- Germany leads with 36% of Micar licenses in the EU and has developed into a crypto hub through early willingness to regulate and the efficiency of BaFin.
- Trade Republic’s mica license strengthens the German position and enables crypto services in all 30 EEA.
Germany took over the leadership in the regulation of cryptocurrencies in the European Union and secured more than a third of all licenses that were awarded as part of the mica framework (markets in crypto-assets). With nine of the first 25 licenses granted in the EU, 36 % of mica permits are now eliminated in Germany.
𝐎𝐧𝐞 𝐨𝐟 𝐄𝐮𝐫𝐨𝐩𝐞’𝐬 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐟𝐢𝐧𝐭𝐞𝐜𝐡𝐬 𝐣𝐮𝐬𝐭 𝐪𝐮𝐢𝐞𝐭𝐥𝐲 𝐬𝐞𝐜𝐮𝐫𝐞𝐝 𝐚 𝐟𝐮𝐥𝐥 𝐌𝐢𝐂𝐀 𝐥𝐢𝐜𝐞𝐧𝐬𝐞 𝐟𝐫𝐨𝐦 𝐁𝐚𝐅𝐢𝐧
Trade Republic is now authorized to:
• Custody crypto assets
• Execute client orders
• Receive & transmit orders… pic.twitter.com/3P8MZvZMTY– Patrick Hansen (@paddi_hansen) May 17, 2025
The early success of the license allocation underlines the German approach in the crypto supervision. Industry experts say that the structured financial regulation that is responsible for the Federal Financial Supervisory Authority BaFin has enabled a faster introduction of Micar compared to other EU countries that still adapt its legal infrastructure. While Micar was officially introduced in January 25, many member states linked behind with the granting of licenses, which gave Germany a lead.
Micar frames enables cross-border crypto operations
Micar is the first comprehensive law of the EU for digital assets that standardize regulation in the 30 countries of the European Economic Area (EEA). Under the framework, providers of crypto-asset services (CASPS) can apply for a license in a member state and use it in the entire EU internal market.
As the country with the highest number of licenses, Germany has become a main location for companies that want to offer crypto services in Europe. Neobanken, brokers and traditional financial institutions are also actively involved in the facility in order to have a chance to continue to work in changing rules.
Trade Republic’s Micar license is a milestone
After granting a complete mica license by BaFin for the Trade Republic investment platform, licensing activity in Germany attracted attention. With the approval, the company can keep cryptocurrencies from customers, assist in the transfer of assets and transmit customer orders across various EEA member states.
Trade Republic has a fortune of over 100 billion euros and oversees over four million customers in 17 countries. Bitwala has its headquarters in Germany, where over 2.5 million customers use its crypto services. After receiving the license, Trade Republic will be able to manage almost all aspects of his crypto platform independently and only be dependent on the bank and B2C2 for the trade.
The decision reflects the increasing approach of regulated financial companies to operate their crypto activities under a single license. Micar aims to make the European market for digital assets safer and more uniform.
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