Blockrise, a firm that offers Bitcoin-focussed services, has obtained its license under EU’s MiCAR regulation (Markets in Crypto-Assets Regulation). The development will now allow it to offer Bitcoin trading, custody, and asset management services across the 27 EU nations giving a major boost to its international expansion plans. Roskrise shared an official statement on the development with CoinHeadlines on Wednesday, November 26.
The Rotterdam-headquartered company was granted its MiCAR licence from the Dutch Authority for the Financial Markets (AFM). Owing to MiCAR’s “passporting” feature, getting licenced anywhere in the EU allows crypto firms to operate in other EU jurisdictions as well.
Blockrise is now looking to dive deeper into the EU, which is touted as one of the world’s most regulated crypto markets. Starting next week, the company will begin rolling out a new credit service to its institutional and corporate clients that will let them secure Bitcoin-backed loans of uptp EUR 20,000.
“This license is recognition that our Bitcoin services have matured. Institutional parties, corporate investors, and high-net-worth individuals want to allocate assets to Bitcoin, but only through regulated entities offering transparency, risk management, and security,” said Jos Lazet, CEO of Blockrise, commenting on the development. “Thanks to the MiCAR license, we can now expand into the European market.”
BTC-centred service in demand
Blockwise has been offering BTC services since 2017. In the last one year, the company said, it observed a demand spike around Bitcoin-related services. It said, Bitcoin-backed loan issuers and credit facilities, in particular, have been driving the demand for more streamlined BTC services.
It said its Bitcoin loan service has been designed in full compliance with the MiCAR laws.
“Choosing Bitcoin-only was logical given its market dominance and lower volatility. It also simplifies our proposition for clients,” Lazet noted.
Blockrise is looking to leverage its MiCAR approval in the Series A funding round it plans for the coming months. Through this round, the startup aims to raise EUR 15 million.
Crypto influx in EU
EU’s comprehensive MiCAR laws went into full effect in December 2024. The regulations lays out clear dos and don’ts for crypto firms looking to legitimize their operations across the EU region. Violation of these rules automatically makes the firms in breach liable for legal punishments, hefty penalties, and even bans.
The crypto industry have many a times lauded EU’s clarity on crypto regulations. In the last one year, a number of crypto firms have rushed to obtain their MiCAR registrations.
In recent months Aave Labs, Blockchain.com, and Revolut also secured their MiCAR licences to expand in the EU.