Crossmint Wins MiCA License for EU Stablecoin Services
Crossmint secured a Spanish MiCA authorization to operate as a regulated CASP across the EU, focusing on stablecoin infrastructure.Summary
Crossmint has obtained Markets in Crypto Assets Regulation (MiCA) authorization from Spain’s CNMV, allowing it to operate as a regulated Crypto Asset Service Provider (CASP) across all 27 EU member states, primarily providing stablecoin infrastructure.
Crossmint's general counsel stated that the authorization subjects them to the same standards as traditional financial institutions, establishing a level playing field and increasing confidence in the sector. The license covers three core CASP activities: fiat-to-crypto exchange, custody of crypto assets, and transfers between wallets/blockchains. The authorization process involved an 18-month iterative review, including stringent Anti-Money Laundering (AML)/Counter Financing Terrorism (CFT) assessments.
Co-founder Rodri Fernández Touza noted that many target clients, like remittance firms and neobanks, now require MiCA-licensed partners as the grandfathering period nears its end around July, pushing non-compliant providers out. Crossmint positions its regulatory footing as a ready-to-use solution for these clients, anticipating demand from firms whose current providers become unusable or who are unlicensed.
(Source：Cointelegraph)