Types of CASP license services: the 10 MiCA crypto-asset services
A CASP (Crypto-Asset Service Provider) license, introduced by the EU's MiCA regulation, allows a firm to provide 10 specific types of crypto-asset services. Which of these services a firm is authorised for determines the level of required procedures and the amount of its initial capital.
MiCA defines exactly 10 crypto-asset services (Article 3(1)(16) MiCAR), labelled (a) to (j). A MiCA (CASP) license never covers “crypto” in general: each of the 367 providers in the ESMA register is authorised for its own subset of these services and may only offer those. Below, each service is explained in plain language, with the number of licensed providers, verified on 14 October 2026.
The CASP license, at a glance
A Crypto-Asset Service Provider is a company authorised under MiCA to provide regulated crypto-asset services to clients in the EU/EEA - one national licence, valid across every member market.
10 regulated crypto-asset services
Minimum capital, by class
Source: official ESMA register, via casptracker.eu
Catalog of the 10 CASP license services
The short labels in the third column are the ones used in the Services column of our MiCA license list. Click a service for its explanation, or a count to see the providers licensed for it.
Custody & administration of crypto-assets
Custody and administration means safekeeping clients' crypto-assets, or the private keys that control them, on the clients' behalf. It is the service that allows a provider to legally hold your coins for you.
In practice: when you leave crypto on an exchange instead of your own wallet, the exchange is providing custody. MiCA requires custodians to segregate client assets from their own and makes them liable for the loss of crypto-assets held in custody.
229 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Operation of a trading platform
Operating a trading platform means running the marketplace itself: a system where multiple buying and selling interests in crypto-assets meet and match. It is the “exchange” function in the strict sense of the word.
Far fewer providers hold this service than you might expect: many consumer apps do not run their own order book but send orders to someone else's platform instead (see services e and g).
22 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Exchange of crypto-assets for funds
Exchange of crypto-assets for funds means buying crypto from clients or selling it to them for fiat money (such as euro), dealing at prices set by the provider and using its own capital.
This is the classic “buy Bitcoin with EUR” service of a broker or exchange app, and one of the most commonly authorised services in the register.
187 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Exchange of crypto-assets for other crypto-assets
The same dealing service as (c), but crypto-to-crypto: swapping one crypto-asset for another (for example BTC for ETH) against the provider's own capital.
Providers that offer swap or convert features typically hold services (c) and (d) together.
153 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Execution of orders on behalf of clients
Execution of orders means concluding a client's buy or sell orders for crypto-assets on their behalf, for example by filling them on a trading platform. It is the brokerage “place the trade for me” service.
The difference from services (c) and (d): under (e) the provider acts in the market on your order, instead of dealing with you directly from its own account.
205 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Placing of crypto-assets
Placing means marketing crypto-assets to buyers on behalf of the issuer or seller, typically when a new token is offered to the market. It is the crypto equivalent of a bank placing a new securities issue.
This service is aimed at issuers rather than retail users, which is why only a minority of providers hold it.
36 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Reception & transmission of orders
Reception and transmission means taking a client's order for crypto-assets and passing it on to another firm for execution, rather than executing it yourself. In our list this service is shortened to “Order routing”.
It is typical for apps and brokers that offer trading through another exchange's liquidity instead of running their own.
100 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Advice on crypto-assets
Advice means offering or giving a personalised recommendation to a client about one or more crypto-assets, either at the client's request or at the provider's initiative.
General market commentary or education is not “advice” in the MiCA sense: the recommendation has to be personalised, presented as suitable for you.
45 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Portfolio management of crypto-assets
Portfolio management means managing a client's crypto portfolio on a discretionary, client-by-client basis: within the mandate the client gives, the provider makes the investment decisions.
This is the licensed “managed account” service. Portfolio-tracker apps that only display your holdings do not need it; deciding what to buy and sell for you does.
58 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Transfer services for crypto-assets
Transfer services mean transferring crypto-assets from one distributed-ledger address or account to another, on behalf of a client.
The service covers moving clients' coins (for example payment-style transfers between wallets); it was added as a separate item precisely because moving crypto is a risk point of its own.
214 of 367 licensed providers are authorised for this service. See them in the MiCA license list
Why does it matter which services a provider is licensed for?
Because a MiCA license is service-specific: a provider may only offer the crypto-asset services listed in its authorisation. A firm licensed only for order routing (g) and advice (h) is not allowed to hold your crypto or run a trading platform. Before you rely on a provider for a specific activity, check that this activity actually appears in its authorisation.
The Services column of our MiCA license list shows this scope for every provider, straight from the ESMA register. As of 14 October 2026, the most commonly authorised service is Custody & administration of crypto-assets (229 of 367 providers) and the rarest is Operation of a trading platform (22 providers); 0 providers hold all 10.
How do I check which services a provider is licensed for?
Open the MiCA license list and find your provider: search by name or paste its website address. The Services column lists its authorised services as short labels (hover over one for a description), and the Details view spells each service out in full.
To verify at the primary source, open the official ESMA register: the services field of each entry lists the same services in their formal wording.
FAQ about the 10 CASP license services
How many crypto-asset services does MiCA define?
Ten. Article 3(1)(16) of MiCA (MiCAR) lists services (a) to (j): custody and administration, operation of a trading platform, exchange of crypto-assets for funds, exchange for other crypto-assets, execution of orders, placing, reception and transmission of orders, advice, portfolio management and transfer services.
Can a CASP offer services it is not authorised for?
No. A CASP may only provide the crypto-asset services listed in its authorisation. To add a service it must extend the authorisation with its national regulator; the change then appears in the ESMA register.
Which MiCA service covers crypto custody?
Service (a), custody and administration of crypto-assets on behalf of clients. As of 14 October 2026, 229 of the 367 licensed providers are authorised for it, which makes it the most common service in the register.
What is the difference between service (c) and service (d)?
Service (c) is the exchange of crypto-assets for funds, meaning fiat money such as euro; service (d) is the exchange of crypto-assets for other crypto-assets (crypto-to-crypto swaps). Both are dealing services provided against the provider's own capital.
Do all licensed providers offer all 10 services?
No. Most authorisations cover only part of the list: the average register entry has about 3 services, and 0 of the 367 providers hold all 10. The exact set for each provider is shown in our MiCA license list and in the ESMA register.
Where can I verify a provider's authorised services?
In our MiCA license list (the Services column and the provider details) or directly in the official ESMA register of crypto-asset service providers, which is the primary source. Both list, for every provider, exactly the services its MiCA (CASP) license covers.
Check your provider's licensed services
Search any of the 367 authorised providers and see exactly which MiCA services its license covers.
Open the MiCA license list