Trade Republic Smashes Regulatory Hurdle: Germany’s BaFin Grants Full MiCA License
Berlin-based fintech Trade Republic just outmaneuvered legacy finance—again. BaFin’s MiCA approval cements its position as Europe’s crypto compliance frontrunner.
Why it matters: While traditional banks still treat crypto like radioactive waste, agile players are eating their lunch. The license lets Trade Republic offer regulated crypto services across the EU—no more jurisdictional limbo.
The cynical take: Watch incumbent banks suddenly ’discover’ their passion for blockchain innovation now that regulators are handing out golden tickets. Too little, too late.
Trade Republic is now authorized to:• Custody crypto assets
• Execute client orders
• Receive & transmit orders… pic.twitter.com/3P8MZvZMTY — Patrick Hansen (@paddi_hansen) May 17, 2025
36% of all MiCA Licenses Granted by German Regulator
Germany has been. The frontrunner in the European crypto space, granting a full MiCA license to 9 crypto asset service providers (CASP).
Hansen emphasized that BaFin has granted “an impressive” 9 of the first 25 MiCA CASP licenses across the EU. This represents 36% of all EU-wide CASP licenses, he added.
As of April, only 15 CASPs were registered under the MiCA framework in the first 100 days of implementation. The number has since increased to 25, per Hansen’s latest post.
He further described the MOVE as evidence of how CASPs and fintechs in the region are already making efforts to secure a license before the transition period ends.
“The race is on: neobanks, brokers, other fintechs, and even traditional banks are all moving quickly to secure their MiCA licenses before transition periods end.”
The BaFin approval comes at the same time as Luxembourg’s financial regulator granted a MiCA license to Bitstamp crypto exchange.
Crypto Firms Move Fast to Get License Before it’s Too Late
In April, a crypto lawyer Ilja Nikiforov predicted that up to 75% of Europe’s registered crypto companies (VASPs) will lose their status if they fail to get a MiCA license in time, which is by mid-2025.
So far, some of the key industry players such as Circle, OKX, BitGo Europe, MoonPay, among others, have obtained licenses. However, other global crypto players like Binance, Kraken, and Tether are not listed in the EU region. Interestingly, most of them have started the application process.
“Without a MiCA license, there’s no passporting of services across the 30 EEA countries — that’s why the industry is moving fast. The race is on to gain market share,” said Hansen in an April post.
