Acheron Trading, a crypto hedge fund and market making firm has ecured a Crypto-Asset Service Provider (CASP) license under the Markets in Crypto-Assets Regulation (MiCA) from the Dutch Authority for the Financial Markets (AFM) making it the first dedicated CASP-licensed market maker.
The authorisation will be included in the public registers held by AFM, respectively, the European Securities Markets Authority (ESMA).
Since 30 December 2024, when MiCA came into effect, only a few crypto companies have been granted a CASP license by the AFM, and no dedicated market maker has obtained a CASP license under the new regime from any European regulating authority – until today. Given the critical role market makers play in token price discovery and the crypto asset markets’ very existence, the importance of their licensing for Europe-based projects cannot be overstated.
“Europe has seen steady crypto adoption among retail, corporate, and institutional investors, making it a strategic market for us and market makers more broadly,” said Laurent Benayoun, CEO of Acheron Trading. “As the first unified regulatory framework for crypto, MiCA positions Europe as a first mover in the industry, and now Acheron is following in those footsteps. We look forward to seeing more CASP service providers – especially exchanges, licensed in the following months, unlocking the full potential of the crypto market in the EU.”
Acheron’s CASP license approval comes less than a year after the firm announced the appointment of its new Chief Legal Officer, Daniel Lo, who was instrumental in the success of the licensing process.
According to a press statement, Acheron Trading is actively pursuing licenses in other jurisdictions.
