Conio secures MiCAR license in the EU! What does this mean for crypto banks?

Italy-based fintech company Conio has received a crypto asset service provider license under the European Union’s Markets in Crypto-Assets Regulation (MiCAR). This approval makes Conio one of the last firms to complete licensing ahead of the transitional period’s end on June 30, 2026, positioning it to provide regulated crypto services across the EU.MiCAR timeline grows tighterHow Conio plans to use its licenseBanks accelerate in Europe MiCAR timeline grows tighterThe green light for Conio followed rigorous evaluations by Italy’s market authority Consob and the Bank of Italy. This license authorizes Conio to custody, transfer, and offer digital assets to investors. Backed by major Italian financial institutions, including Poste Italiane and Banca Generali, Conio enjoys direct access to traditional banking channels, offering a significant competitive edge.The MiCAR transition period will close on June 30, 2026. Past this date, companies without CASP authorization will be barred from offering crypto services within the EU. Implemented fully since December 2024, MiCAR has replaced varied national frameworks with a single, harmonized regulatory regime across member states.June 30, 2026 is considered a definitive threshold for firms currently operating under national transitional arrangements.As of March 2026, ESMA’s temporary register listed 169 authorized providers active in 20 countries, with banks making up a notable portion. By April 2026, banks had received 36 out of 177 licenses granted, representing roughly 20% of all authorizations, highlighting the financial sector’s growing role in the regulated crypto landscape. How Conio plans to use its licenseConio CEO Christian Miccoli sees the license as a strategic move to integrate digital assets into regulated investment portfolios. He emphasized that digital assets are crucial for value preservation as well as for fostering financial and technological competitiveness, stressing the need for Italy to rely on institutions capable of delivering innovation.Christian Miccoli underscored that Italy must build on robust institutions that lead in strategic areas like digital assets.The company intends to focus its licensed activities on three priority areas: retail investors using the Conio app, banks and fintechs seeking white-label crypto solutions, and enterprise clients interested in tokenization and digital asset management.Glossary: A white-label crypto solution allows another company to offer technology developed by a provider under its own brand. Tokenization means creating a digital representation of an asset on blockchain-based platforms.The white-label model stands out as the most significant opportunity for Conio, enabling Poste Italiane and Banca Generali to offer regulated custody and trading services without building their own infrastructure. These two institutions are not only shareholders but also poised to serve as strategic distribution partners.Banks accelerate in EuropeConio is far from alone in the licensing race. Singapore-based payment firm Triple A received a CASP license from the French AMF in May 2026, joining just one other company in France to hold both a payment institution and a CASP license. This authorization covers all 30 EU and European Economic Area countries.Spain’s leading banks are moving swiftly as well. BBVA launched crypto services in July 2025, while Openbank, a Santander subsidiary, began operations in Germany in September 2025. CaixaBank obtained its CASP license in April 2026. Together, these moves show established financial giants are entering the regulated crypto market before the MiCAR deadline arrives.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.