Singapore cryptocurrency market-making company Acheron Trading announced that it has successfully obtained a Crypto Asset Service Provider (CASP) license from the Dutch Financial Markets Authority (AFM) under the EU's Markets in Crypto-Assets Regulation (MiCA), becoming the first crypto market maker to achieve this license.
This license, combined with the "European Passport" mechanism, allows Acheron Trading to legally provide crypto asset liquidity services throughout the EU, marking a new phase in its regulatory and market expansion.
Founded in 2018, Acheron Trading has long focused on providing deep market-making support for cryptocurrency trading. Obtaining the first license under the MiCA framework highlights its commitment to compliant operations and underscores its pioneering role in building global crypto financial infrastructure.
The company's CEO, Laurent Benayoun, stated in the announcement: "The European crypto market is maturing rapidly, with increasing adoption rates among retail, corporate, and institutional investors. The implementation of MiCA not only establishes uniform regulatory standards but also opens a clear path for professional market makers like us throughout the entire EU."
He added: "We aim to be a leading force in the industry, promoting a transparent, fair, and sustainable crypto financial ecosystem."
Acheron's Chief Legal Officer, Daniel Lo, also noted that obtaining the CASP license is not only a business achievement but also a reflection of the company's values: "We adhere to compliant, honest, and transparent market-making. This license not only solidifies our legal status in Europe but also validates our commitment to the long-term development of the industry."
MiCA is the EU's first comprehensive unified crypto asset regulatory framework, set to take effect in 2024, aimed at regulating crypto trading, asset issuance, and service provision. Acheron's acquisition of the license is seen as a milestone in the implementation process of MiCA and may serve as an important reference for other crypto companies planning to enter the European market.
