programs.

Crypto Regulation Environment Becoming More Competitive

The competition for receiving an Estonian license is becoming increasingly competitive as only 55% of all virtual asset providers received one last year while 90% are exposed to losing their license or being forced to move to another jurisdiction according to CoinDesk data collected in 2022.


CryptoWallet’s COO Aleksander Smirnin concluded that receiving this sought-after license from the FIU is testament of years of hard work by their team and they look forward to growing their ecosystem with products that will enhance user’s lives even further than before.

Von admin