Italian fintech startup Conio has successfully obtained a crypto-asset service provider (CASP) license under the EU's Markets in Crypto-Assets Regulation (MiCAR), placing it among the final firms to secure authorization before the bloc's June 30, 2026, deadline. The approval, granted after rigorous reviews by Italy’s Consob and the Bank of Italy, permits Conio to offer custody, transfer, and placement services for digital assets across all 30 EU and EEA member states.
MiCAR, fully applicable since December 2024, replaces the former patchwork of national crypto regulations with a unified framework. The upcoming deadline marks a hard cut-off for companies operating under transitional arrangements, and any provider not licensed as a CASP will be forced to cease offering crypto services within the EU. As of March 2026, the ESMA interim register listed 169 authorized providers across 20 countries, with banks accounting for roughly 20% of all licenses thanks to a simplified notification procedure for credit institutions.
Conio’s license positions it uniquely because of its backing by two major Italian financial institutions—Poste Italiane and Banca Generali. CEO Christian Miccoli emphasized the strategic importance of integrating digital assets into regulated investment portfolios, stating: "In a strategic area like digital assets, which involves the custody of value, the finance of the future, and the technological and geopolitical competitiveness of national systems, it is essential that Italy can count on excellent organisations capable of innovating."
The company plans to serve three primary segments: retail investors via its mobile app, banks and fintechs through white-label crypto solutions, and corporate or institutional clients interested in tokenization and digital asset management. The white-label model is particularly critical; it allows Poste Italiane and Banca Generali to offer their clients regulated crypto custody and trading without building proprietary infrastructure, effectively distributing crypto services through established banking channels.
Conio’s achievement is part of a broader rush across Europe, as other players also race against the deadline. Singapore-based payment firm Triple-A secured its CASP license from France’s AMF in May 2026, while major Spanish banks like BBVA, Openbank (Santander), and CaixaBank have either launched crypto services or obtained their own licenses. The outcome for those missing the deadline is binary: stop offering crypto services or operate illegally. The EU’s harmonized licensing system now shapes where crypto companies choose to build and where capital flows next.
