VAITOS Class O -Wallet & Transfer
License for providing virtual asset wallet services, transfer facilitation, and transaction processing.
VAITOS Act 2021, FSC Guidance Notes
Capital Required
MUR 2,500,000 (approx. USD 56,000)
Timeline
3-6 months
Fees
USD 1,000-1,500 application + USD 2,000-2,500 annual
Regulatory Body
Financial Services Commission (FSC) Mauritius
Legislative Framework
Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), Financial Services Act 2007, Securities Act 2005
Last updated: August 2025
Key Requirements
Minimum paid-up capital of MUR 2,500,000 with quarterly verification and maintenance at minimums
Custodial wallet infrastructure with private key security controls and segregated client wallets per Act
Hot and cold storage architecture meeting cybersecurity standards with regular penetration testing
Chief Information Security Officer overseeing wallet security, key management, and incident response
Professional indemnity and cyber liability insurance of minimum MUR 750,000 covering operations
Clear wallet user agreements specifying key management, loss prevention disclaimers, and redemption
Transaction monitoring and blocking of transfers to sanctioned addresses per sanctions requirements
Monthly wallet reconciliation reports and quarterly audited statements of client fund balances
Application Process
Submit VAITOS Class O license application with detailed wallet technology architecture and security
Provide organizational structure with Chief Information Security Officer CV and cybersecurity credentials
Include compliance manual with wallet user agreements, key management procedures, and AML protocols
Submit evidence of minimum capital MUR 2,500,000 and insurance certificates for both coverages
Provide technical documentation of hot/cold storage and security controls with third-party assessment
FSC review and approval following evaluation of security framework and operational controls
Expected Total Timeline
3-6 months
Ongoing Obligations
After obtaining your VAITOS Class O -Wallet & Transfer, these are the continuing compliance requirements you must maintain.
Quarterly capital adequacy reports and annual independent audit of financial statements and balances
Monthly wallet reconciliation statements verified by independent custodian with certification to FSC
Annual cybersecurity audits including penetration testing and vulnerability assessments to FSC
Quarterly reporting of transaction volumes, wallet client base, and cybersecurity incidents
Annual fit-and-proper assessment for Chief Information Security Officer with updates to FSC
Maintain cyber liability insurance continuously and provide annual renewal certificates to FSC
Cost Summary
Capital Requirement
MUR 2,500,000 (approx. USD 56,000)
Application & Licensing Fees
USD 1,000-1,500 application + USD 2,000-2,500 annual
Jurisdiction Setup Cost
$15,000-$35,000
Annual: $20,000-$50,000
Other Mauritius Licenses
Explore other license types available in Mauritius.
VAITOS Class M -Broker-Dealer
VAITOS Class R -Custodian
VAITOS Class I -Advisory
VAITOS Class S -Marketplace/Exchange
Need help with VAITOS Class O -Wallet & Transfer?
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