Italian fintech company Conio has received a Virtual Asset Service Provider (CASP) license under the European Union’s Markets in Crypto-Assets (MiCA) regulation, following a joint review by Italy’s market watchdog Consob and the Bank of Italy. The authorization permits Conio to provide digital asset custody, transfer, and placement services across the EU’s single market, marking a significant step in the operational rollout of the bloc’s crypto framework.
The license, granted ahead of the June 30, 2026 transition deadline, allows Conio to passport its services to other EU member states after completing required notifications. Under MiCA rules, firms offering covered crypto services without proper authorization from July 1, 2026 will be in breach of EU law and may be forced to wind down operations. The European Securities and Markets Authority has previously stressed that unauthorised providers should prepare orderly wind-down plans and assist customers in moving assets to compliant platforms or self-custody.
The approval positions Conio—which already serves over 430,000 customers in Italy and is backed by Poste Italiane and Banca Generali—to expand beyond its retail-focused crypto wallet and custody business. CEO Christian Miccoli stated the authorization “strengthens Conio’s efforts to act as a partner for institutions that want to incorporate digital assets into regulated investment offerings.” The company plans to offer white-label services and support tokenization and digital asset management projects for banks, fintechs, and institutional clients.
The licensing comes as Europe faces a steep reduction in the number of authorized crypto asset service providers. Legal firm Hogan Lovells estimated that while the EU had over 3,000 virtual asset service providers in 2024, only 194 had obtained CASP authorization (including credit institutions) by May 2026. Approximately 75% of the pre‑MiCA provider base could lose their registration status as national transition periods expire. Conio’s early compliance therefore gives it a competitive advantage and a template for other firms navigating the new regulatory landscape.
Conio had previously partnered with fintech infrastructure provider Mesh to connect its wallet platform with major exchanges such as Coinbase and Binance, and the MiCA license now reinforces its ability to serve both retail and institutional customers with full legal certainty, including mandatory asset safeguards, transparent fee structures, and AML compliance.
