In the Netherlands, Webulu EU obtained the approval of MiCAR to launch a regulated secure asset-keeping service for European clients later this year.
Webulu EU announced that the Netherlands Financial Markets Authority (AFM) had approved its encryption asset service under the EU Regulation on the Encrypted Assets Market (MiCAR), which would be introduced in the Netherlands initially and subsequently extended to other EU countries through the passport system.
Webull became one of the first double-regulated investment companies in the Netherlands authorized by MiCAR. The client ' s encrypted assets will be kept in the custody of Webull EU and the execution of the transaction will be carried out in cooperation with Coinbase Luxemburg S.A.
“We are pleased to have been approved by the AFM MiCAR, which marks an important milestone in the development of Europe.”
It is expected that by the end of 2026, European users will be able to make encrypted orders for multiple asset classes through the Webull platform. MiCAR approval also allows Webulla to provide regulated custodial services that meet investor protection and operating standards.
Despite initial approval to cover the Netherlands, Webull indicated that passport approval was still pending pending the extension of services to other EU member States. Industry is changing with the increasing number of financial and encryption companies authorized by MiCAR. Recently, Ripple obtained a full-fledged encryption asset service provider licence in Luxembourg to provide a regulated encryption payment service in the EEA.
In addition, Bridge has been granted a licence from the MiCA CAS and the Electronic Monetary Agency in Luxembourg to provide euro-supported stable currency infrastructure and cross-border payment services.