Kenya VASP Licence Categories
No VASP register has been published, so this page lists what a licence requires in each of the ten categories. No VASP licence register has been published by the CBK or the CMA (checked 22 Oct 2026).
| Licence category | Regulator | Paid-up capital | Liquid capital | Application fee | Licence fee |
|---|---|---|---|---|---|
| Stablecoin Issuer | CBK | KSh 300 million | KSh 60,000,000 or 100% of current liabilities for at least 30 days, whichever is higher | KSh 100,000 | KSh 2,000,000 |
| Virtual Asset Wallet Provider | CBK | KSh 150 million | KSh 30,000,000 or 100% of current liabilities for at least 30 days, whichever is higher | KSh 100,000 | KSh 500,000 |
| Virtual Asset Exchange | CMA | KSh 100 million | KSh 20,000,000 or 8% of total liabilities, whichever is higher | KSh 100,000 | KSh 1,000,000 |
| Initial Coin Offering Provider | CMA | KSh 20 million | KSh 4,000,000 or 8% of total liabilities, whichever is higher | KSh 100,000 | KSh 500,000 |
| Token Issuance Platform | CMA | KSh 20 million | KSh 4,000,000 or 8% of total liabilities, whichever is higher | KSh 100,000 | KSh 500,000 |
| Virtual Asset Manager | CMA | KSh 20 million | KSh 4,000,000 or 8% of total liabilities, whichever is higher | KSh 50,000 | KSh 200,000 |
| Tokenization Provider | CMA | KSh 10 million | KSh 2,000,000 or 8% of total liabilities, whichever is higher | KSh 100,000 | KSh 500,000 |
| Virtual Asset Broker | CMA | KSh 10 million | KSh 2,000,000 or 8% of total liabilities, whichever is higher | KSh 100,000 | KSh 100,000 |
| Virtual Asset Payment Processor | CBK | KSh 10 million | 100% of current liabilities for at least 30 days | KSh 100,000 | KSh 200,000 |
| Virtual Asset Investment Advisor | CMA | nil | nil | KSh 10,000 | KSh 50,000 |
Sources: VASP Regulations 2026, First Schedule (fees) and Fifth Schedule (capital); regulator per VASP Act 2025, First Schedule.
Which Regulator for Which Business
Three categories go to the Central Bank of Kenya: custodial wallets, payment gateways and stablecoin issuance. The other seven go to the Capital Markets Authority. A business that combines, for example, an exchange with custody needs both licences and both regulators, though the Regulations let the two authorities license and supervise jointly (reg. 148). Separately, any business converting virtual assets to or from foreign currency needs an annual CBK authorisation on top of its licence (reg. 14).
Paid-up capital in KSh million. Sources: Regulations 2026, draft of 17 Mar 2026.
Category Pages
- Stablecoin Issuer (CBK, KSh 300 million)
- Virtual Asset Wallet Provider (CBK, KSh 150 million)
- Virtual Asset Exchange (CMA, KSh 100 million)
- Initial Coin Offering Provider (CMA, KSh 20 million)
- Token Issuance Platform (CMA, KSh 20 million)
- Virtual Asset Manager (CMA, KSh 20 million)
- Tokenization Provider (CMA, KSh 10 million)
- Virtual Asset Broker (CMA, KSh 10 million)
- Virtual Asset Payment Processor (CBK, KSh 10 million)
- Virtual Asset Investment Advisor (CMA, nil)
The Rules in Brief
- Who needs a licence. No one may carry on, or hold themselves out as carrying on, virtual asset services in or from Kenya without a licence from the relevant regulator (Act, s. 8(2)). Only companies limited by shares can apply: a Kenyan company, or a foreign company registered under Kenya's Companies Act (Act, s. 8(1)).
- Two regulators. The Central Bank of Kenya licenses wallet providers, payment processors and stablecoin issuers; the Capital Markets Authority licenses exchanges, brokers, investment advisers, managers and token offerings (Act, First Schedule).
- The deadline. Anyone already providing virtual asset services had one year from the Act's commencement on 4 November 2025 to comply (Act, s. 47). That makes the date 4 November 2026; the Act itself does not print the date, so this is our calculation.
- Penalty. Unlicensed business is a criminal offence: a fine of up to KSh 25 million for a company, and a fine of up to KSh 10 million or imprisonment for up to five years, or both, for an individual (Act, s. 40(3)).
Summary of the Act and Regulations linked. Not legal advice.
Cite This Page
VASP Tracker, “Kenya VASP Licence Categories: Regulator, Capital and Fees”, https://vasptracker.com/en/ke/register/ (accessed 22 Oct 2026). CC BY 4.0.