EU MiCA Crypto Registrations Climb to 375 With BingX, YouHodler

375 crypto firms now hold registrations under the European Union's Markets in Crypto-Assets (MiCA) framework after Singapore-based exchange BingX and Switzerland-registered lender YouHodler entered the public registry, according to data reported by Bloomingbit.

The additions extend the registry's growth since MiCA's tiered rollout. Stablecoin and asset-referenced token rules took effect on June 30, 2024. The broader crypto-asset service provider regime became enforceable on December 30, 2024, with full application to existing operators from January 1, 2025.

How MiCA registration works

Crypto-asset service providers (CASPs) seeking to serve EU clients must secure authorization from a national competent authority and notify the European Securities and Markets Authority (ESMA). One passport grants cross-border delivery across all 27 member states. The registry is publicly searchable on ESMA's website, with new entrants published as authorizations complete.

BingX, headquartered in Singapore, runs a spot and derivatives trading venue and has expanded European outreach through licensed affiliates in the bloc. YouHodler, founded in 2018 and registered in Switzerland, operates lending, yield and fiat on-ramp services with multi-currency wallet infrastructure. Both firms now appear alongside Coinbase, Kraken, Bitstamp and Circle in the MiCA-aligned roster.

What does the 375-firm mark mean for non-EU firms?

The expanding register tightens the calculus for exchanges, custodians and lenders based outside the bloc. Three routes have emerged: establish a MiCA-licensed subsidiary in a member state, partner with an authorized CASP, or withdraw from EU clients. Several large venues, including Binance and OKX, restructured or scaled back product lines during 2024 and 2025 to manage compliance risk.

CASP authorization imposes minimum capital requirements scaled to service type: €50,000 for advisory firms, €125,000 for custody and execution providers, and €150,000 for platforms operating trading venues. MiCA also requires CASPs to maintain a registered office in the EU and designate at least one director resident in the bloc.

Which regulators oversee the 375 firms?

National regulators carry primary authorization duties. BaFin in Germany, AMF in France, the Central Bank of Ireland, Lithuania's Financial Crime Investigation Service and Italy's OAM have issued the majority of MiCA licenses to date. ESMA coordinates cross-border supervision, runs the public registry and issues Level 2 technical standards that operationalize the framework.

MiCA's Level 2 standards are being rolled out in stages through 2026. The next batch covers supervision governance, liquidity stress testing and incident reporting. Firms already on the list must align internal controls to the new requirements, while applicants awaiting decisions must satisfy the fuller standards before authorization.

What changes next?

The registry is expected to continue expanding through 2026 as stablecoin issuers finalize their electronic money token and asset-referenced token authorizations, and as second-tier CASP applicants complete the licensing pipeline. Authorized firms face updated reporting obligations as ESMA's next supervisory cycle begins, raising the operational baseline for the 375 firms already on the list.