Crypto
What does it cost to launch a crypto exchange?
Licensing, capital, technology, liquidity and people: where the money goes when you launch an exchange, and which of those costs depends on how you build.
Paynoramic's Head of IT5 min read
White-label crypto exchange pricing Know the price before you call.
Marengo, our white-label crypto exchange, is built and working. Let us run it for a setup fee and a monthly fee, or buy the source code once and run it yourself. Every price is in euros before VAT, and none takes a share of your trading fees.
- €8,500a month, run by us
- €180,000once, the code is yours
- 0%of your trading fees
Packages
Run it with us, or own it outright.
Three packages we run for you, each a setup fee and a monthly fee, and a source licence you pay for once. Your licence, liquidity and providers stay your own contracts, on the terms you negotiate, and we help you get them.
Run by us3 places
Founding
The first three clients to launch on Marengo
€4,000a month
Setup €15,000
First year€63,000
- Hosting, service monitoring and updates, run by us
- Support in business hours
- Lite and Pro on the web, iOS and Android
- The staff backoffice
- Paynoramic KYC for identity checks
- Screening, the Travel Rule, monitoring and market-abuse detection
- DAC8 and CARF tax reports, with each customer's yearly statement
- Passkeys, address whitelists and device alerts
- Your brand on every screen
- One custody or liquidity provider connected
- A say in what we build next
12 months at the founding price, €6,000 a month in the second year, then the Launch price. No revenue share.
Ask about a founding placeRun by usStandard
Launch
Licensed exchanges, brokers and CASPs starting out
€8,500a month
Setup €30,000
First year€132,000
Everything in Founding, plus:
- Euro markets and EURC, with a two-person stablecoin register
- Referral and rewards
- Fee tiers by 30-day trading volume
- AI agent access, read-only by default
12-month minimum, three months paid upfront.
Ask about LaunchRun by usDedicated
Enterprise
Banks and licensed exchanges at scale
from€15,000a month
Setup from €90,000
First yearfrom €270,000
Everything in Launch, plus:
- A dedicated deployment with high availability
- Single sign-on for your staff
- Your custody, identity, screening and liquidity partners connected
- A penetration test
- A 99.9% uptime commitment
- Support around the clock
- The legal centre, fiat and proof of liabilities
24-month term.
Ask about EnterpriseYours to runYours to keep
Source licence
Firms with their own engineering team
€180,000once
€3,000 a month for updates and support, if you want them
First year€180,000
- The full source code of every service and app
- Infrastructure configuration and documentation
- Runs on your infrastructure, under your licence
- Your brand on every screen, web and mobile
- Perpetual, for one legal entity
No licence fee afterwards. Updates and support are 20% a year, and yours to stop.
Ask about the licence
Prices in euros, before VAT. Every quote is confirmed in writing before work starts. Prices from 29 October 2026.
Add-ons
Add what your licence and markets need.
Each is a setup fee, and a monthly fee where we run it. Enterprise includes the first three.
- In Enterprise
Legal centre
Versioned agreements and disclosures, each acceptance kept with the exact text, and notices of fee changes.
€20,000-30,000 setup
+ €1,000-1,500 a month
- In Enterprise
Fiat deposits and payouts
Euro, sterling and dirham balances on the ledger, paid in and out through a bank or e-money provider you choose.
€25,000 setup
+ €2,000 a month
- In Enterprise
Proof of liabilities
A daily statement of what you owe your customers, a public page to verify it and each customer's own check.
€20,000 setup
+ €1,000 a month
Broker mode
Firm prices from your own inventory, hedged on one venue, without running an order book.
€25,000 setup
One-off
Card purchases
Customers buy crypto by card, through a hosted provider you choose.
€10,000-15,000 setup
One-off
A further provider
One more custodian, identity check, chain analytics, Travel Rule network, liquidity venue or bank, through its own adapter.
€10,000-15,000 setup
One-off
Partner products
Perpetual futures, copy trading, tokenised stocks or a crypto card, through a licensed partner, where your licence covers them.
from €25,000 setup
+ €2,000 a month
Something Marengo does not do yet?
A new product or flow, built on the same core, scoped and priced in writing before work starts.
Ask for a quote
Package upgrades
- Referral and rewards on Founding. Launch and Enterprise include them.€1,000-2,500 a month
- Support around the clock on Launch. Enterprise includes it.€4,000 a month
In every package
The whole exchange, compliance included.
