We’re glad to announce that Utorg has officially received authorization under the EU’s Markets in Crypto-Assets Regulation (MiCA).

This is a huge moment for us in Europe. With this license, we’re cleared to offer regulated services across 29 EEA member states, a single market of over 450 million people. That covers both sides of what we do: the infrastructure we build for businesses, as well as the wallet and card that our 2 million users already rely on every day.

And the timing? It couldn’t be more significant

July 1st is the end of MiCA’s transitional period. After today, the operations of crypto providers in the EEA without authorization becomes illegal. Of the 2,000-plus CASPs (crypto-asset services providers) that operated under the old national registrations, only around 200 have completed the move to full authorization. A large part of the market is now winding down in Europe or restricting its EU users.

We built products that meet the most recent European legal standards, and we’ve been working toward this for a long time.

Eugene Petrakov, Co-founder of Utorg, said:
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‍“Most of the industry spent the last two years hoping MiCA would get delayed or softened. We spent it building toward it. For European users, July 1 means fewer options, stricter standards, and a much shorter list of platforms they can actually trust. We intend to be at the top of that list, not just because we’re authorized, but because we built a product that is safe by design. The license confirms what was already true.”

Built on a strong foundation

Utorg didn’t arrive at MiCA from a standing start. Founded in 2019, we’ve grown into a platform that serves more than 2 million users across 130+ countries, with over $2.4 billion distributed to customers, 100,000+ daily transactions, and 2,100+ integrations delivered for businesses. Backed by Dragonfly and TA Ventures, and built on infrastructure designed to be regulated from day one.

We built Utorg around two simple ideas: self-custody and clean payments. A wallet where users keep full ownership and control of their funds, and a free crypto card that makes crypto spendable in everyday life. The MiCA authorization formalizes the standard we were already holding ourselves to, and puts it under ongoing EU supervision.

So what does MiCA actually mean for users?

MiCA is the EU’s first unified rulebook for crypto-assets, setting binding standards on consumer protection, transparency, and financial integrity that apply the same way in every member state. 

For users, full authorization brings real, enforceable protections:

• Your funds are held separately from company assets
• You can’t be hit with hidden fees
• If a company were to shut down, there’s a defined process for returning your assets, and your assets are protected under EU law
• If you have a complaint, you can take it to a national regulator

For Utorg, the license is the result of a full review of our products, operations, and compliance, and it comes with ongoing reporting and supervisory obligations under EU financial law. In short, it formalizes the high standard we’ve long held, and reinforces long-term trust in the market.

How can EEA residents use the Utorg App?

If you already use our app in Europe, nothing about your day changes. You keep your wallet, your card, and your funds, and you carry on as before, now on a platform regulated to the latest European standard. Through the Utorg App, EEA residents get:

• A self-custodial crypto wallet to buy, send, receive, store, and swap across 170+ cryptocurrencies and 14 blockchains, including BTC, ETH, and SOL. You keep full ownership and control of your funds at all times. We never touch them, and technically we can’t.
• A free crypto card accepted at 80 million-plus merchants worldwide, with Apple Pay and Google Pay, and no fees to issue, maintain, or top up. The app is on Android today, with iOS arriving in July.

For card payments, Utorg holds PCI DSS Level 2 certification, the same data-security standard the traditional payments industry runs on, verified by regular independent audits.

What’s next?

A MiCA license is a strong position to build from. It lets us keep expanding our regulated wallet, card, and stablecoin infrastructure across the EU for both consumers and businesses, with the confidence that the foundation underneath is built to last.

We’re glad you’re here for this chapter. And we’re just getting started. So,

Secure your future in crypto → Download Utorg (available on iOS (in July) and Android)

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