Armenia’s central bank issues its first crypto-asset services authorisation, to investment firm Meta-X Markets
- Published
- Place
- Yerevan, Armenia
- Event date
- Past event —
Summary
For the first time since Armenia’s crypto-asset law came into force, a company has been authorised to offer crypto-asset services in the country. The Board of the Central Bank of Armenia granted the authorisation on 8 September 2026 to Meta-X Markets, a Yerevan investment firm, in a resolution signed by Deputy Governor Armen Nurbekyan. The decision was posted quietly on the regulator’s website and was only picked up on 3 November by the business news agency Arka. It covers eight services: custody of crypto-assets, buying and selling them on the firm’s own account or on behalf of clients, receiving and transmitting orders, placement, portfolio management, advice and transfers. It does not cover running a trading platform or issuing tokens.
Analysis
Meta-X Markets is not a newcomer. Founded in 2022, it has held an investment firm licence from the central bank since 27 December 2022 and already offers brokerage, foreign exchange and securities custody. Its founder, Aren Naltakyan, is its sole shareholder and chief executive; he ran Inecobank from 2019 to 2022. As an already licensed investment firm, it did not need a separate crypto-asset service provider licence: the law allows it to obtain an additional authorisation instead. Even so, the process took seven months, with nine applications filed between 4 February and 19 August and a favourable opinion from the bank’s licensing and supervision committee on 15 July. The crypto-asset law was passed by the National Assembly on 29 May 2025 and took effect on 4 July 2025, but the central bank’s first implementing regulations, on licensing, minimum capital, managers and offer documents, have only applied since 31 January 2026.
Possible consequences
Companies and sole traders that were already offering crypto-asset services on 4 July 2025 have until 31 January 2027 to be registered and licensed by the central bank, or they will have to stop. The regulator urged them again on 14 September not to leave it to the last minute. Separately, the central bank publishes a list of ten crypto exchange offices and sellers, such as Bitcoin.am and Kaexchange, that may accept cash payments of up to 300,000 drams provided they identify their customers. That list is not a register of licences.
