The Markets in Crypto-Assets Regulation (MiCA) introduces a new unified approach to crypto regulation across the EU, providing the same level of protection for consumers regardless of their provider. A provider offering MiCA-covered crypto-asset services in the EU needs MiCA authorization from an EU national competent authority. A CASP authorized by an EU national competent authority may provide its authorized services cross-border after completing the applicable passporting procedure. MiCA cuts through the regulatory divergence and offers many users protection and custody standards.
| Exchange | CASP Jurisdiction | Regulator | MiCA Passport Coverage | Authorized Services | Platform Focus |
|---|---|---|---|---|---|
| Paybis | Latvia | Latvijas Banka | EU, subject to notified services | Crypto-fiat, crypto-crypto exchange, custody, transfers | Fiat on/off-ramp, retail & B2B crypto payments |
| Kraken | Ireland | Central Bank of Ireland | 30 EEA States | Custody, crypto-fiat/crypto-crypto exchange, order execution, transfers | Advanced spot trading, futures, institutional liquidity |
| Coinbase | Luxembourg | CSSF | EEA coverage varies by service and country | Custody, crypto-fiat exchange, order execution, transfer services | Institutional custody, retail trading, developer APIs |
| OKX | Malta | MFSA | 28 EEA States | Platform operation, custody, crypto-fiat exchange, order execution | Spot & derivatives trading, Web3 ecosystem, wallet solutions |
| Crypto.com | Malta | MFSA | 30 EEA States | Crypto-fiat exchange, crypto-crypto exchange, order execution, custody | Mobile trading, Visa crypto card, retail ecosystem |
Choose CASP-licensed exchanges that are authorized and supervised by a financial regulator for the services you plan to use.
What to Check When Choosing a CASP-Licensed Exchange
Although a MiCA CASP license shows that a provider is authorized by a regulator, standards and capabilities still differ. Consider this:
- Licensing Jurisdiction & Regulator: Identify the competent authority issuing the license within the relevant country and passporting status in the ESMA register.
- Scope of Authorized Services: Exchange of crypto-assets for funds, exchange of crypto-assets for other crypto-assets, execution of orders, portfolio management, transfer services, or custody and administration.
- EEA Regional Availability: Confirm that the provider has notified the relevant country and that the specific service is available there.
- Payment Methods and Fiat Options: Check support for SEPA Instant transfers, credit/debit cards, Apple Pay, Google Pay, and localized bank rails in EUR or local currencies.
- Fee Structure: Go through the deposit/withdrawal charges, the maker/taker fee, and spread mark-ups.
- Supported Digital Assets: Evaluate the compliant tokens, stablecoins, and cryptocurrencies like BTC and ETH.
- Custody and Security Architecture: Be sure to understand self-custody, cold storage, clients’ account segregation, and insurance.
5 CASP-Licensed Crypto Exchanges
1. Paybis
- Licensing Jurisdiction: Latvia
- Authorized Services: Services include the custody of virtual assets, as well as crypto-fiat and crypto-crypto exchanges, transfer of assets, etc.
- EEA Coverage: Subject to Paybis Europe’s notified services and host-country registrations
- Fees and Payment Methods: SEPA, SEPA instant, Visa/MasterCard, Apple Pay, Google Pay & Skrill. Instant bank transfers are charged at a rate of 0.99%.
- Supported Assets: Over 90 (including many different cryptocurrencies).
- Custody and Wallet Options: Offers non-custodial direct wallet payouts along with segregated multi-signature web wallets.
SIA Paybis Europe is authorized to operate under MiCA by Latvijas Banka and is licensed as a Payment Institution under PSD2 (PI 27-55/2026/7).
2. Kraken
- Licensing Jurisdiction: Ireland
- Authorized Services: Custody & administration, crypto-fiat exchange, crypto-crypto exchange, order execution, placing of crypto-assets, reception/transmission of orders, portfolio management, and transfer services.
