Bitcoin Services Get a Boost in Europe
A Milestone Under MiCA Regulations
A Dutch company, Blockrise, has just received a special permit to offer Bitcoin services across Europe. This permit is under a new set of rules called MiCA, designed to make crypto services safer and more reliable.
Services and Offerings
Blockrise can now offer services like:
- Keeping Bitcoin safe
- Trading Bitcoin
- Managing Bitcoin investments
These services can be provided in any European country, adhering to strict rules to protect customers.
Introducing Bitcoin-Backed Loans
Blockrise is introducing a new service: Bitcoin-backed loans for businesses. These loans start at 20,000 euros. Customers can use their Bitcoin as collateral to get a loan. The interest rate is 8%, but it can change every month.
The Scope of MiCA Regulations
The MiCA rules don't cover everything yet. For example, they don't regulate lending services like the one Blockrise is offering. However, the company's CEO is hopeful that the rules will expand in the future to include more services like lending, mining, and payments.
Company Background and Unique Wallet Structure
Blockrise was founded in 2017. They offer a special kind of wallet for their customers. It's not a traditional self-custody wallet where users have full control with a private key. Instead, customers have a digital key from Blockrise that can only be used on their platform. This key, combined with Blockrise's security measures, is needed to make transactions.
Managing Customer Assets
The company currently manages about 100 million euros in customer assets. However, the CEO points out that measuring assets under management is tricky because of their unique wallet structure.
