Webull EU has cleared a major regulatory hurdle in Europe: the Netherlands’ financial supervisor (AFM) has granted the firm MiCAR approval, opening the door for regulated crypto custody services under the EU’s Markets in Crypto-Assets Regulation.
What this means
- Webull EU can now offer crypto-asset services under MiCAR, starting with an initial rollout in the Netherlands and intending to expand across the EU through passporting once that approval is granted.
- Client crypto assets will be custodied by Webull EU, while trade execution will be handled via a partnership with Coinbase Luxembourg S.A.
- Webull says the authorization makes it one of the first dual-regulated investment firms in the Netherlands to receive MiCAR approval and enables custody services that meet MiCAR’s investor-protection and operational standards.
Company comment and timing
Andries van Luijk, CEO of Webull Securities (Europe), called the AFM approval “an important milestone in Webull’s European ambitions,” reiterating the company’s goal to give clients regulated access to digital assets under the EU framework. The announcement says Webull plans an initial rollout in the Netherlands and wider EU expansion through passporting—though the company’s timeline is a little unclear in the release (it references a launch “later this year” while also noting operations are expected to begin in late 2026). Webull has not yet confirmed exact market-by-market activation dates.
Wider MiCAR context
The move comes amid a wave of firms securing MiCAR authorization after the regulation’s transition period ended on July 1. Under MiCAR’s single-licence approach, a firm authorized in one member state can offer covered crypto services across the European Economic Area without separate national licences—a change that has already driven licensing activity, especially in Luxembourg and the Netherlands.
Recent related approvals and market effects
- Ripple: Received a full Crypto Asset Service Provider (CASP) licence from Luxembourg’s CSSF earlier this month, enabling regulated crypto payment services across the 30-country EEA.
- Bridge: Secured both a MiCAR CASP authorisation and an Electronic Money Institution licence in Luxembourg to support euro-backed stablecoins, virtual IBANs and cross-border euro payments across the EU.
- Market adjustments: Several exchanges altered services to comply with MiCAR—Coinbase, Kraken and Crypto.com removed USDT trading for European users after Tether opted not to seek MiCAR approval, and Binance introduced changes to align with the new rules.
Why it matters
Webull’s authorization signals growing institutionalization of crypto in Europe: custodied offerings from regulated investment firms, combined with execution partnerships and MiCAR compliance, lower regulatory risk for retail and institutional users. The passporting mechanism also sets the stage for faster, cross-border expansion—once passporting is approved—making regulatory hubs such as the Netherlands and Luxembourg strategic bases for firms building EU-wide crypto services.
We’ll update as Webull provides a clearer launch timeline and as passporting approvals roll in.
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