The asset list runs from the major tokens by market capitalisation, including bitcoin (BTC), ether (ETH) and the two dominant stablecoins, Tether’s USDt and USDC, through to more speculative names including Dogecoin, Pepe, Shiba Inu and Kaspa. Supported networks include Ethereum, Arbitrum, Base, Solana, BNB Smart Chain, TON and the XRP Ledger, among others. Liquidity is sourced through an unnamed cryptocurrency exchange that Mercuryo says applies anti-money-laundering controls, though the company has not disclosed the counterparty.

The most commercially significant detail in the announcement is a geographic carve-out: Swaps is not available to users in the United States, the United Kingdom or the European Economic Area. That restriction covers the three largest regulated digital-asset markets by institutional participation and removes a substantial proportion of global retail trading volume from Mercuryo’s addressable user base for this product.

The exclusion is likely a regulatory precaution rather than a commercial choice. In the UK, the Financial Conduct Authority requires cryptoasset businesses to register and applies financial promotions rules that constrain how token conversion services can be marketed. Across the EEA, the Markets in Crypto-Assets regulation (MiCA), which came fully into force in late 2024, creates a harmonised but demanding licensing and disclosure framework for crypto-asset service providers. The US remains fragmented across Securities and Exchange Commission , Commodity Futures Trading Commission and state-level money-transmission regimes, and enforcement actions against token swap venues have put overseas providers on notice. Rather than clear those hurdles immediately, Mercuryo appears to be launching in markets where the compliance overhead is lower, keeping its options open for regulated-market entry at a later stage.

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