Robinhood Secures First Lithuanian CASP License Under MiCA Regulation, Opening the Way for European Crypto Market
Robinhood Europe, UAB, a subsidiary of the US-listed broker Robinhood Markets, Inc. (NASDAQ: HOOD), has been granted the first Lithuanian Crypto-Asset Service Provider (CASP) license under the new European Union Markets in Crypto-Assets (MiCA) Regulation. This license, issued by the Bank of Lithuania, complements Robinhood’s existing A-category brokerage license.
EU-Wide Crypto License
The Robinhood CASP license is EU passportable, allowing Robinhood to offer crypto-related services across the entire European Union and European Economic Area (EU/EEA). Robinhood’s decision to obtain this license in Lithuania underscores the country’s growing reputation as a leading European jurisdiction for crypto and FinTech companies seeking pan-European operational licenses.
The Lithuanian license, issued under the MiCA Regulation, authorizes Robinhood to provide the following crypto services:
- Providing custody and administration of crypto-assets on behalf of clients
- Providing transfer services for crypto-assets on behalf of clients
- Execution of orders for crypto-assets on behalf of clients
- Reception and transmission of orders for crypto-assets on behalf of clients
ECOVIS ProventusLaw has been instrumental in supporting Robinhood’s crypto business in Europe since 2023, when Robinhood Europe, UAB was incorporated and registered as a Virtual Assets Service Provider (VASP) in Lithuania. The new EU passportable CASP license replaces the previous national VASP registration, extending Robinhood’s reach across the entire European Union.
ECOVIS ProventusLaw Crypto and MiCA Licensing Expertise
As part of the global ECOVIS International consulting network, which operates in over 90 countries, ECOVIS ProventusLaw is a leading advisor for crypto and virtual-assets licensing in European Union serving multiple EU jurisdictions. Notably, in 2020, ECOVIS ProventusLaw advised Binance, the world’s largest crypto exchange, on its Lithuanian company incorporation and successful VASP registration.
Comprehensive Licensing Services
ECOVIS offers a full suite of services for crypto-asset licensing, including:
- Preparation of licensing documentation
- Representation at the Bank of Lithuania (Regulator) during the licensing procedure
- Company incorporation and bank account opening
- Corporate office registration and secretarial services
- Advice on IT, HR, and other business incorporation matters
Following license issuance, ECOVIS provides ongoing support through accounting, regulatory reporting, audit, compliance, and legal services for operational businesses.
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