A subsidiary of digital asset banking group Sygnum has just received a cryptocurrency license from Liechtenstein, which will allow it to expand into the European Union under the Markets in Crypto Assets Regulation (MiCA), CoinDesk has reported.
This license allows the bank's subsidiary in the country to offer regulated digital asset services, such as brokerage, custody and banking, under Liechtenstein's Token and Trusted Technology Service Providers Act.
Following Liechtenstein's adoption of the MiCA, which is expected in the first quarter of 2025, Sygnum will also be able to apply for a crypto asset service provider (CASP) license.
The MiCA allows companies licensed in one EU member state to operate in all 27 member states, as well as in European Economic Area countries such as Liechtenstein.