Alternative bank becomes first in Scandinavia with EU license for crypto

Lunar is the first player in Scandinavia to be approved as a Crypto-Asset Service Provider (CASP) under the EU’s new Markets in Crypto-Assets (MiCA) regulation. The license applies to Lunar Block, the bank’s own crypto platform integrated into the Lunar app, and marks an important step towards more regulated and responsible trading of digital assets.

MiCA is the EU’s first comprehensive framework for crypto services and aims to provide users with the same level of protection they know from traditional financial products.

“As a challenger bank, we believe in innovation and that crypto assets can play a central role in the digital landscape. But innovation requires a clear framework. Regulation is essential to translate new ideas into reliable services,” says Ken Villum Klausen, CEO and founder of Lunar.

EU license to boost trust and security

Launched in 2022, Lunar Block makes it possible to buy and sell selected cryptocurrencies directly in the Lunar app. The platform is built with a focus on security, control mechanisms and transparent pricing.

With the new license, Lunar Block goes from national registration with the Danish FSA to EU-wide authorization under MiCA. This allows it to expand its crypto service offering – without compromising on risk management, transparency and consumer protection requirements.

“The CASP license shows that crypto can be offered with the same security measures that people expect from their bank. For us, it’s about ensuring that users can safely trade in Lunar Block knowing that their assets are protected. This has been our priority from day one,” says Ken Villum Klausen.

He adds:

“Being the first in Scandinavia under this license is a milestone we are proud of and a responsibility we take seriously.”

Regulation as a growth engine

The MiCA framework is not only meant to mitigate risk, but also to support innovation. According to Lunar, it creates a new balance where the development of new crypto capabilities can be done responsibly – as an integral part of the bank’s overall offering.

“With MiCA, regulation becomes a driver rather than a barrier. It creates the framework for responsible growth in Europe for the entire sector, and for Lunar it provides the opportunity to develop crypto capabilities responsibly as part of the overall banking experience,” says Ken Villum Klausen.

Lunar was founded in Aarhus in 2015 and received a banking license in 2019. Today, the bank has more than one million private and corporate customers in the Nordic region and employs approximately 400 people. Lunar Block operates as an independent entity within Lunar Group and is one of the first players in Europe to receive the MiCA license.