What types of crypto licenses are available in SVG Islands?

One of the key offshore locations for VASP registration, Saint Vincent and the Grenadines, offers a favorable legal framework for cryptocurrency businesses. The flexibility allows for multiple business types under the same umbrella, a sole SVG VASP registration. If you want to register a blockchain company in SVG, this article will cover everything you need to know. 

There are 3 major types of crypto licenses available in St. Vincent and the Grenadines (SVG). These include the International Business Company (IBC) license, which allows crypto exchanges and wallet services, the Money Services Business (MSB) license for broader financial operations, and a Custom Regulatory Structure depending on your crypto activity. SVG is popular due to its fast registration and relaxed regulatory structure, but lacks a specific crypto license framework.

What you’ll learn in this article:

You’ll discover the different types of crypto licenses available in SVG.
Understand the legal structure and regulatory flexibility SVG offers.
Get insights into which license suits your crypto business model.

Excerpt of What Types of Crypto Licenses Are Available in SVG Islands?

St. Vincent and the Grenadines (SVG) has become a hotspot for launching crypto ventures due to its flexible regulatory framework. While SVG does not have a dedicated “crypto license,” businesses can operate legally using structures like the IBC (International Business Company) and MSB (Money Services Business). The licensing process is straightforward, offering a cost-effective entry for startups and international crypto platforms. However, businesses must be cautious, as the lack of a detailed crypto framework can also lead to operational risks or limited credibility in certain jurisdictions.

Types of Crypto Licenses in SVG Islands

• International Business Company (IBC): Most common setup for crypto exchanges and wallets. Offers privacy and low-cost setup.
• Money Services Business (MSB): Required if the crypto business deals with fiat transactions or remittance.
• Custom Regulatory Arrangement: Tailored for large-scale crypto projects under broader financial regulation.
• Non-Licensed Crypto Operations: Permitted under SVG’s flexible framework but may lack international credibility.
• Offshore Crypto Incorporation: Allows companies to operate internationally while registered in SVG.

Does SVG offer specific licenses for different crypto activities? 

As of 2025, there is a single SVG crypto license that covers all the permitted crypto activities in the country. It is known as the Virtual Asset Business Registration. All the permits are issued by the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) and cover the whole range of the most widespread crypto-related business types, such as:

• Exchange between virtual assets and fiat currency.;
• Exchange between different virtual assets;
• Transfer of virtual assets;
• Safekeeping or administration of virtual assets;
• Participation in and provision of crypto-related financial services. 

All of these activities can be performed by registered businesses within the VASP framework in SVG.

What kind of authorization is required for crypto exchanges in SVG?

Crypto exchange is undoubtedly the most popular crypto business form for registration in Saint Vincent and the Grenadines. To conduct exchange services between virtual assets and fiat currencies or between different virtual assets in a legally compliant manner, a company must obtain the Virtual Asset Business registration in SVG. The same type of registration is also required for legal entities planning to provide safekeeping and administration services for virtual assets. 

Are wallet providers required to obtain a specific license in SVG? 

Under SVG’s Virtual Asset Business Act (VABA) of 2022, the SVGFSA requires wallet providers to obtain the Virtual Asset Business license in SVG in order to conduct their operations. This covers both custodial wallets (where the provider has control or access to the user’s private keys) and non-custodial wallet services that may offer tools or infrastructure enabling users to hold and transact with digital assets. Because these activities involve the ability to control, access, or secure digital assets on behalf of customers, such wallet providers are required to register as a Virtual Asset Business with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.

What about Initial Coin Offerings (ICOs) or token issuance platforms in SVG? 

Businesses that conduct Initial Coin Offerings (ICOs) are considered to be participating in the issuance or sale of virtual assets under the Virtual Asset Business Act (VABA) of 2022 of Saint Vincent and the Grenadines. In a similar fashion, token issuance platforms that provide technological infrastructure or services to help other entities launch, sell, or distribute tokens also fall under the scope of the VABA framework. Legal entities that are involved in ICOs or token sales are obliged to comply with the international and local KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. Demonstrating compliance with AML/KYC is key to securing the VABA authorization in SVG.

Do DeFi projects need a special license in SVG? 

Decentralized Finance (DeFi) projects that operate without centralized intermediaries are also required to be authorized under VABA. While DeFi platforms are often marketed as autonomous, many of them still provide functional services that resemble those of traditional financial intermediaries, such as, for instance, facilitating exchanges between virtual assets or between virtual assets and fiat currencies, enabling the transfer or settlement of virtual assets between users, offering staking, lending, or borrowing mechanisms involving digital tokens, or providing automated market-making or liquidity pool services. In SVG, any company that provides these types of services is required to obtain a crypto license to operate legally. 

Is there a distinction in authorization for different scales of crypto operations in SVG?

Currently, there is no distinction or hierarchy within the VABA framework in Saint Vincent and the Grenadines. Although it may change in the future as global crypto regulations keep evolving, at the moment, the VASP license in SVG is not divided into classes. All companies engaging in virtual asset activities as defined by the Virtual Asset Business Act must obtain the Virtual Asset Business registration, regardless of their size.

What permissions does a “Virtual Asset Business” registration in SVG grant?

Obtaining the crypto registration in SVG permits entities to conduct only the activities specified in the VABA framework. These include exchanges between virtual assets and fiat currencies, transfers of virtual assets, safekeeping services, and participation in financial services related to virtual assets. The registration process is the same for all legal entities, regardless of the activities they intend to engage in. 

Are there any exemptions from registration for certain crypto activities in SVG? 

The VABA does not provide explicit exemptions from registration for specific crypto activities. Entities engaging in any of the defined virtual asset activities are required to register. If you have a particular crypto business model in mind, and it is not specified in the VABA regulatory text, the wisest decision would be to refer to a legal consultant. A person with experience in assisting entities with SVG crypto registration can choose the right course of action for your business. 

How does SVG regulate Money Laundering and Terrorist Financing risks in the crypto sector?

Like any other jurisdiction, Saint Vincent and the Grenadines aligns its domestic AML/CFT policies with the best practices and recommendations of the Financial Action Task Force (FATF). Some of the relevant laws include the Proceeds of Crime Act of 2013 and the Anti-Money Laundering and Terrorist Financing Regulations of 2014. ​Any entity seeking to register under VABA must ensure and demonstrate its long-term compliance with these regulations. 

Where can one find the official list of licensed/registered crypto entities in SVG?  

The Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) maintains a register of licensed entities. For access to the official list of registered virtual asset service providers, you can visit the SVGFSA official website or contact the regulator directly. For more information on the crypto authorization process, refer to the full text of the Virtual Asset Business Act of 2022 or contact legal professionals familiar with SVG’s regulatory environment is advisable.