KuCoin is working to regularize services for European crypto customers with a MiCAR license in Austria.

Major crypto exchange KuCoin said it is applying for a Markets in Crypto-Assets Regulation license in Austria to expand its offering across the European Union. 

The EU’s MiCA or MiCAR framework went into full effect last December, standardizing the policy framework for digital asset operators and stablecoin issuers. Securing a license under the EU’s crypto licensing regime allows any firm to passport its services anywhere in the European Economic Area.

Per a press statement, KuCoin will apply for MiCAR approval in Austria’s capital city, Vienna, via its local subsidiary KuCoin EU Exchange GmbH. The crypto exchange also plans to establish a headquarters in Austria, tapping the country as a base to launch crypto operations in European markets.

Speaking on the decision, KuCoin EU CEO Oliver Stauber said the platform was “thrilled to embark on this journey” into Europe’s regulated crypto markets.

Christian Niedermueller, KuCoin EU COO, agreed with Stauber’s sentiment, adding that he couldn’t be prouder. “After having scaled up another European exchange and having my toes in the digital asset industry now for more than 9 years, I am very happy to help bring KuCoin to the next level in Europe,” Niedermueller said.

If successful in Austria, KuCoin would join other MiCA license recipients like Crypto.com, OKX, and eToro.