WhiteBit EU, the European Union branch of WB-Shield Innovations GmbH, has received a Markets in Crypto-Assets Regulation (MiCAR) license. The highly selective regulatory approval secures WhiteBit’s position among EU traders and investors. 

Austria’s Financial Market Authority (FMA) granted the key license to WhiteBit, making it one of the key crypto-asset service providers in the EU. The licensing was received before July 1, the end of the grace period for all EU crypto operators.

WhiteBit has positioned itself to remain on the EU market, where other crypto asset providers may have to leave after the July 1 deadline.

After that date, any exchange or brokerage without a license will be breaking EU laws. Even large-scale players like Tether have failed to secure a license.

Local country regulators in both Western and Eastern Europe are working on a backlog of applications, meaning WhiteBit managed to frontrun the MiCAR process before hitting the key deadline.

The authorization is a key step in WhiteBit’s strategy to grow in the EU markets, working within a transparent and secure regulatory framework. Under MiCA, WhiteBit will become one of the sources for regulated crypto assets across the Euro Area.

As Cryptpopolitan reported, the EU is diverging from the US in terms of crypto regulations, building its own cohort of markets and brokerages. 

“WhiteBIT was originally founded as a European exchange, and Europe remains at the core of our long-term vision,” said Volodymyr Nosov, Founder and President of W Group, which WhiteBIT is part of.

“With MiCA setting a global benchmark for digital asset regulation, this authorization reinforces our commitment to building a transparent, secure, and compliant crypto ecosystem for users across the region,” said Nosov.

The fight to acquire MiCAR licenses has even prevented bigger players like Binance from freely tapping the EU investment market. Austria is one of the most selective jurisdictions, having granted the license to only nine authorized providers with additional approval by the FMA. 

By acquiring Austria’s approval, WhiteBIT has shown it fits the stringent financial supervision standards. Now, WhiteBit plans on wider representation in the Euro Area. With the licensing, WhiteBit may reach millions of European retail clients and institutions. 

WhiteBit launches specialized EU portal

After completing the MiCAR requirements, WhiteBit will proceed with launching its EU portal, Whitebit.eu. The new platform will serve only the European market under full MiCAR requirements, with only offerings of compliant products and assets. 

New users can already join the platform’s waiting list and will be the first notified when trading becomes available. The EU platform will exclude traders from Malta. 

WhiteBit has brought crypto to various markets since 2018. Now, the exchange operates as part of W Group, reaching more than 35 million customers globally. The exchange carries over $889M in volumes daily as of June 21, with most of the activity concentrated on the BTC and ETH markets. 

WhiteBit has also established partnerships with Visa, FACEIT, Barcelona FC, Juventus, and the Ukrainian national football team. 

As a result of the robust growth, the native WBT token retained most of its value, trading at $52.64. The asset remains relatively stable, despite the weakened crypto trading sentiment.  

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