Revolut, Blockchain.com Secure MiCA Licenses for EU Crypto Services

Revolut and Blockchain.com have secured licenses under the EU's Markets in Crypto-Assets regulation, enabling both firms to offer crypto services across 30 European Economic Area countries under a unified regulatory framework.

Revolut obtained its MiCA license from the Cyprus Securities and Exchange Commission, while Blockchain.com received authorization from Malta's Financial Services Authority. The approvals position both companies to expand crypto operations across Europe as the region implements comprehensive digital asset regulations.

"It's no secret that we have ambitious plans for the crypto sector in the future, and our MiCA license is fundamental to all of that," Costas Michael, CEO of Revolut Digital Assets Europe, said in a statement.

For Revolut, the license follows strong performance in its wealth business, which includes crypto products and trading activity. That segment generated $674 million in revenue during 2024, up 298% year-over-year, driven by surging crypto activity.

Revolut said it plans to launch "Crypto 2.0" across Europe over the next six to twelve months, expanding available cryptocurrencies to over 280, introducing zero-fee staking services, and offering stablecoin conversions to USD with no spreads. The digital bank serves over 65 million retail customers globally and has positioned crypto as a core component of its business since enabling digital asset trading in 2017.

"Crypto is a big part of our belief in banking without borders, and securing our MiCA licence is a critical milestone," said Emil Urmanshin, director of crypto at Revolut.

Appointment at Blockchain.com for EU expansion

Blockchain.com appointed Fiorentina D'Amore to lead EU expansion strategy following its license approval. D'Amore brings over 25 years of financial services, fintech, and crypto expertise, including serving as chairperson of the Financial Institutions Malta Association.

"Malta is the perfect launchpad for our European expansion, offering world-class regulatory clarity," said D'Amore in a statement on Thursday. "Our focus is to build a compliant, institutional-grade center that will serve the millions of verified users who trust Blockchain.com as we advance global adoption."

Blockchain.com said it has facilitated over $1 trillion in crypto transactions since 2011 and serves more than 90 million wallets globally. The MiCA license enables the platform to scale services including secure digital asset custody, institutional-grade treasury tools, and localized products tailored to EU markets.

"By combining our greater agility unlocked by regulatory clarity with strategic operational expertise, we are poised to deliver our industry-defining solutions to meet the evolving needs of institutions and individuals across the continent," said Peter Smith, co-founder and CEO of Blockchain.com.

Tough competition

The MiCA framework represents the European Union's first comprehensive regulatory system for crypto assets, establishing uniform standards for custody, asset issuance, and consumer protection. The regulation creates a harmonized environment allowing licensed companies to operate across all member states under a single authorization.

Both companies face intensifying competition as traditional financial institutions and fintech firms expand crypto offerings. PayPal, Robinhood, Stripe, and BlackRock have all entered the sector, while crypto-native platforms like Coinbase and Kraken have launched services traditionally offered by fintech companies, including debit cards, custody, and prime brokerage.

Coinbase launched a Visa debit card in 2020 and has announced plans to become an "everything exchange," while Kraken has expanded into custody services and is building a blockchain-powered neobanking alternative called Krak for the UK and European markets.