Trading.com, the sister brand of CFD brokerage giant XM.com, has obtained a Markets in Cryptoassets Regulatory Authorization (MiCA), Finance Magnates has learned. The license is obtained from the Cyprus Securities and Exchange Commission (CySEC).
Cryptocurrencies are among Trading.com’s “Long-Term European Growth Strategy”
“The successful completion of Trading.com’s MiCA notification process represents another important step in Trading.com’s long-term European growth strategy and reflects the direction in which the industry is moving, towards more reliable, transparent and regulated digital asset sharing,” a spokesperson for Trading.com’s management team told Finance Magnates.
“At Trading.com, we see cryptocurrencies as part of a broader evolution of modern investing. Clients increasingly want access to multiple asset classes through a single, trusted and regulated environment, without compromising platform quality, execution standards or user experience. This is exactly where Trading.com is.”
However, it is still unclear when and how Trading.com will introduce its cryptocurrency products.
Other notable brands that have obtained a MiCA license in Cyprus are eToro, Revolut, and Capital.com.
Read more: Head of CySEC on Cryptocurrency Offenders, Prediction Markets and EU Regulation High-Wire Act
Cryptocurrencies, but only in Europe
The Trading.com brand already offers cryptocurrency CFDs to its European clients.
Apart from Europe, Trading.com also has a presence in the UK and Australia. However, it does not offer CFDs for cryptocurrencies in those markets. It is worth noting that CFD brokers cannot offer crypto CFDs to retail clients in the UK.
Under the MiCA licence, a CFD brokerage operator can only offer physical cryptocurrencies and other related services within the borders of the European bloc.
A Trading.com spokesperson added: “Europe remains a strategically important market for Trading.com, and we believe the evolving regulatory landscape creates a stronger environment for innovation, long-term customer confidence and sustainable growth across the industry.”
Meanwhile, Trading.com is not the first CFD brand to show interest in physical cryptocurrency offerings. Finance Magnates previously reported on Pepperstone’s dedicated cryptocurrency exchange launcheswhile IG Group also added physical cryptocurrencies, first through a third-party partnership and then through… Get a crypto exchange.
This article was written by Adonis Adonis, Arnab Shomi at www.financemagnates.com
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