Crossmint Secures MiCA License for Stablecoin Services in the EU

Crossmint Earns MiCA Approval to Operate as a Crypto Service Provider

Crossmint has received the MiCA authorization from the CNMV in Spain, enabling it to operate as a crypto asset service provider (CASP) and offer infrastructure services for stablecoins across all 27 member states of the European Union. Miguel Angel Zapatero, General Counsel at Crossmint, stated that the company will adhere to "the same standards" as traditional financial institutions, emphasizing the end of the notion that MiCA introduces a more lenient regulatory framework for crypto businesses.

The Crossmint license encompasses three main activities: exchanges between fiat and crypto in both directions, custody of crypto assets on behalf of clients, and transfers between wallets and across blockchains. Zapatero noted that Crossmint provides infrastructure for various use cases, clients, and industries, rather than operating a trading platform, which gives it a competitive edge over other MiCA-authorized companies.

Co-founder of Crossmint, Rodri Fernández Touza, highlighted that many of the targeted clients, such as remittance firms and digital banks, are now required to work with MiCA-authorized partners as the transition period nears its end. The company claims it is prepared to meet this demand, considering that many local platforms must comply to continue operating.

In light of regulatory pressures on non-compliant providers, Crossmint is set to be soon listed in the public register of the European Securities and Markets Authority (ESMA). This marks an important step in adapting to the new regulatory requirements and strengthening its position in the European crypto market.