Global FinTech Guide
Country Name
New Zealand
DLT and cryptocurrencies
FinTechs belonging to this category offer financial services using crypto currencies. This category also includes FinTechs utilising blockchain and distributed ledger technologies (DLT) upon which Bitcoin and Ethereum are based, among others. FinTechs develop and do research in this field in order to create new services – e.g. crypto currency exchange markets, wallet providers, NFTs-related services, new payment services, "smart contracts" or new clearing and settling services.


Attitude of the country towards financial services using crypto currencies

RBNZ is aware of the increasing prevalence of stablecoins and transactions through decentralised blockchains. RBNZ is considering adopting a central bank digital currency and more information is expected on this in April 2022.

Further, RBNZ has and will continue to publish issues papers in relation to cash in New Zealand. It is certainly possible that crypto currencies will be a standard form of payment in New Zealand within the next 10-15 years.

Payment using crypto currencies is very isolated, with a number of early adopters offering to accept crypto but this has not resulted in widespread uptake.

Legal affairs

Obligations and requirements to provide financial services using crypto currencies described above

Providers of financial services must register as Financial Service Providers in accordance with the FSPA with the associated costs as outlined at 1.a. ii. above. 

Whether a licence is required will depend upon the types of services being provided. If the provider is offering equity securities, debt securities, managed investment products or derivatives to retail investors then they will need to consider whether they are required to get a licence. The associated fees and levies will depend upon the services or products being provided.

Additional comments regarding the legal situation for financial services using crypto currencies or what FinTech’s must be aware of in this business area


Economic conditions

Market size for financial services using crypto currencies and biggest companies in this business area

We do not have information relating to specific market shares, revenues, and transactions.

This space is centred upon decentralised blockchains so, there are many options available internationally particularly relating to crypto wallets and crypto trading platforms.

Investment in crypto currencies by New Zealanders increased by over 7% between March 2020 and April 2021 and is currently a preferred investment over bonds and property trusts.

Additional comments regarding the economic situation for financial services using crypto currencies or what FinTech’s must be aware of in this business area

Reliable information in this area is hard to come by. Interest is growing in this area in New Zealand, but very few practical uses are currently being offered.



© 2022, Tompkins Wake. All rights reserved by Tompkins Wake as author and the owner of the copyright in this chapter. Tompkins Wake has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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