DriveWealth announced that UAB DriveWealth Europe has been authorised by the Bank of Lithuania as a crypto-asset service provider under MiCA. The affiliate already holds a MiFID II investment-firm licence from the same regulator. The company says crypto services will become available in the new year and will be introduced to partners in phases. The authorization gives partners a route to add crypto-assets alongside U.S. equities, ETFs, mutual funds, fixed income and options through one integration and one European regulatory partner. MiCA has created a common EU framework for crypto-asset service providers, raising the significance of obtaining and maintaining authorisation as the transitional period for firms operating under national regimes closes.
Bank of Lithuania Grants MiCA Authorization to DriveWealth Europe
The Bank of Lithuania authorisation gives DriveWealth's European affiliate a regulatory basis to add crypto-asset services to its securities infrastructure. UAB DriveWealth Europe already holds a MiFID II investment-firm licence from the same regulator. DriveWealth sells brokerage infrastructure to banks, fintechs, digital wallets and other firms that want to offer investing products through their own customer channels.
The company says the MiCA authorisation gives partners a route to add crypto-assets alongside U.S. equities, ETFs, mutual funds, fixed income and options through one integration and one European regulatory partner. DriveWealth says it is still building the infrastructure to support crypto-asset services and will make the offering available in phases. The announcement does not provide specific launch dates, supported crypto-assets, detailed custody arrangements or the precise service set for each phase.
DriveWealth Partners with Ripple for Stablecoin Settlement and Custody
The authorisation follows DriveWealth's announced partnership with Ripple. The company says the partnership will bring RLUSD stablecoin settlement, cross-border payments and digital-asset custody into its infrastructure, beginning in Europe. DriveWealth presents the two developments as groundwork for stablecoin funding, always-on markets and tokenised securities as regulation evolves.
Stablecoin settlement can affect how funds move between participants. Custody concerns the safeguarding and administration of assets. Tokenised securities raise questions about how ownership and transfer rights map to existing securities frameworks. The company's own statement says the affiliate is authorised under MiCA and that services will roll out later.
FAQ
What authorization did DriveWealth receive from the Bank of Lithuania?
UAB DriveWealth Europe has been authorised by the Bank of Lithuania as a crypto-asset service provider under MiCA. The affiliate already holds a MiFID II investment-firm licence from the same regulator.
When will DriveWealth's crypto services become available?
The company says crypto services will become available in the new year and will be introduced to partners in phases. The announcement does not provide specific launch dates or the precise service set for each phase.
What partnership did DriveWealth announce with Ripple?
DriveWealth announced a partnership with Ripple that will bring RLUSD stablecoin settlement, cross-border payments and digital-asset custody into its infrastructure, beginning in Europe.
