European crypto platform CheckSig raises 350 million yuan, paving the way for compliance with the MiCAR license

Europe’s “Encryption-as-a-Service” platform CheckSig announced recently that it has completed a €3.5 million funding round, valuing the company at €33.5 million. This is the company’s second funding round this year, with a total funding amount reaching €6.2 million. More importantly, CheckSig has obtained the European MiCAR (Markets in Crypto-Assets Regulation) license, becoming one of the few crypto service providers to hold this license. This funding reflects the continued optimism in the European crypto market for compliant platforms.

Funding Progress and Platform Positioning

CheckSig’s recent funding round demonstrates investor confidence in its growth prospects. From the funding data, the platform has completed two funding rounds in the short term, with a total of €6.2 million raised, indicating that its business model and market positioning have gained capital recognition.

CheckSig’s core positioning is “Encryption-as-a-Service,” meaning it provides a one-stop crypto asset solution for individual and institutional investors, rather than just trading tools. Its main services include:

• Crypto Asset Custody: Secure storage of users’ digital assets
• Crypto Trading Services: Providing trading execution capabilities
• Tax Withholding and Payment: Handling tax compliance for crypto earnings

This service combination reflects the platform’s understanding of users’ full lifecycle needs, especially emphasizing the long-neglected area of tax compliance.

Regulatory Significance of the MiCAR License

CheckSig obtaining the MiCAR license is the most noteworthy part of this funding. MiCAR is the EU’s crypto asset market regulation framework launched in 2023, aiming to establish unified rules for the European crypto market. Obtaining this license means CheckSig has met Europe’s strictest crypto service regulatory standards.

Under the MiCAR framework, crypto service providers must meet strict requirements in risk management, user protection, anti-money laundering, and more. The barriers to obtaining such licenses are high, and the number of licensees is relatively small. CheckSig’s acquisition of the MiCAR license this year indicates that its compliance operations and capabilities have been recognized by regulators.

For investors, the MiCAR license is an important trust signal. It shows that key aspects such as asset custody and trade execution are operating within a regulated framework, providing stronger security for user funds.

New Opportunities in the European Crypto Market

CheckSig’s funding and the acquisition of the MiCAR license reflect an important transformation in the European crypto market: from rapid growth to regulated development. This shift creates new opportunities for compliant platforms.

With a clear regulatory framework, barriers for institutional investors entering the crypto market are significantly lowered. Compliant platforms can thus attract more institutional clients, who typically have larger assets and higher stickiness. Meanwhile, individual investors are more inclined to choose licensed and regulated platforms to reduce risks.

Completing the funding at this point indicates that market participants have recognized the opportunities brought by regulation. If Europe’s crypto market continues to develop in a regulated manner, the competitive advantage of compliant platforms will further emerge.

Summary

There are three key points to note about CheckSig’s funding and MiCAR license acquisition. First, this reflects ongoing market enthusiasm in Europe for compliant platforms, indicating confidence in the trend toward regulation. Second, the MiCAR license is an important indicator of the platform’s competitiveness, laying a foundation for future institutional client expansion. Third, “Encryption-as-a-Service” platforms are becoming mainstream, especially with increased attention to long-neglected needs such as tax compliance, signaling industry maturity. As Europe’s crypto regulatory framework continues to improve, compliant platforms like CheckSig may encounter more development opportunities.