DriveWealth has obtained MiCA authorization from the Bank of Lithuania and will launch cryptocurrency asset services in the European Union in phases

According to a report by Business Wire, the U.S. brokerage infrastructure provider DriveWealth announced that its European affiliate UAB DriveWealth Europe has been authorized by the Bank of Lithuania to become a crypto asset service provider under the EU's Markets in Crypto-Assets Regulation (MiCA). DriveWealth plans to gradually open related services to partners starting in 2027, with specific launch dates to be announced later.

UAB DriveWealth Europe previously held a MiFID II license issued by the Bank of Lithuania. After the launch of crypto asset services, banks, fintech companies, digital wallets, and brokerages can access crypto asset services along with existing investment services such as U.S. stocks, ETFs, fixed income products, and options through the same interface.

DriveWealth also announced a partnership with Ripple, planning to introduce RLUSD stablecoin settlement, cross-border payments, and digital asset custody in Europe first.