Danish
challenger bank Lunar has become the first financial institution in Scandinavia
to receive a Crypto-Asset Service Provider (CASP) license under the EU’s
Markets in Crypto-Assets regulation. The authorization covers Lunar Block, the
bank’s in-app crypto trading platform launched in 2022.

Lunar Secures First MiCA
Crypto License in Scandinavia

The MiCA license replaces
Lunar’s previous registration with Denmark’s financial regulator,
Finanstilsynet, and extends the bank’s ability to offer crypto services across
the European Union without obtaining separate approvals in each market.

Lunar Block
operates as a closed platform within the bank’s main app, allowing users in
Denmark, Sweden, and Norway to buy and sell cryptocurrencies. The service is
integrated with Lunar’s banking infrastructure, which includes standard deposit
accounts, payment cards, and business banking tools.

“Regulation
is vital to turning new ideas into dependable services,” Ken Villum
Klausen, Lunar’s founder and chief executive, said in a statement. “As a
challenger bank, we believe in the power of innovation and that crypto assets
can play a pivotal part in the digital asset landscape.”

Other
challenger banks in Europe are also seeking similar licenses. In September, Zurich-based
Sygnum obtained one, while Robinhood
is expanding its services in Europe under the MiCA framework. Revolut, the
largest neobank, is
still in the process of applying.

Nordic Neobank Expands
Crypto Offering

Lunar
reached 1 million users in March 2025 and is processing 121 million
transactions annualy, making it one of the larger digital banks operating in
the Nordic region. The bank holds a Danish banking license obtained in 2019 and
employs roughly 400 people across Denmark, Sweden, and Norway.

The crypto
platform was designed with transparent fee structures and in-app controls,
according to the bank. Users can trade with minimum transaction sizes starting
at 10 kroner, with pricing tied to trade volume rather than subscription tiers.

One
advantage of the MiCA license is passporting, which allows authorized firms to
operate across all EU member states. For Lunar, this means the bank can extend
Lunar Block to users in markets like Germany, France, and the Netherlands
without repeating the licensing process.

The bank
has not, however, announced specific expansion plans yet. Moreover, it
has not disclosed what share of its user base actively trades crypto through
Lunar Block or how much revenue the platform generates.

This article was written by Damian Chmiel at www.financemagnates.com.

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