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.

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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.