Spain's securities market regulator CNMV has given final approval to Crossmint's application under MiCA, Cointelegraph reported on Tuesday.
The approval recognises Crossmint as a legal cryptocurrency services provider in the European Union's 27 member states.
Crossmint's MiCA approval covers three core activities: fiat-to-cryptocurrency exchange, custody of customer assets, and transfers of assets between wallets and blockchains. Crossmint appears to be focusing on providing business-to-business stablecoin infrastructure rather than operating a trading platform.
Crossmint co-founder Rodri Fernandez, head of investment, said many companies including remittance firms, payroll platforms, neobanks and marketplaces are in a position where they must work with partners that hold a MiCA licence. Unapproved firms are likely to be pushed out of the market, he said, adding Crossmint is ready to absorb that demand.
Chi-gyu Hwang
delight@d-today.co.kr