NAGA Group said its European entity has received authorization under the European Union's Markets in Crypto-Assets Regulation (MiCA), clearing it to offer regulated digital-asset services across the bloc.

The approval, announced June 24, arrives just ahead of a July 1 cutoff that requires crypto firms to hold a full license or stop serving EU clients.

The license went to NAGA X Ltd, the company said, though it did not name the national regulator that granted it or specify the entity's home jurisdiction.

Authorization Lands Just Before the MiCA Cutoff

MiCA's transitional window closes on July 1, 2026. After that, any crypto-asset service provider operating in the EU without full authorization has to wind down or face enforcement, a deadline that has pushed a wave of brokers and exchanges through national regulators in recent months.

CEO Octavian Patrascu called the license an important milestone for the group. "We view regulatory excellence as a key enabler of long-term growth," he said.

• NAGA Books First Profitable Q1 as Cost Cuts Lift EBITDA Margin
• NAGA Group Pitches AI-First Model Ahead of Q1 Earnings as Xetra Shares Rebound
• NAGA’s Stock to Shrink Tenfold in Reverse Split, Closing Gap With Peers

NAGA leaned on the approval as evidence of its compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term standing. The authorization "demonstrates NAGA's ability to meet demanding regulatory standards," the company said, language that tracks the marketing tone common to these announcements.

Under the license, European clients can buy, sell and exchange crypto-assets and hold them in custody within a regulated setup, according to the firm.

The company also made clear the move tidies up an existing business rather than opening a new one. Crypto services have been part of NAGA's lineup "for many years," it said, with the authorization mainly bringing that offering under the harmonized EU regime.

Crypto Sits Inside a Broader Superapp Push

Digital assets are one piece of NAGA's wider plan to fold trading, investing, payments and crypto into a single app.

The company launched Naga One late last year, positioning the platform against all-in-one offerings from rivals such as Revolut and Warsaw-listed XTB.

NAGA reported more than 2.5 million registered users across over 100 countries, supported by 10 local offices, the firm said.

The app includes a Visa card with fiat and crypto conversion, and the European entity now sits inside a group that picked up additional licenses after its 2024 merger with CAPEX.com.

Brokers and Exchanges Crowd the MiCA Gate

The approval drops NAGA into a fast-filling field. Trading.com, the sister brand of CFD broker XM, secured a MiCA license from Cyprus's CySEC last month, while Just2Trade's crypto arm J2TX registered with the same regulator on March 16.

Both are traditional brokers extending into physical crypto rather than crypto-native shops.

Pure crypto firms have been moving too. Kraken switched on services across all 30 European Economic Area countries under its MiCA license, and Virtu Financial's Irish unit picked up a CASP authorization in early June.

Coinbase, OKX and Bitpanda have all cleared the regime through various member states.

Where NAGA fits is the broker-into-crypto camp. MiCA's Article 60 lets already-regulated investment firms notify their supervisor for equivalent crypto services instead of applying from scratch, a route that favors firms already used to MiFID-style oversight.

NAGA, which carries investment-firm permissions from its merged businesses, lines up with that pattern more than with the crypto exchanges racing to bolt on broker-style products.

A Regulatory Win Against a Softer Backdrop

The authorization comes as NAGA tries to steady its numbers. The group cited "structural headwinds" for a 2025 in which EBITDA fell to 3.3 million euros from 9 million a year earlier, blaming low volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term and thinner copy-trading activity.

There were better signs early in 2026. NAGA booked its first profitable first quarter in April, posting net profit of 0.5 million euros as a leaner cost base fed through.

The company completed a 10-for-1 reverse share split in December 2025, and its stock still trades well below its 2021 levels.

Management has guided to full-year 2026 revenue of 68 million to 75 million euros and EBITDA between 10 million and 15 million euros.

NAGA, which trades in Frankfurt under the ticker N4G, runs a multi-asset app called Naga One that bundles stock and ETF investing, social trading, crypto and banking features.