A Swiss fintech company does not need a licence simply because it uses technology. The regulatory question is what client money or cryptoassets it accepts, controls, safeguards or invests—and how the service is marketed.
Banking licence requirements
Professional acceptance of public deposits is a central trigger in Swiss banking law. FINMA describes the traditional more-than-20-depositor test as one indicator, subject to exceptions and the actual business model. Lending, custody and other regulated activity can create separate requirements.
Fintech licence threshold
FINMA’s specialised FinTech licence under Article 1b of the Banking Act covers qualifying acceptance of public deposits of up to CHF 100 million or certain cryptoasset custody arrangements. The accepted deposits must not be invested and no interest may be paid. Licence holders are supervised and must make the absence of deposit insurance clear to clients.
Sandbox exemption
A separate innovation sandbox can allow eligible deposit-taking up to CHF 1 million without a FINMA licence if conditions are satisfied. A sandbox operator is not supervised by FINMA under that exemption and its customer deposits lack depositor protection. It is not a blanket exemption for all crypto or payment activity.
Crypto and AML classification
Cryptoassets can implicate collective custody, money transmission, securities, asset management and anti-money-laundering obligations. The classification can change if custody is pooled instead of segregated or if assets are used for lending. Keep a documented funds-flow map before seeking a licence assessment.
Pre-application decision process
Map every step where client value enters, is held, can be transferred, or is returned. Identify the legal holder of each balance, segregation arrangements, contractual claims and contingency plan. Obtain Swiss regulatory advice and contact FINMA when the authorisation perimeter is unclear.
Frequently asked questions
Does every Swiss crypto startup need a FINMA licence?
No. The relevant requirements depend on the precise business activity and asset-handling model.
Are FinTech-licence client deposits insured?
No. FINMA warns that the client assets are not protected by ordinary deposit insurance.