Crypto custody providers licensed in the EU

What the licence covers

The regulation words it as "providing custody and administration of crypto-assets on behalf of clients" (Article 3(1)(16) of MiCA). Holding clients' crypto-assets or the private keys to them, and keeping them safe. This is what a wallet service or an exchange that keeps your coins does.

A provider is authorised service by service, never for "crypto" in general: a company licensed for custody and administration may not offer the other nine unless its authorisation lists them too. Offering this service without holding it is the same breach as operating with no licence at all, which is what puts a company on the list of non-compliant entities. Because it falls in capital class 2, a provider must hold at least EUR 125,000 in permanent capital, or a quarter of its yearly fixed overheads if that is more (Annex IV and Article 67).