A CASP (Crypto-Asset Service Provider) is the entity authorized under MiCA to provide services on crypto-assets, such as custody, exchange or execution of orders. Authorization is required for providing those services to third parties; not for issuing an instrument of its own, and even less when what is issued is a financial instrument.
A CASP is one of the terms that come up most when talking about regulated tokenization. Here it is explained clearly, with the regulation that frames it.
What is a CASP
A CASP (Crypto-Asset Service Provider, provider of crypto-asset services) is the entity authorized under MiCA to provide services on crypto-assets (custody, exchange, order execution, placement or advice, among others). In Spain it is supervised by the CNMV.
In practice, it is the bank of the crypto world. An already authorized credit institution can provide CASP services by notification (Art. 60 MiCA); the rest need full authorization (Art. 63 MiCA). We cover this in banks with a MiCA license in Spain.
Frequently asked questions
What does CASP mean?
Provider of crypto-asset services (Crypto-Asset Service Provider), a figure regulated by MiCA and supervised in Spain by the CNMV.
Do I need to be a CASP to issue a security token?
No. Security tokens are outside MiCA (art. 2(4)) and are governed by Ley 6/2023 (LMVSI). Being a CASP is for providing services on MiCA crypto-assets, not for issuing securities.
More terms in the tokenization glossary.
Notice
Informational content. It does not constitute legal, tax or investment advice. Check the current version of the cited rules on BOE and EUR-Lex.
HokenFi is a software and infrastructure provider; it does not provide regulated services (CASP, ESI, EAF, or ERIR). This article is informative and does not constitute financial or legal advice.
