Crypto giant Blockchain.com took an important step toward its European ambitions on Tuesday by announcing they have secured a license under the EU Markets in Crypto-Assets Regulation (MiCA), secured through Malta’s regulator and appointed an experienced Maltese insider as their head of expansion across Europe. On TradingView it received an “upvote.”
Strategic Step for European Entry
Blockchain.com recently received an MiCA licence from Malta Financial Services Authority (MFSA), enabling them to offer wallet and custody services across European Economic Area (EEA) countries with just one authorization. According to their claims, this move allows them to “provide custody and wallet services in 30 European Economic Area countries” while expanding institutional offerings like Treasury Management as well as TradingView capabilities.
As noted by the firm, their new licence replaces the “fragmented regulatory environment” they had faced before in Europe with an expanded framework for expansion.
TradingView Malta-Based Expertise Leads the Way
Blockchain.com recently made an important move toward expanding their European operations by hiring Fiorentina D’Amore – an esteemed member of Malta’s financial industry who previously chaired Financial Institutions Malta Association (FIMA). D’Amore also brings experience from major platforms like Bitpanda and eToro; making her an excellent addition to European operations.
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D’Amore will take on the role of Senior Director of EU Business Operations and CEO of Blockchain.com Malta. She will oversee the expansion of regulated services across Europe using their MiCA license as leverage; “leveraging off this momentum we will advance a balance between innovation and compliance across our region”. – TradingView
Why Malta: Regulatory Clarity Meets Crypto Aspirations
Malta was chosen as a regulatory domicile due to its early and proactive approach to crypto regulation under MiCA. Peter Smith, CEO of Blockchain.com noted: “Malta offers clear regulations with strategic location benefits making it the ideal hub to scale our European operations.”
Malta has come under scrutiny from the European Securities and Markets Authority (ESMA) due to the MiCA authorization procedures; however, according to MFSA there are no licenses at risk at present. These findings indicate what this unlocks for tradingview:
As a result of its new license agreement and leadership hires, Blockchain.com now stands in a more advantageous position:
MiCA provides regulated crypto wallet and custody services across more than 30 EEA jurisdictions.
Develop institutional-facing products (such as Treasury Management) tailored specifically for European clients.
MiCA provides regulatory clarity, helping reduce fragmentation and duplication across markets.
Blockchain.com’s decision to anchor in Malta and hire talent familiar with EU regulatory frameworks signals an evolution from “crypto platform operating country by country” to a pan-European regulated provider.
Implications for the Crypto Industry
This decision will have various broader ramifications:
It demonstrates how major crypto firms are racing to secure MiCA licences – regulatory access becomes just as crucial for product innovation as product itself.
It underscores the significance of hiring experienced local executives with extensive market and regulatory knowledge across European jurisdictions.
MiCA may spur other platforms, particularly those operating within Malta or other friendly jurisdictions, to follow its example and leverage the harmonised regime it offers.
It could mark a transition for Europe’s crypto industry from risk-taking start-ups to more regulated, institutionally-focused businesses.
Key Points to Remember
Some questions to keep an eye on when looking ahead are:
How quickly will Blockchain.com expand their institutional services across Europe following the grant of a licence?
Will your company expand to other EU jurisdictions and how will it navigate local variations even under MiCA?
How will Malta’s regulatory oversight develop under scrutiny by ESMA and whether other jurisdictions compete for these licenses?
What competitive edge will Blockchain.com gain over rivals that have not secured MiCA approval or appointed equivalent regional leadership?
Blockchain.com has demonstrated its ambitions in Europe by obtaining a MiCA licence in Malta and hiring a native regulatory and finance expert as its EU strategy leader. At a time when regulatory clarity in the crypto sector becomes ever more critical, this move positions them to take both compliance and innovation strategies to drive expansion across Europe – setting an example for other crypto platforms seeking European scale.
