Webull wins MiCAR approval to launch crypto services across Europe
Webull EU has received MiCAR approval from the Netherlands’ AFM, putting the brokerage in position to roll out regulated crypto services in Europe. The launch is set to begin in the Netherlands, with broader EU expansion depending on passporting and other regulatory steps.
- MiCAR approval: granted by the Netherlands’ AFM
- First rollout: planned for the Netherlands
- Expansion path: EU passporting still pending
- Setup: custody by Webull EU, execution via Coinbase Luxembourg
This is the part of crypto adoption that does not come with laser eyes and victory laps. It comes with regulators, custody controls, execution partners, and a lot of legal paperwork. But that is exactly why it matters. In Europe, MiCA is turning regulated crypto access from a marketing slogan into a licensing exercise with real consequences.
According to the information provided, Webull EU secured MiCAR approval from the Netherlands’ Autoriteit Financiële Markten (AFM). The company plans to start in the Netherlands first, then expand across the European Union through passporting if and when the remaining approvals are in place.
MiCAR, short for Markets in Crypto-Assets Regulation, is the EU’s framework for crypto services. In plain English, it is the rulebook that decides which firms can legally offer crypto products to European users and under what conditions. The big attraction is passporting: once a firm is authorized in one member state, it may be able to offer covered services in other EU countries without applying for a fresh license in each one.
That is the practical value here. Instead of building a crypto business country by country, a firm can try to win one solid approval and scale from there. It is a cleaner model than the old patchwork approach, even if the process is still far from frictionless.
Webull said client crypto assets will be held in custody by Webull EU, while Coinbase Luxembourg S.A. will handle trade execution. Custody means safekeeping the assets; execution means actually carrying out the buy and sell orders. In other words, Webull is aiming to provide a regulated front-end experience while leaning on established infrastructure behind the scenes.
Andries van Luijk, CEO of Webull Securities (Europe), called the approval an “important milestone” in the company’s European ambitions. He said it opens the door to “regulated access to digital assets under the EU’s new framework.”
“We are pleased to have received MiCAR approval from the AFM, marking an important milestone in Webull’s European ambitions, ”, Andries van Luijk, CEO of Webull Securities (Europe)
That sounds mundane only if you think regulation is boring. It is not. Regulation decides who gets to play, who has to leave, and who gets shoved into the corner with a fake badge and a hope-and-prayer compliance stack.
There is also a bigger point hiding in the weeds: MiCA is becoming the main entry point for firms that want to operate openly and at scale in Europe. That is good news for users who want clearer protections and more credible platforms. It is less friendly to the cowboys, the half-baked offshore outfits, and the “trust us, bro” merchants who treated compliance like a decorative tax.
Still, MiCA is not a free lunch. Licensing brings costs, reporting duties, custody requirements, and more operational scrutiny. That tends to favor larger firms with the resources to do things properly. Smaller players may struggle, and some will simply decide Europe is not worth the headache. That is the tradeoff: more legitimacy, but a higher bar to entry.
Webull’s timing is also worth watching. The company said the rollout is planned for late 2026, but that still leaves room for regulatory delays and product adjustments. Passporting approval is also still pending, so the company has a path forward, not a finished road map.
That distinction matters. Approval in one country does not automatically mean seamless access to the whole European market. MiCA is designed to reduce fragmentation, but it does not erase it overnight. Transitional arrangements, national implementation differences, and supervisory steps still shape how fast firms can move.
Recent moves by other firms show how seriously the new framework is being taken. Ripple said it received a full Crypto Asset Service Provider (CASP) licence from Luxembourg’s Commission de Surveillance du Secteur Financier. Ripple said the approval completed its MiCA requirements and expanded its regulated payments business to all 30 EEA countries, though that remains the company’s framing of the scope. Bridge also secured a MiCA CASP authorization and an Electronic Money Institution (EMI) licence in Luxembourg, supporting euro-backed stablecoin infrastructure, virtual IBANs, and cross-border euro payment services.
Luxembourg is starting to look like a serious licensing hub for firms that want a clean European base. The Netherlands, meanwhile, may prove useful as an early foothold for platforms that want to launch quickly and scale later. The pattern is becoming obvious: the firms willing to do the paperwork are the ones building for the next phase of the market.
And yes, there is a dark side to all of this. Rules that protect users can also narrow access, raise costs, and push innovation toward firms large enough to absorb the compliance burden. Crypto was supposed to make finance less gated, not just replace one gatekeeper with a shinier one. If Europe is not careful, the sector could end up safer but also more clubby, more expensive, and less open to smaller builders.
Even so, the direction of travel is clear. Europe is not rejecting crypto; it is deciding which version of crypto gets to show up in public. The result is a market where legitimacy increasingly depends on regulation, not hype. That may not thrill the crowd that still thinks memes are due diligence, but it is a serious step toward mainstream adoption.
Key questions and takeaways
-
Why does Webull’s MiCAR approval matter?
It gives Webull a regulated path into Europe’s crypto market under the EU’s framework. For a mainstream brokerage, that is a meaningful step toward offering digital assets alongside more traditional investments. -
What is passporting?
Passporting lets a firm authorized in one EU country potentially offer covered services in other member states under the same regulatory umbrella. It is one of MiCA’s biggest advantages, but it still depends on the right approvals being in place first. -
Who handles custody and execution?
Webull EU said it will custody client crypto assets, while Coinbase Luxembourg S.A. will handle trade execution. That separation matters because holding assets safely and executing trades are different responsibilities. -
Is this launch happening immediately?
No. The rollout is planned for late 2026, and passporting approval is still pending. Webull has made progress, but the wider expansion is not yet a done deal. -
What does this mean for everyday users?
It could mean access to crypto through a more familiar, regulated investment platform. That may be less exciting than the old wild-west pitch, but it is also a lot harder for bad actors to hide behind it. -
Is Europe becoming friendlier to crypto?
Yes, but mostly for firms that are willing to comply. MiCA is opening the door for legitimate businesses while making life much harder for sloppy operators and regulation-averse platforms. -
Does this help Bitcoin specifically?
Indirectly, yes. More regulated access can make it easier for mainstream users to buy Bitcoin and other digital assets. But MiCA is a framework for crypto services, not a Bitcoin endorsement.
Webull’s approval is a useful sign of where the market is heading: toward regulated access, cross-border scaling, and a lot less tolerance for nonsense. The crypto firms that can survive that environment will be the ones built for the long haul. The rest can keep shouting on social media. Europe clearly wants receipts.
For readers tracking the broader regulatory picture, the About Interim MiCA Register page from ESMA is a useful reference point, especially if you want to see how supervisors are handling the transition. The Netherlands’ AFM also maintains guidance on Understanding Cookie Types and Their Functions, which sounds oddly innocent for a regulatory page but is part of the compliance maze firms have to navigate.
For a broader overview of how Europe’s framework is being packaged for institutions, MiCAR Explained: What Europe's Crypto Framework Means breaks down the practical implications for financial services and digital asset companies. And for those who prefer a more direct market angle, Webull Receives Approval to Offer Crypto in the European offers the company’s own framing of the approval.
There is also a useful comparison point from another region: Webull Launches Crypto Trading in Australia with Coinbase shows how the brokerage has approached crypto expansion elsewhere, including the very non-glamorous reality of scam pressure and market risk. And if you want a recent headline that shows how momentum is building across the industry, Webull wins MiCAR approval to launch crypto services across captures the same development from another angle.
