Lunar First in Scandinavia to Gain EU Crypto License

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

The MiCA authorization replaces Lunar's prior registration with Denmark's financial regulator, Finanstilsynet, and allows the bank to offer crypto services across EU member states without requiring separate approvals in each jurisdiction. Lunar Block is integrated into the bank's main app and allows users in Denmark, Sweden, and Norway to buy and sell cryptocurrencies while using Lunar's standard banking infrastructure, including deposit accounts, payment cards, and business banking tools.

Ken Villum Klausen, Lunar's founder and CEO, said, "Regulation is vital to turning new ideas into dependable services. 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."

Lunar reached one million users by March 2025 and now processes around 121 million transactions annually, making it one of the larger digital banks in the Nordic region. The crypto platform features transparent fee structures and in-app controls, with minimum transaction sizes starting at 10 kroner, and pricing linked to trade volume rather than subscription tiers.

One of the key benefits of the MiCA license is EU passporting, enabling Lunar to extend Lunar Block to other markets such as Germany, France, and the Netherlands without undergoing additional licensing procedures. While the bank has not announced specific expansion plans or revenue details for its crypto platform, the move positions Lunar as a leading player in regulated digital asset services in Scandinavia.