MoonPay, BitStaete, and Hidden Road gain EU licenses under MiCA rules
The license gives the right to work in 27 EU countries
Although the European Union set December 30, 2024, as the deadline for implementing the Markets in Crypto Assets (MiCA) regulations, the number of crypto firms that have managed to obtain licenses remains very small.
As reported by CoinPedia, the Netherlands Authority for the Financial Markets (AFM) issued licenses to crypto-asset service providers MoonPay, the digital asset management company BitStaete, and the primary brokerage and clearing firm Hidden Road before the end of the year.In mid-December, the fintech company ZBD, which operates on the Bitcoin Lightning network, also received such a license.
The AFM-issued licenses enable these companies to operate in all 27 EU countries.In this regard, Ivan Soto-Wright, CEO and co-founder of MoonPay, expressed satisfaction with the collaboration with AFM, which allowed his firm to become one of the first licensed organizations in Europe.
Digital assets for wealthy families and fans
BitStaete announced that it secured the license through close collaboration with its partners: Finway (legal support and compliance), Anove (DORA compliance and IT), and Turing Law (IT, privacy, and digital transformation).With this license, BitStaete strengthens its position as a trusted asset management partner for high-net-worth individuals, organizations, funds, and family offices across Europe.
In addition, the fan engagement platform Socios.com received approval from the Malta Financial Services Authority (MFSA) to operate as a regulated crypto service provider, granting it the right to work throughout the EU.
Furthermore, at the end of last year, the United Kingdom added the cryptocurrency trading company GSR Markets to its official crypto register.
In a move that could deepen the adoption of cryptocurrency and self-custodial finance, MoonPay has unveiled MoonPay Balance, a payment solution designed to allow users to hold and spend fiat balances, such as euros and British pounds, directly in their non-custodial wallets. The service, launched on November 13, marks a significant step toward making cryptocurrencies like Bitcoin and fiat currencies more accessible and interchangeable in everyday transactions.
