Detailed overview
Kenya at a glance
Kenya works as a regulated home for payments, e-money, remittance and digital credit. Crypto and online gambling are now licensable under modern primary laws, although several fees and capital amounts are still pending gazette.
Last verified: March 2026.
Use Kenya for payments, remittance, digital credit, crypto and online gambling. Confirm pending fees with the regulator before filing.
Is there a crypto licence in Kenya?
Yes. The VASP Act is in force. Application fees and prudential amounts are pending.
The Virtual Asset Service Providers Act commenced on 4 November 2025. Licensing is activity-based and split between two regulators. Custodial wallets and virtual asset payment processors fall under the Central Bank of Kenya. Exchanges, brokers, virtual asset offering providers and tokenisation activities fall under the Capital Markets Authority. The National Treasury published draft VASP Regulations on 18 March 2026.
Penalties: operating without a licence is an offence. Mixer, tumbler and anonymity-enhancing services are prohibited.
Virtual Asset Service Provider (VASP) licence
Best for crypto exchanges, custodians and tokenisation platforms.
What it is: activity-based authorisation to run a virtual asset business under the VASP Act 2025.
Who it suits: exchanges, brokers, custodians, wallet providers, payment processors and tokenisation platforms entering the East African market.
Covers: custodial wallets and virtual asset payment processors (CBK), and exchanges, brokers, virtual asset offering providers and tokenisation (CMA).
Operational requirement: Kenyan bank account, fit-and-proper review, AML, CFT and CPF programme, plus consumer, cyber and data protection readiness.
Headline figures
- Status: in force; implementing regulations pending
- Application fee: to be prescribed by the Cabinet Secretary
- Prudential capital: to be prescribed by the Cabinet Secretary
- Statutory approval period: none fixed in the Act
Activity mapping
- Custodial wallets: Central Bank of Kenya
- Virtual asset payment processors: Central Bank of Kenya
- Exchanges and brokers: Capital Markets Authority
- Tokenisation and offerings: Capital Markets Authority
Money Remittance Operator licence
Best for diaspora remittance and cross-border payments.
What it is: CBK licence to send and receive money transfers in Kenya and across borders.
Who it suits: diaspora money transfer businesses and cross-border payment operators on UK, US and Gulf corridors.
Operational requirement: Kenyan limited liability company. Licence runs to 31 December annually, with renewal at least 2 months before expiry.
Headline figures
- Minimum core capital: KES 20,000,000 (about USD 155,000)
- Initial security: KES 5,000,000 and above (about USD 38,760 and above)
- Application fee: KES 20,000 (about USD 155)
- Licence fee: KES 100,000 (about USD 775)
- CBK decision: letter of intent within 90 days
Payment Service Provider and E-Money Issuer licence
Best for fintechs and mobile wallets.
What it is: CBK authorisation to issue e-money, process digital payments or issue payment instruments under the National Payment System Regulations.
Who it suits: fintechs building mobile wallets, prepaid cards, payment gateways and e-money products in the M-Pesa ecosystem.
Operational requirement: once the file is complete and the fee is paid, CBK issues the certificate within 7 days. Renewal fees scale from KES 20,000 to KES 15,000,000 by transaction volume.
Capital thresholds by category
- Electronic retail PSP: capital KES 5,000,000 (about USD 38,760); authorisation fee KES 100,000 (about USD 775)
- E-money issuer: capital KES 20,000,000 (about USD 155,000); authorisation fee KES 1,000,000 (about USD 7,752)
- Small e-money issuer: capital KES 1,000,000 (about USD 7,752); authorisation fee KES 100,000 (about USD 775)
- Designated payment instrument issuer: capital KES 50,000,000 (about USD 387,597); authorisation fee KES 5,000,000 (about USD 38,760)
Digital Credit Provider (DCP) licence
Best for mobile lenders and embedded credit.
What it is: CBK licence to offer digital lending products to consumers or businesses in Kenya.
Who it suits: mobile lending apps, BNPL platforms, salary-advance providers and embedded credit businesses serving the underbanked.
Operational requirement: applicant must be incorporated under the Companies Act. Requires AML and CFT, data protection, consumer redress, pricing policy and governance documentation.
Headline figures
- Application fee: KES 5,000 (about USD 39)
- Grant and annual fee: KES 20,000 (about USD 155)
- Minimum capital: not stated
- CBK decision: 60 days from a complete application
Online FX and CFD Broker licence
Best for retail FX brokers and CFD platforms.
What it is: Capital Markets Authority licence to run an online foreign exchange or CFD trading platform in Kenya.
Who it suits: retail FX brokers, proprietary trading firms and CFD platforms seeking a regulated African base.
Operational requirement: applicant must be a Kenyan company. The CEO must have at least 5 years of FX experience. Confirm current fees with CMA before filing.
Capital thresholds by category
- Dealing broker: KES 50,000,000 paid-up and KES 30,000,000 liquid (about USD 387,597 and USD 232,558)
- Non-dealing broker: KES 30,000,000 paid-up and KES 30,000,000 liquid (about USD 232,558 and USD 232,558)
- Money manager: KES 10,000,000 paid-up and KES 5,000,000 liquid (about USD 77,519 and USD 38,760)
Is there an iGaming licence in Kenya?
Yes. The Gambling Control Act 2025 is in force. Application fee and gambling capital are pending.
The Gambling Control Act commenced on 26 August 2025. It created the Gambling Regulatory Authority of Kenya (GRAK) and repealed the old Betting, Lotteries and Gaming Act. Online gambling is expressly licensable. The application fee and prescribed gambling capital are not yet gazetted as of March 2026.
Penalties: operating without a GRAK licence is an offence under the Gambling Control Act 2025.
Online Gambling Licence (GRAK)
Best for online casino, sports betting and lottery operators.
What it is: 36-month national licence issued by GRAK to operate online gambling products in Kenya.
Who it suits: online casino, sportsbook and lottery operators targeting Kenya's mobile-first gambling market.
Operational requirement: body corporate with at least 30 per cent Kenyan shareholding. Must hold a Kenyan bank account for gambling monies. Renewal is due at least 3 months before expiry.
Headline figures
- Licence term: 36 months
- Security bond: KES 100,000,000 (about USD 775,000)
- Application fee: to be prescribed
- Gambling capital: to be prescribed
Key conditions
- At least 30 per cent Kenyan shareholding.
- Kenyan bank account dedicated to gambling monies.
- Mobile operators: 2 links plus a Kenyan customer care centre.
- Monetary prizes credited to players within 2 days.
- County trade permit required where physical premises are used.
Costs and timelines at a glance
- VASP licence fees: to be prescribed (draft regulations published March 2026)
- Money remittance capital: KES 20,000,000 (about USD 155,000)
- Money remittance CBK decision: letter of intent within 90 days
- E-money issuer capital: KES 20,000,000 (about USD 155,000)
- PSP authorisation CBK decision: 7 days after a complete file
- Digital credit licence decision: 60 days
- Online gambling security bond: KES 100,000,000 (about USD 775,000)
- Online gambling licence term: 36 months
Who Kenya suits and who it does not
Suitable for
- Mobile money and e-wallet operators
- Remittance businesses on the M-Pesa corridor
- Digital lenders and BNPL platforms
- Online gambling operators under GCA 2025
- Crypto exchanges and custodians under the VASP Act
Not suitable for
- Operators needing certainty on VASP fees before filing
- Gambling operators needing prescribed capital figures up front
- Foreign-owned gambling groups unable to meet 30 per cent Kenyan shareholding
- Mixer, tumbler or anonymity-enhancing crypto services (prohibited)