CONNECT WITH US
Fintech

Fintech

DriveWealth Receives MiCA Authorization from the Bank of Lithuania to Provide Crypto-Asset Services Across the EU

Global Fintech Series logo

Published on

Add as a preferred source on Google
DriveWealth Receives MiCA Authorization from the Bank of Lithuania to Provide Crypto-Asset Services Across the EU

DriveWealth, a global Brokerage-as-a-Service platform powering the infrastructure for modern investing and trading, announced that its European affiliate, UAB DriveWealth Europe, has been authorized by the Bank of Lithuania (Lietuvos bankas) as a crypto-asset service provider under the European Union’s Markets in Crypto-Assets Regulation (MiCA). Services will become available within the new year.

Read More on Fintech : Global Fintech Interview with Andy Jiang, Head of Product, Slash

The authorization builds on UAB DriveWealth Europe’s existing MiFID II license, also issued by the Bank of Lithuania, giving DriveWealth a single EU entity regulated for both securities and crypto-assets. It extends DriveWealth’s long-standing mission of opening access to U.S. markets into a single regulated platform for multiple asset classes, and establishes DriveWealth as a regulated crypto-asset provider in its own right.

For banks, fintechs, digital wallets and brokers, the authorization means one integration and one regulatory partner across U.S. equities, ETFs, mutual funds, fixed income, options and, soon, crypto-assets. DriveWealth takes on the licensing, custody and compliance work that would otherwise take partners years to build, so they can bring new investing products to market in weeks. For their customers, it creates a path to one unified investment experience, with stocks, tokenized assets and crypto-assets in one place.

“Finance is moving toward a world where stocks, stablecoins and tokenized assets sit side by side, and that future has to be built on a regulated foundation,” said Naureen Hassan, CEO of DriveWealth. “MiCA authorization is another step in that direction. S.



Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.