Trading.com, the sister brand of contracts for differences (CFD) brokerage giant XM.com, has secured a Markets in Crypto-Assets Regulation (MiCA) licence, Finance Magnates has learned. The licence was obtained from the Cyprus Securities and Exchange Commission (CySEC).
Crypto Is Among “Trading.com’s Long-Term European Growth Strategy”
“The successful completion of Trading.com’s MiCA notification process marks another important step in Trading.com’s long-term European growth strategy and reflects the direction the industry is moving in, towards more trusted, transparent and regulated digital asset participation,” a spokesperson for Trading.com's management team told Finance Magnates.
“At Trading.com, we see crypto as part of a broader evolution of modern investing. Clients increasingly want access to multiple asset classes through one trusted and regulated environment, without compromising on platform quality, execution standards or user experience. That is exactly where Trading.com is positioned.”
However, it remains unclear when and how Trading.com will offer its crypto products.
Other prominent brands to obtain the MiCA license in Cyprus are eToro, Revolut and Capital.com.
Read more: CySEC Chair on Crypto Perps, Prediction Markets and the High-Wire Act of EU Regulation
Crypto, but Only in Europe
The Trading.com brand already offers crypto CFDs to its European clients.
Apart from Europe, Trading.com also has a presence in the United Kingdom and Australia. It, however, does not offer crypto CFDs in those markets. Notably, CFD brokers cannot offer crypto CFDs to retail customers in the UK.
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Under the MiCA licence, the CFD brokerage operator can only offer physical crypto and other related services within the limits of the European bloc.
“Europe remains a strategically important market for Trading.com, and we believe the evolving regulatory landscape creates a stronger environment for innovation, long-term client confidence and sustainable growth across the industry,” the Trading.com spokesperson added.
Trading.com, meanwhile, is not the first CFD brand to show interest in physical crypto offerings. Finance Magnates earlier reported on the launch of Pepperstone’s dedicated crypto exchange, while IG Group also added physical crypto, first through a third-party partnership and then by acquiring a crypto exchange.
