Italy’s Conio receives MiCAR licence ahead of EU crypto deadline

Italy-based fintech Conio has received authorization to operate as a crypto-asset service provider under the European Union’s MiCAR framework, becoming one of the firms to secure approval before stricter licensing requirements take full effect across the bloc.

Conio said the authorization was granted following a regulatory review involving Italy’s market watchdog Consob and the Bank of Italy. The licence permits the company to provide digital asset custody, transfer, and placement services under the EU’s crypto regulatory regime.

The company said it plans to serve retail investors, financial institutions, banks, and fintech firms. Conio also intends to offer white-label services and support organizations pursuing tokenization initiatives and digital asset management projects.

Chief Executive Officer Christian Miccoli said the authorization strengthens Conio’s efforts to act as a partner for institutions that want to incorporate digital assets into regulated investment offerings. He added that the company will continue participating in blockchain and tokenization projects.

“Obtaining MiCAR authorization in Italy is an important milestone that confirms the strength of our approach and our commitment to offering innovative, secure and fully compliant services,” a translated statement from Conio read.

The company added that the licence strengthens its role as a partner for retail clients, banks, and institutions operating in Italy’s regulated digital asset market.

Approval arrives before EU licensing deadline

The authorization comes as crypto companies across Europe race to comply with MiCAR before the end of the transition period. Under EU rules, firms that do not obtain the required authorization by July 1, 2026, may no longer provide covered crypto services to customers in the bloc.

The European Securities and Markets Authority has previously stated that firms operating without a MiCAR licence after the deadline would be in breach of EU law. The regulator also said providers that fail to secure authorization should prepare wind-down plans and help customers move assets to authorized providers or self-custody wallets.

Legal firm Hogan Lovells said Europe had more than 3,000 virtual asset service providers in 2024 but only 194 authorized crypto-asset service providers, including credit institutions, by May 2026. The firm estimated that about 75% of the pre-MiCAR provider base could lose registration status as national transition periods expire.

Conio’s approval also positions the company to benefit from MiCAR’s passporting system, which allows licensed firms to expand services across the European Union after completing the required notification procedures.

From retail crypto wallets to institutional services

Conio has previously focused on crypto custody and wallet services for retail users. In July 2024, the company partnered with fintech infrastructure provider Mesh to connect its wallet platform with major cryptocurrency exchanges, including Coinbase and Binance.

At the time, Conio said more than 430,000 customers used its services in Italy. The company, which counts Poste Italiane and Banca Generali among its backers, said the partnership aimed to give users greater control over how they store digital assets outside centralized exchanges.