The global Brokerage-as-a-Service provider DriveWealth has officially announced that its European subsidiary, UAB DriveWealth Europe, has received authorization from the Bank of Lithuania to operate as a Crypto-Asset Service Provider (CASP). This regulatory milestone, granted under the European Union’s Markets in Crypto-Assets (MiCA) framework, positions the company to expand its financial ecosystem by integrating digital assets alongside its existing traditional securities offerings.
Strategic Expansion Under MiCA Framework
The acquisition of the CASP license allows DriveWealth to leverage a single legal entity within the European Union to manage both MiFID II regulated securities and crypto-asset services. By operating under the MiCA regulation, which provides a comprehensive legal framework for digital assets across the Eurozone, DriveWealth aims to streamline its infrastructure for institutional and retail partners. The company plans to initiate a phased rollout of these new cryptocurrency services starting in 2027.
- Unified Licensing: Integration of securities and crypto services under one EU entity.
- Regulatory Compliance: Adherence to the stringent transparency and security standards set by MiCA.
- Global Infrastructure: Strengthening the Brokerage-as-a-Service model for international expansion.
Collaboration with Ripple and Digital Asset Integration
The move toward crypto-asset services follows a significant partnership between DriveWealth and Ripple. This collaboration focuses on integrating the RLUSD stablecoin for settlement processes, enhancing cross-border payment efficiency, and implementing robust digital asset custody solutions. By incorporating blockchain technology into its core infrastructure, the platform intends to reduce friction in global financial transactions and provide more versatile settlement options for its clients.
This license builds upon our previously obtained MiFID II license, allowing a single EU entity to cover both securities and crypto-asset businesses.
The authorization by the Bank of Lithuania marks a pivotal step for DriveWealth as it adapts to the evolving regulatory landscape in Europe. By securing CASP status well ahead of the full implementation deadlines of the MiCA regulation, the firm establishes itself as a compliant gateway for firms looking to offer diversified investment portfolios. This development underscores the growing trend of traditional financial intermediaries adopting blockchain technology to meet the increasing demand for regulated digital asset exposure.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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