Financial institutions across Europe, including neobanks, brokers, fintechs, and traditional banks, are racing to obtain MiCA licenses before the transition period ends in July 2026, according to Patrick Hansen, Circle's Senior Director for EU Strategy and Policy

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May 18, 2025

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According to Circle Senior Director for EU Strategy and Policy, Patrick Hansen, who shared the development on X, the firm is now authorized to custody crypto assets, execute orders, receive and transmit orders, and provide crypto transfers on behalf of clients.

Hansen described the move as evidence of how financial institutions in the region are already making efforts to get licensed under the MiCA before the transition period ends. He said: “The race is on: neobanks, brokers, other fintechs, and even traditional banks are all moving quickly to secure their MiCA licenses before transition periods end.” The transition period for the unifying crypto regulation for Europe is when crypto entities can operate without MiCA licenses in the EU. It is expected to end by the start of July 2026 or until the regulator grants or refuses authorization for companies that have applied.

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Week 21 of 2025