Sekabank, a Spanish wholesale bank, has been approved by the National Securities and Markets Commission (CNMV) to provide a cryptocurrency linked service that has been announced to be on sale.
Approval is part of the European Mica Regulations (the cryptocurrency market), and Sekabank are positioned as one of the first entities in Spain to obtain this type of license.
Since the beginning of 2024, the entity has already been registered as a Virtual Asset Services Supplier (PSAV) in the Bank of Spain Register, and is now officially registered as a MICA Supplier in front of the European Stock Market (ESMA) in the green light of CNMV.
With this qualification, Cecabank enables facility clients to access a variety of cryptographic servicesincluding monitoring, management, order communication, and digital assets transfer.
As the first phase, Cryptocurrency supply is limited to Bitcoin (BTC), Ethher (ETH), and USD Coin (USDC) stability approved by MICA. The company has stated that these assets have been selected after a thorough internal assessment process taking into account technical, operational and regulatory standards.
These operations take place within an environment designed to provide maximum guarantees in legal, operational and regulatory compliance conditions.
According to a statement issued by the company, this approval is a key step within Sekabank’s strategic plan, seeking to strengthen its leadership in post-tracing services and strengthen its presence in the digital space.
“Getting a MICA license is an important strategic step in our roadmap as a professional custodian bank,” said Aurora Picolos, corporate director of securities services at Sekabank.
“Our goal is to apply the same level of excellence we provide in traditional financial services to our digital assets through a secure, regulated, fully integrated infrastructure,” Pictures said.
CNMV approval confirms that it has been planned, consistent with a recent statement the Spanish body gave to encryption Approve bank requests to provide cryptocurrency in the coming weeksafter approval BBVA.
It should be noted that in May, Sekabank and Spain’s Exchange BIT2ME announced a joint platform aimed at promoting access to banks (both traditional and digital) sales and crypto-active custody.
BIT2ME provides trading and custody infrastructure in cold wallets, while Cecabank assumes responsibility for regulatory compliance, risk management and development of technical architectures.
New announcement Arrived with institutional adoption of increasing digital assetsis facilitated by advances in regulatory developments and increased interest in banks and governments. Bitcoin prices reached a new historical maximum of $122,000 (USD) this month.
While Europe is promoting the implementation of MICA regulations, in the US, recent approval of the Genius Act shows a milestone in regulating stubcoin. The regulations propose a clear framework for issuance and support of these digital assets, requiring 1:1 parity between dollars and regular audits.