MiCA countdown: Italy’s Conio secures EU crypto license

Fintech startup Conio has gained its crypto-asset service provider (CASP) license under the EU Markets in Crypto-Assets Regulation (MiCAR), landing one of the final licenses before unlicensed firms lose the right to offer crypto services across the bloc on June 30.

The approval, which involved reviews by Italy’s Consob and the Bank of Italy, covers the custody, transfer, and placement of digital assets. Conio is supported by two of Italy’s largest financial institutions, Poste Italiane and Banca Generali, giving it immediate distribution reach into traditional banking channels.

MiCA window closing soon

June 30, 2026, is the deadline of the MiCAR transition period. Firms not authorized as CASP would not be able to provide crypto services within the EU after that deadline. Previously, Cryptopolitan had reported that MiCAR as harmonized legislation that substituted for the previous system of crypto regulations in the EU 27 member states.

The regulation has been fully applied since December 2024, according to The Paypers, and provided uniform standards for CASPs in the EU. The deadline is “a hard cut-off for firms that have been operating under national transitional arrangements,” as said by The Paypers.

By the beginning of March 2026, the ESMA interim register included 169 authorized providers located in 20 countries, according to CASPList.eu. A bigger part of that number belongs to banks. As Ledger Insights noted in April, out of 177 issued licenses, 36 belonged to banks, or around 20% of all authorizations, which is explained by the simplified notification procedure MiCAR offers for existing credit institutions.

What Conio intends to do with the license

CEO Christian Miccoli described the license as part of Conio’s efforts to integrate digital assets into regulated investment portfolios. “In a strategic area like digital assets, which involves the custody of value, the finance of the future, and the technological and geopolitical competitiveness of national systems, it is essential that Italy can count on excellent organisations capable of innovating,” Miccoli said, according to Electronic Payments International.

Conio defined three key segments for its licensed business operations: retail investors using Conio’s mobile app, banks and fintechs looking for white-label crypto solutions, and corporate or financial institutions interested in tokenization and digital asset management.

The most strategic angle is the white-label model. A white-label cryptocurrency platform is an easily customizable exchange software built by top tech developers to make crypto banking development more affordable, convenient, and approachable for business entities of all sizes.

Poste Italiane and Banca Generali are not just minority shareholders but potential distribution partners. They can leverage Conio’s platform to provide their clients with regulated crypto custody and trading services without setting up their own platform.

Europe’s crypto door is closing

Conio is not alone in working against the clock—several other firms are under the same regulatory deadline pressure. Triple-A, a Singapore-based payment firm, obtained its CASP license from France’s AMF in May 2026. It is one of the two companies in France holding both the Payment Institution license and CASP license. The company said its authorization covers all 30 EU and EEA member states.

The largest Spanish banks have acted as well. BBVA has offered its cryptocurrency services since July 2025, Openbank of Santander has launched its service in Germany since September 2025, and CaixaBank obtained its CASP license in April 2026, according to Ledger Insights.

The pattern is clear. Traditional financial institutions want to make their move into the regulated crypto market before the door shuts. There will be a binary outcome for those who fail to meet the deadline – either stop providing crypto services or operate illegally.

MiCAR sets an example for the global crypto market. Now, the EU has one licensing system that regulates custody, trading, transferring, and placing of crypto assets in 30 countries. Depending on whether other regions follow suit or diverge even more, it will determine where crypto companies choose to build and where capital flows next.

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