Update: Crossmint Gets Mica Nod To Provide Stablecoin Infrastructure Across Eu

Crossmint has secured MiCA authorization from Spain’s CNMV to operate as a crypto asset service provider, allowing it to passport stablecoin infrastructure services across the EU.

Crossmint has secured a Markets in Crypto Assets Regulation (MiCA) authorization from Spain’s securities regulator CNMV to operate as a crypto asset service provider (CASP), positioning it as a regulated stablecoin infrastructure provider across all 27 European Union member states.

Miguel Angel Zapatero, Crossmint general counsel, told Cointelegraph that the company was held to “the exact same standards” as traditional financial institutions, marking an end to any notion that MiCA offers a lighter regime for crypto businesses.

He said that MiCA created a “level playing field” and built confidence in the sector thanks to “consistent standards and enforcement,” adding that the days of the “wild wild west” era were over, and that MiCA brought “certainty to more traditional clients who were not confident enough in crypto technology.”

Zapatero said Crossmint’s authorization covers three core CASP activities under MiCA: fiat to crypto exchange in both directions, custody of crypto assets on behalf of clients and transfers between wallets and across blockchains.

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He said the company was “providing stablecoin infrastructure for a lot of different use cases, clients, and industries, rather than operating a trading platform,” which he argued makes it relatively unique among MiCA‑authorized businesses focused on business-to-business rails rather than retail speculation.

Internally, he said that the authorization process was treated as equivalent to bank‑style licensing, with the CNMV assessing comprehensive Anti-Money Laundering (AML)/Counter Financing Terrorism (CFT) programs meeting European Union standards, along with other stringent requirements, in a process that “took over 18 months” of iterative review.

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Crossmint co-founder Rodri Fernández Touza told Cointelegraph that many of its target clients, such as remittance firms, payroll platforms, neobanks and marketplaces, now face internal mandates to use MiCA‑licensed partners, particularly as the “grandfathering period” (temporary arrangements that allow firms authorized under pre‑MiCA national rules to keep operating while they seek a MiCA license) ends around July.

Source: CoinTelegraph