01 · SRO crypto license
VQF, SO-FIT or PolyReg — the Swiss crypto-licence path.
SRO membership covers crypto, payment, exchange, custody and brokerage operations under Swiss AML supervision. CHF 9,900 application fee, 2–5 month timeline, full compliance pack on top. Faster and cheaper than a FINMA licence.
02 · Three SROs
VQF, SO-FIT, PolyReg — same legal effect, different fit.
VQF
Verein zur Qualitätssicherung von Finanzdienstleistungen. Largest Swiss SRO. Recognised member directory used by counterparties and banks. Strong fit for general financial-intermediary activity.
SO-FIT
Organisme d'autorégulation fondé par le GSCGI et le SAAM. French-speaking-Switzerland orientation. Strong fit for asset-management and trustee operations in Geneva, Lausanne, Vaud.
PolyReg
PolyReg Allgemeine Selbstregulierungs-Vereinigung. Swiss-German speaking, Zurich-based. Generalist scope. Often chosen for crypto-asset and DLT operators.
03 · Pricing
Application + ongoing compliance, side by side with JayBee.
| Service | Our fee | JayBee fee |
|---|---|---|
| SRO application (all-incl, excl. company formation & IT) | CHF 9,900 | CHF 15,000 (JayBee) |
| AML Policy (customised) | CHF 2,900 | CHF 3,800 (JayBee) |
| AML Officer outsourcing (monthly) | CHF 790 / month | CHF 960 / month (JayBee) |
| Compliance Officer outsourcing (monthly, incl. AML) | CHF 890 / month | CHF 1,080 / month (JayBee) |
| Risk Manager outsourcing (monthly) | CHF 890 / month | CHF 1,080 / month (JayBee) |
| AML training (group, per person) | CHF 290 / person | CHF 380 / person (JayBee) |
| AML training (private, up to 5 people) | CHF 1,900 | CHF 2,280 (JayBee) |
| Compliance support (hourly) | CHF 220 / hour | CHF 270 / hour (JayBee) |
| FINMA Non-Action Letter | CHF 3,900 | CHF 4,800 (JayBee) |
| Regulatory Assessment | CHF 2,500 | CHF 3,200 (JayBee) |
| Terms & Conditions (customised) | CHF 1,900 | CHF 2,800 (JayBee) |
| Privacy & Data Protection Policy | CHF 990 | CHF 1,400 (JayBee) |
Fees excl. MWST. SRO application excludes company formation (CHF 990 GmbH or CHF 1,490 AG, see /services/company-formation/) and IT infrastructure. SRO\'s own annual membership fee is paid directly to the SRO and varies by member.
04 · What SRO membership enables
Activity scope under Swiss AML supervision.
- Payment services in Swiss francs and foreign currencies
- Crypto-asset payments, custody and exchange (CEX or FX)
- Card issuance under partnership with a regulated issuer
- Brokerage and trading on behalf of clients
- FinTech sandbox: deposits up to CHF 1m without a banking licence
- Lending operations within SRO scope
05 · Process
Assessment → policy pack → filing → membership.
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01
Regulatory assessment
CHF 2,500 fixed. We confirm SRO is the right path versus a FINMA licence or non-action letter. 5–10 working days.
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02
AML / compliance pack
AML policy, risk catalogue, T&Cs, privacy policy drafted to the SRO's template. 3–4 weeks.
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03
Application filing
CHF 9,900 fixed for the SRO application itself (excl. company formation and IT). Filed with VQF, SO-FIT or PolyReg depending on fit.
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04
Membership granted
2–5 months from filing to membership. We respond to SRO clarifications, run interviews if requested, and bring you over the line.
06 · FAQ
Frequently asked questions.
What is the difference between SRO membership and a FINMA licence?
SRO membership covers AML supervision under the Anti-Money Laundering Act for "financial intermediaries" — payment services, exchange, custody, lending. FINMA licences cover prudential supervision for banks (BankG), portfolio managers and trustees (FinIA), insurers (ISA) and funds (CISA). Many crypto and payment businesses need only SRO membership; a small subset need FINMA on top. The regulatory assessment determines which.
Why is this called the "Swiss Crypto Licence"?
Marketing shorthand. There is no licence specifically named "Swiss Crypto Licence" in Swiss law. The combination of SRO membership and an appropriate corporate structure is what enables most crypto-asset businesses to operate compliantly. The Financial Market Infrastructure Act was extended in 2021 with the "DLT Act" amendments to cover DLT trading facilities and tokenised securities — that is also part of the Swiss regulatory landscape for crypto.
How long does the SRO application take?
2 to 5 months from filing. Bottlenecks are usually the policy drafting (3–4 weeks if we lead) and the SRO's own examination queue (4–12 weeks depending on application volume). Faster than a FINMA licence (6–18 months) and far less expensive.
Which SRO should I pick?
VQF for generalist scope and the largest member directory. SO-FIT for French-speaking operations or asset-management focus. PolyReg for Zurich-based crypto operators. Activity scope is similar across all three; differences are in cultural fit, language of supervision and member directory recognition. We advise during the regulatory assessment.
Do I need a Swiss company first?
Yes. SRO membership is granted to a Swiss legal person. Either form a fresh GmbH or AG (3–6 weeks, see /services/company-formation/) or buy an SRO-pre-licensed Mantel (immediate, see /services/shelf-company/, from CHF 190,000).
What ongoing compliance is required?
Annual AML audit by the SRO, monthly transaction monitoring, periodic refresher training. We outsource AML officer (CHF 790/mo), compliance officer (CHF 890/mo) or risk manager (CHF 890/mo) functions to keep your in-house cost down.
Can I get a FINMA non-action letter instead?
Sometimes. A non-action letter is FINMA confirming that a specific business model does not require a licence under their interpretation. Useful if you operate close to the line on FinIA or BankG. We draft and submit the request for CHF 3,900. Response from FINMA typically takes 4–8 weeks.
07 · Get started
Tell us the activity scope.
Send a one-paragraph description of the business: payment, exchange, custody, lending or other. We confirm SRO is the right path (vs FINMA), recommend VQF / SO-FIT / PolyReg, and quote the full mandate within 24 hours.