Why a Swiss SRO membership beats MSB or MiCA for many PSP and VASP operators

For payment and crypto operators weighing where to base a regulated entity, the Swiss SRO regime is frequently overlooked — and frequently the best fit.

One licence, three activity sets

Under a single SRO membership you can combine payment services, crypto/VASP activity and card programmes. In most EU structures these sit under separate authorisations. For a business that does more than one thing, consolidating them under one membership is a material simplification.

Moderate capital, fast timeline

Capital requirements are moderate — CHF 20k for a GmbH or CHF 100k for an AG — and a typical path runs to a membership decision in about four months. That compares favourably with the cost and duration of a full MiCA authorisation.

Stable and widely accepted

The regime has operated under the Anti-Money Laundering Act for more than 25 years, and SRO credentials are widely accepted by EU acquirers and fintech partners. EU clients can be onboarded on a non-solicitation basis, keeping you clear of MiCA hurdles.

What it is not

It is not a banking licence. Stablecoin issuance is effectively off the table, and deposit-taking is capped under the sandbox rules. Where those matter, there are defined extension paths — a FinTech licence or a full banking licence.

If you would like to discuss whether the SRO route fits your business, get in touch.