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- Revolut, Blockchain.com, and Relai now hold MiCA licenses in Europe.
- These licenses pave the way for expanded crypto services in Europe.
- Blockchain.com and Revolut are scaling their crypto offerings across markets.
Revolut, Blockchain.com, and the Swiss-based Bitcoin app Relai have successfully secured Markets in Crypto Assets (MiCA) licenses. Most recently, the MiCA framework came into effect, requiring crypto companies to obtain these licenses to conduct business in the European Economic Area (EEA).
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Revolut Expands Its Crypto Services Across Europe
Revolut is a London-based fintech company that has been granted the MiCA license by the Cyprus Securities and Exchange Commission, enabling it to serve more than 65 million customers. This license currently allows a company to offer crypto-asset services across the 30 EEA markets. Revolut has already released its mobile app earlier this year, allowing users within the UK and EEA to access Revolut X, its crypto exchange. With such a MiCA license, Revolut could expand its crypto services and increase its presence in Europe.
Blockchain.com Gains MiCA Approval for Expansion
Another major virtual world player, Blockchain.com, has obtained its MiCA license from the Maltese Financial Services Authority. With this license, Blockchain.com will be able to expand its operations in Europe, such as institutional-level treasury infrastructure and secure custody of digital assets.
The firm also emphasized its commitment to providing a harmonized distribution of services across the EU member states.
Relai’s Milestone in France and Europe
The Swiss-based Bitcoin app, Relai, received a MiCA license with the help of the French Financial Markets Authority (AMF). The firm will first target France in its expansion process.
It would seek to expand into other European markets in the future. The CEO of Relai, Julian Liniger, commended the success, saying that the company is among the first Bitcoin companies to obtain such a license.
A Shift Toward Regulatory Clarity in Europe
These firms were granted MiCA licenses, which underscores the increasing regulatory clarity in the European crypto market. Having these licenses, Revolut, Blockchain.com, and Relai can now offer their services throughout the continent. The MiCA framework, adopted last year, aims to establish a single regulatory framework for digital assets in Europe.
The European crypto scene is undergoing changes as more companies, including Kraken and Gemini, obtain their MiCA licenses. The shift to regulatory compliance demonstrates that the area is aiming to achieve a highly organized and secure environment for crypto services.
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