Coinshares (CS) said it received a license in EU markets in Crypto Assets (MICA) regulation, the first Crypto Asset Manager based in continental Europe to qualify.
The approval gives Saint Helier, Jersey-based company the opportunity to offer Crypto Portfolio Management Services across the 27-nation block under a single, harmonized regulatory framework. Operations have already been passed for countries, including Germany, the Netherlands and Luxembourg, and this can expand further, the company says.
The license, awarded by France’s Authorité des Marchés -Financers (AMF), joins CoinShares’ existing permits under the EU’s MiFID and AIFM directives. That, says the company, makes it the only major European asset manager who has all three credentials.
It is a step that the company says could help open the 33 trillion euros ($ 38.7 trillion) European capital management industry for more fully regulated cryptocurrency investment products.
“Reception of MICA permission from AMF is a central milestone, not only for Mønhares, but for the entire European digital asset industry,” CEO Jean-Marie Mogetti said in the statement. “With Mica we now have a clear, harmonized structure across the EU, and Coinhares is proud to be the first in continental Europe to meet this standard as a fully regulated asset manager.”
Various other cryptocurrency -companies that are worth adding, have secured MICA licenses including Exchange Coinbase, Bybit, OKX and Crypto.com.
Founded in 2013 and traded publicly at Nasdaq Stockholm, Coinshares says it manages over $ 9 billion in assets.
The company’s shares rose 1.7% to 120 Krona ($ 12.66). They are more than 46% years to date.
