Full banking license
Allows deposit-taking and lending. Requires significant capital, a long authorization process, and full prudential supervision. Rarely the right first step for a new fintech.
EMI license (EU and UK)
An electronic money institution can issue e-money and provide payment services. An EU EMI can passport its services to other EU countries. Requires initial capital, safeguarding, and authorization by the national regulator.
US MSB registration
Covers money transmission, currency exchange, prepaid access, and virtual currency activity in the US. Federal FinCEN registration, with state licensing depending on where customers are. Often the quickest regulated entry point.
Swedish trust company
A fiduciary structure for holding and administering assets on behalf of others. Registered with the County Administrative Board for AML supervision only: it is not passported and cannot take deposits or provide payment services.
One platform for any structure
Whichever structure you choose, EBANQ provides the white-label banking software: accounts, transfers, administration, and mobile apps under your own brand.
Common questions
What is a non-bank financial institution?
A company that provides financial services, such as payments, exchange, or asset administration, without a full banking license.
Which structure is quickest?
A US MSB or a Swedish trust company is usually quicker to establish than an EMI or bank. The right choice depends on your activities, not speed alone.
General information only, not legal advice. Requirements depend on your activities and the jurisdictions where you serve customers.