Best Crypto Cards in Latvia (2026)

Latvia's crypto regulatory framework is now fully aligned with the EU's Markets in Crypto-Assets Regulation (MiCA). Latvijas Banka (the central bank, Latvijas Banka) serves as the primary supervisor for crypto-asset service providers. The Financial and Capital Market Commission (FKTK, Finansu un kapitala tirgus komisija) was merged into Latvijas Banka in January 2023, consolidating all financial supervision under one institution.

On December 3, 2025, Latvijas Banka issued Latvia's first MiCA license to BlockBen, followed by Nexdesk on December 10. These licenses allow the firms to operate across all EU/EEA member states under MiCA's passporting mechanism. Latvia opted for a 6-month MiCA transition period, which has already closed, meaning all CASPs must now hold full MiCA licenses to operate.

Latvia's Fintech Strategy 2025-2027 explicitly targets crypto-asset firms, offering pre-licensing consultations from Latvijas Banka, supervisory fees capped at 0.6% of annual gross revenues (one of the lowest in the EU), and a target of 3-month licensing turnaround. A 38% year-over-year increase in registered crypto firms demonstrates the strategy's success. Latvia positions itself as the EU's most cost-effective and fastest MiCA licensing jurisdiction, completing the Baltic trio alongside Estonia and Lithuania.

Latvia taxes cryptocurrency capital gains under its Personal Income Tax (PIT) framework. The State Revenue Service (VID, Valsts ienemumu dienests) administers all tax collection. Capital gains from crypto disposals are taxed at 25.5% for Latvian tax residents. A transitional rate of 20% applies to gains from positions opened before December 31, 2024, provided the taxpayer submitted a notification to VID by the end of 2024.

From 2025, an additional 3% PIT surcharge applies to the portion of an individual's total annual income exceeding EUR 200,000. Non-residents receiving capital gains from publicly traded crypto-assets are exempt from this 3% surcharge for the period 2025-2027, as part of Latvia's strategy to attract foreign CASP operations.

Example: You acquired ETH worth EUR 500 and it appreciated to EUR 1,500. If you spent EUR 1,500 via a crypto card, the EUR 1,000 gain would attract PIT = approximately EUR 255 in tax (at the 25.5% rate).

USDC or EUR stablecoin funding eliminates the capital gains component. Since Latvia uses the euro, EUR-denominated stablecoins carry zero FX risk. Keep detailed records of all transactions for your VID annual income declaration.

Latvian crypto card applications require a Personas aplieciba (National Identity Card) or Latvijas Republikas pase (Latvian passport), both issued by the Office of Citizenship and Migration Affairs (PMLP, Pilsonibas un migracijas lietu parvalde). Latvia also issues eID cards with electronic signature capability, increasingly used for digital financial onboarding.

Proof of address via utility bills from Latvenergo (electricity), Riga Udens (water utility), or Tet (telecommunications), or bank statements from Swedbank, SEB banka, or Citadele banka. Latvia's eParaksts digital signature system enables remote KYC verification with many EEA-licensed card issuers.

EEA-licensed crypto card issuers (Crypto.com, Plutus, Wirex, Gnosis Pay) readily accept Latvian identity documents. Physical cards ship to Latvian addresses without issues. Verification is typically instant to 24 hours with EEA issuers.

Euro Advantage: Zero FX Cost

Latvia's membership in the eurozone is its defining advantage for crypto card users. All EEA-issued crypto cards denominate in EUR, meaning zero currency conversion on domestic purchases. Unlike non-eurozone EEA members (Sweden, Poland, Czech Republic), Latvians pay exactly what they see with no hidden FX markups. This makes the 0% FX fee on most crypto cards genuinely zero-cost.

Card Selection for Latvians

• Plutus (3%+ cashback): Best everyday EUR card with subscription perks (Netflix, Spotify, Amazon Prime included in paid tiers)
• Gnosis Pay (1-4% cashback): Best self-custody Visa for DeFi-native users
• Crypto.com (up to 5%): Best for CRO holders, lounge access on higher tiers
• Wirex (up to 8%): Best for multi-currency travelers

Spending Scenario: EUR 800/month (Latvian Professional)

EUR 288/year (approx. $310) in cashback at the 3% Plutus tier. Stablecoin funding saves approx. EUR 73/year in capital gains tax versus appreciated BTC.

Local Payment Infrastructure

Latvia has strong card acceptance throughout the country. Riga dominates: malls (Akropole, Alfa, Spice, Galerija Centrs), hotels (Grand Hotel Kempinski, Radisson Blu Latvija, Pullman Riga), supermarkets (Rimi, Maxima, Lidl), and restaurants in Old Riga (Vecriga), the Quiet Centre, and Berga Bazars. Contactless payments represent 73% of card transactions. Apple Pay, Google Pay, and Garmin Pay are widely supported through Swedbank, SEB, and Citadele. SEPA instant transfers enable fast EUR funding of crypto wallets. Latvia is also part of the Eurosystem's Instant Verification Service (IVS), enhancing fintech payment processing capabilities.

The Baltic Fintech Triangle

Latvia completes the Baltic fintech trio with Estonia (home to over 400 fintech firms and pioneering e-residency) and Lithuania (Europe's largest number of registered CASPs). For crypto card users, all three countries share EEA access, but Latvia's competitive MiCA licensing fees and faster processing times make it increasingly attractive for card issuers to establish EU operations here.

EEA-licensed issuers: Crypto.com (up to 5%), Plutus (3%+), Wirex (up to 8%), and Gnosis Pay (1-4%) all serve Latvia under EEA licensing. KAST (2%) and RedotPay (3%) list global coverage. MetaMask (1%) offers self-custody spending.

Who operates: Binance serves Latvian users with EUR pairs. Coinbase is accessible under its EU licensing. Bitstamp (Luxembourg-based) has strong Baltic presence. BlockBen and Nexdesk are the first Latvia-licensed MiCA CASPs. Local exchanges include LocalBitcoins successor platforms and P2P services.

Baltic context: Estonia's e-residency program attracted many crypto firms early, but regulatory tightening in 2022-2023 (revoking over 1,000 licenses) pushed firms to seek alternative EU jurisdictions. Lithuania has the most registered crypto firms in Europe. Latvia's December 2025 MiCA licenses position it to capture firms seeking the fastest, most cost-effective EU licensing.

ether.fi (3%, credit-based) offers a borrow-to-spend model via staking yield, well-suited for Latvian DeFi users who want to avoid triggering capital gains events.

Latvia's MiCA licensing, eurozone membership, and competitive supervisory fees make it one of the EU's most attractive jurisdictions for crypto card issuers and users alike. The Baltic fintech triangle of Estonia, Lithuania, and Latvia now offers complete regulatory coverage for the European crypto market.