- EEA Coverage: 30 countries; available through Payward Europe Solutions (PES)
- Fees and Payment Methods: Maker/taker spot fees between 0.00% and 0.26%. SEPA deposits and withdrawals are free; card and ACH withdrawals are available.
- Supported Assets: A collection of over 200 assets.
- Custody and Wallet Options: Institutional custody and cold storage.
Regulated by the Central Bank of Ireland, Kraken provides high-liquidity execution and compliance infrastructure.
3. Coinbase
- Licensing Jurisdiction: Luxembourg
- Authorized Services: Custody, crypto-fiat, and crypto-crypto exchange execution, order placement, transmission of orders, and transfers.
- EEA Coverage: Varies by service and country.
- Fees and Payment Methods: Advanced Trade fees: 0.60% taker / 0.40% maker. Supports EUR SEPA, cards, and PayPal.
- Supported Assets: 240+ assets.
- Custody and Wallet Options: Coinbase Prime cold storage and self-custodial Coinbase Wallet.
Authorized by Luxembourg’s CSSF, Coinbase provides services for European consumers and institutions.
4. OKX
- Licensing Jurisdiction: Malta
- Authorized Services: Trading platform operation, custodial services, crypto-fiat, and crypto-crypto exchange, execution, and portfolio management.
- EEA Coverage: 28 EEA member states.
- Fees and Payment Options: Spot fees are 0.08% maker / 0.10% taker. Enables EUR SEPA deposits and card payments.
- Supported Assets: 150+ cryptocurrencies and EUR pairs that are MiCA-compliant.
- Custody and Wallet Options: Custodial and non-custodial options.
Under the supervision of the Malta Financial Services Authority (MFSA), OKX Europe Limited provides trading and liquidity tools.
5. Crypto.com
- Licensing Jurisdiction: Malta
- Authorized Services: Crypto-fiat and crypto-crypto exchange execution transfers, custody.
- EEA Coverage: 30 EEA states.
- Fees and Payment Options: Spot fees begin at 0.075%. Supports EUR SEPA transfers, card buys, and Visa debit integration.
- Supported Assets: More than 250 cryptocurrencies.
- Custody and Wallet Options: DeFi autonomous funds management wallet and storage certified for high-security-level infrastructure by SOC 2 Type 2.
Authorized by the MFSA in Malta with the license CASP, Foris DAX MT Limited offers mobile trading and payments services in the European Economic Area (EEA).
FAQs
What does CASP mean under MiCA?
Crypto-Asset Service Provider. A CASP generally needs authorization from a competent authority to provide MiCA-covered crypto-asset services, such as custody and administration, execution of orders, exchange of crypto-assets for funds, or exchange of crypto-assets for other crypto-assets.
Which crypto exchanges have a CASP license in 2026?
This guide covers five exchanges with MiCA CASP authorizations in 2026: Paybis (Latvia), Kraken (Ireland), Coinbase (Luxembourg), OKX (Malta), and Crypto.com (Malta). It is not an exhaustive list of authorized providers.
Does a CASP license cover the entire EEA?
A MiCA authorization may support cross-border provision of the authorized services through the applicable passporting procedure; it does not automatically establish unrestricted coverage of the entire EEA.
Is CASP licensing the same as MiCA compliance?
CASP licensing is the licensing mechanism under MiCA applicable to service providers. Compliance with all of MiCA will include stablecoin issuance requirements for ARTs/EMTs as well as market abuse mitigation.
Can a CASP-licensed exchange operate across Europe?
Yes. With a CASP license having been granted and the normal passporting notification procedures being completed, an exchange can function in multiple markets.
Final Thoughts
MiCA has improved consumer protection throughout the European Economic Area. Paybis, Kraken, Coinbase, OKX, and Crypto.com all feature these CASP authorizations. Investors should consider the cost structures, payment rails, custody arrangements, and asset ranges on offer to them that meet their requirements.
This article is for educational purposes only and is not financial, legal, or tax advice. Verify each provider’s authorization, notified services, and availability in your country with the regulator’s register and the provider before using any service.
