CEX.IO Strikes Gold in Spain: Central Bank Greenlights VASP License for Crypto Expansion
Another day, another crypto exchange playing nice with regulators—but this time with actual paperwork.
CEX.IO just pulled off a regulatory hat-trick in Europe, securing Spain’s coveted VASP license from the Bank of Spain. No more lurking in regulatory gray zones—this is full-fat compliance.
The move kicks open doors for EUR onboarding and institutional deals in one of Europe’s most crypto-curious markets. Because nothing screams ''legitimacy'' like a central bank’s rubber stamp—even if it’s the same institutions that once called Bitcoin ''a tool for criminals.''
Spain’s crypto scene just got a new heavyweight contender. Watch out, local incumbents—the compliance game just leveled up.
Hola, Spain! Thanks to our Virtual Asset Service Provider (VASP) registration from the Bank of Spain, CEX•IO is getting closer to launching our services in the region.
We''re also working hard to secure even more licenses, including the MiCA license, as part of our… pic.twitter.com/BYvR9qgf54
— CEX.IO (@cex_io) June 11, 2025
The platform allows buying and selling crypto, spot trading, staking, and savings. The supported payment methods include card transactions and SEPA (Single Euro Payments Area) to deposit funds, as well as SEPA to withdraw assets.
Eduardo Marin, CEX.IO Managing Director in Spain, said that “securing a local license enables us to better tailor our services to the market and strengthen our presence. Based on current momentum, we anticipate continued growth in the region.”
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Managing Director Marin further commented that CEX.IO chose Spain as the second European hub because it has emerged “as a leader in cryptocurrency adoption, with a steadily growing user base.”
The exchange’s internal data showed that in Q1 2025, wallet transaction volume among Spanish users surged by 94% quarter-over-quarter. At the same time, spot trading volume jumped by more than 340%.
Furthermore, per, revenue in Spain’s crypto market is projected to reach $1.3 billion this year.
But the exchange will not stop here, the team says. This license is part of its broader strategy, as it’s pursuing more of them. CEX.IO is currently in the process of acquiring a MiCA license, which will enable it to significantly grow its presence in the European Union.
At the time of writing, the exchange holds 40 licenses and registrations worldwide. This includes 35 Money Transmitter Licenses (MLTs) in the US, a license in Spain, a registration in Lithuania, and a FINCEN registration.
Meanwhile, in September 2024, CEX.io partnered with financial services companyand theblockchain to boost its crypto cash-in and cash-out capabilities. This way, the exchange’s users gained access to conversion between USDC and cash.
The integration initially targeted customers across the European Economic Area (EEA), Africa, and Latin America.
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