These come with every package, the founding one included, before you sign a single vendor contract. Every picture is a real screen of Marengo.
Lite and Pro
Simple buy and sell, and a full trading terminal, on the web and as native iOS and Android apps, in six languages with Arabic right to left.
Engine and ledger
Price-time matching for limit, market and stop orders, and a double-entry ledger that reconciles every account.
The staff backoffice
Customers, identity reviews, money, markets, fees and the compliance cases, in one place for your team.
Paynoramic KYC
Our own identity verification: a hosted page, a review console and encrypted documents. Manual review has no per-check fee.
Compliance tools
Sanctions screening, the Travel Rule with proof of wallet ownership, seven monitoring rules, four market-abuse detectors that open cases with report drafts, and DAC8 and CARF tax reports.
Account security
Passkeys, an address whitelist with a cooling-off period, a list of devices and sessions to revoke, and alerts for new devices and withdrawals.
Pro connections
FIX 4.4, and the REST and WebSocket API with signed keys, for market makers and professional traders.
Your brand
Your name, logo, colours, fonts and domain, on every screen of the web and the apps.
Which way fits
Monthly or once: it comes down to your team.
A package we run
For a team without exchange engineers, or one that wants to launch before hiring them. We host it, keep it updated and watch it, and your team runs the business. Take the source licence later, whenever you are ready.
The source licence
For a team with its own engineers and infrastructure that wants the exchange as an asset on its books. You receive the code, run it where you choose and change any part; updates and support are there if you want them.
Questions
What buyers ask about the price.
How much does a white-label crypto exchange cost?
With Marengo, the Launch package is €30,000 to set up and €8,500 a month, €132,000 in the first year, and the source licence is €180,000 once. Our first three clients, the founding clients, pay €15,000 and €4,000 a month in their first year. Prices are in euros before VAT, and none takes a share of your trading fees.
What does the monthly fee pay for?
Running the exchange for you: hosting with service monitoring, updates and support, the apps and the backoffice, Paynoramic KYC, the compliance tools and tax reports. It is not a licence fee, and not a share of your revenue.
Can we own the source code?
Yes, with the source licence: €180,000 once, perpetual, for one legal entity. You receive the full source code, the infrastructure configuration and the documentation, and run it on your infrastructure under your licence. Updates and support are €3,000 a month, 20% a year, and you can stop them.
Do you take a share of our trading fees?
No. Every package is a fixed fee, so the fees your customers pay are all yours, however much you grow.
Can we keep the providers we already use?
Yes. Your licence, liquidity, custodian and any automated checks stay your own contracts, on the terms you negotiate, and each provider connects through its own adapter. We help you get the contracts you do not have yet.
What is a founding client?
One of our first three clients. A founding client has Marengo in its own brand in about 30 days and a say in what we build next: the exchange, the backoffice, Paynoramic KYC, the compliance tools and tax reports, updates, support in business hours and one provider connected. It pays the founding price for 12 months, €6,000 a month in the second year, then the Launch price, which adds the euro markets, referral, fee tiers and AI agent access.
Can we start with a package and take the code later?
Yes. A client on a package can take the source licence at any time and move the exchange to its own infrastructure. There is no lock-in either way.
How long until we can launch?
The software is ready in about 30 days. Real trading starts once you hold your licence and your custodian, bank and liquidity providers have onboarded you, all in parallel. You can try Marengo meanwhile at marengo.paynoramic.com.
Guides
Before you set a budget.
Licensing
What a crypto exchange licence costs: fees and capital by regulator
The application fee, the yearly fee and the capital a crypto exchange needs under MiCA, the FCA, VARA, ADGM and the DFSA, as each regulator publishes them, and when each falls due.
Paynoramic's Head of IT9 min read
Crypto
Choosing a white-label crypto exchange: 12 questions to ask a vendor
Twelve questions that separate white-label crypto exchange vendors: who owns the code, what it costs over time, whether the ledger reconciles, who holds the keys and what the licence still needs.
Paynoramic's Head of IT8 min read
Start your project
Get a written quote for your exchange.
We show you Marengo on a 15-minute call, then send the package for your licence and markets, with its price, in writing.
- Response in under one business day
- NDA on request
- No obligation