Nexo Completes EU MiCAR Compliance Overhaul, Partners with Two German Licensed Institutions to Serve the European Market
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Nexo Completes EU MiCAR Compliance Overhaul, Partners with Two German Licensed Institutions to Serve the European Market
According to Bitcoin.com, digital asset wealth platform Nexo announced the completion of an upgrade to its European Economic Area (EEA) operational structure to comply with the EU's Markets in Crypto-Assets Regulation (MiCAR). Nexo chose to partner with two entities regulated by the German Federal Financial Supervisory Authority (BaFin) rather than directly applying for a single MiCAR license: Tangany holds a MiCAR license and is responsible for providing segregated digital asset custody infrastructure; DLT Finance holds both MiCAR and MiFID II authorizations and is responsible for providing brokerage and execution infrastructure. Currently, all of Nexo's services in the EEA are operating seamlessly without any interruption.
Navigating Web3 tides with focused insightsTechFlow news, July 29, according to Bitcoin.com, digital asset wealth platform Nexo announced the completion of an upgrade to its operational architecture in the European Economic Area (EEA) to meet compliance requirements of the EU's Markets in Crypto-Assets Regulation (MiCAR). Nexo chose to collaborate with two partners regulated by the German Federal Financial Supervisory Authority (BaFin), rather than directly applying for a single MiCAR license: Tangany holds a MiCAR license and is responsible for providing segregated digital asset custody infrastructure; DLT Finance holds both MiCAR and MiFID II authorizations and is responsible for providing brokerage and execution infrastructure. Currently, all of Nexo's services in the EEA are running seamlessly without any interruptions.
