Payments, Forex & Crypto: Key Fintech Segments Driving Growth in Cyprus
Cyprus today hosts a rich and diverse fintech ecosystem, with strong activity across the payments, crypto, forex, and digital banking sectors. The island has become a preferred base for many international providers thanks to its EU membership, strategic location, and robust regulatory environment.
The payments sector is particularly dynamic. Electronic Money Institutions (EMIs) and Payment Institutions (PIs) are offering services such as digital wallets, cross-border transfers, merchant acquiring solutions, and mobile-first banking tools. Many of these firms serve clients across the EU through passporting, making Cyprus an attractive operational headquarters.
Traditional banks are also evolving, integrating more digital services to remain competitive. From mobile onboarding to digital wallets and user-friendly financial marketplaces, banks in Cyprus are embracing digitalisation to meet customer expectations.
Investment Firms remains a cornerstone of Cyprus’ regulated financial services industry. As one of the first EU jurisdictions to regulate forex trading under MiFID, Cyprus has built a thriving ecosystem of investment firms. Today, forex companies increasingly rely on advanced technologies—AI-powered tools, automated trading features, and blockchain solutions—to enhance product offerings and remain competitive.
Crypto-financial services are expanding as well. CASPs registered in Cyprus provide exchange services, wallet solutions, and other crypto-related offerings. With MiCA now in force, entities supervised under AML law can transition into a fully regulated EU crypto framework, unlocking new opportunities for firms looking to scale responsibly.
RegTech is another fast-growing segment. Compliance software providers offer AML/CFT monitoring, digital onboarding, automated reporting, and KYC solutions, serving EMIs, payment firms, crypto platforms and forex companies. These tools help regulated entities comply efficiently while managing operational risks.
Cyprus also benefits from a growing network of technology infrastructure providers, offering services such as electronic signature integration, cloud hosting, and secure verification infrastructure. Many of these companies support both financial and non-financial sectors across Europe and the Middle East.
Taken together, Cyprus’ fintech ecosystem is positioned for strong future growth, supported by a sophisticated regulatory framework and increasing investment in digital infrastructure.
How We Can Assist You
We support fintech firms across all major verticals—payments, forex, crypto, and RegTech—by providing:
- Licensing and passporting assistance for EMIs, PIs, CIFs, and CASPs
- Review and drafting of internal policies, risk frameworks, and agreements
- Compliance support for MiFID II, PSD2, MiCA, AMLD, and DORA
- Due-diligence and regulatory health checks
- Legal structuring for cross-border fintech operations
Our goal is to ensure your fintech business expands securely, compliantly, and with full regulatory certainty.
Feel free to contact us for further professional assistance.
Disclaimer: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any matter. Andria Papageorgiou Law Firm is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this article and in no event shall be liable for any damages resulting from reliance on or use of this information.
