Just days before MiCAR’s deadline, STOKR has obtained CASP and PI licences from the CSSF, clearing it to operate across the EU.
The Luxembourg-based digital securities platform now holds both a Crypto-Asset Service Provider (CASP) licence and a Payment Institution (PI) licence, allowing it to handle custody, transfer, and payment of crypto-assets and stablecoins for clients across all 27 EU member states. “We are proud to have obtained one of the most demanding licences in the world,” said Tobias Seidl, Co-Founder & CEO of STOKR. The authorisation arrives just as MiCAR’s grandfathering period expires on 30 June, forcing unlicensed providers — including Binance in Europe — to suspend services.
“Luxembourg has the most flexible corporate law in the EU, meaning tokenisation was possible from day one.”
Tobias Seidl, Co-Founder & CEO of STOKR
Q&A with Tobias Seidl, Co-Founder & CEO of STOKR
We caught up with Tobias Seidl to unpack what STOKR actually does, and why this licence matters so much right now.
For readers discovering STOKR for the first time — what does your platform actually do?
STOKR allows issuers to tokenise their securities on blockchain, and investors to invest in this new type of securities. This creates a direct relationship between issuers and investors, enabling new use cases such as using securities as collateral, peer-to-peer transfers, instant payouts for money market funds, and direct investor control over their holdings.
What can STOKR do today that it couldn’t do before?
The CASP and PI licences are essential for any crypto-asset service provider to operate at all. They now signal to any potential client that we adhere to the highest standards, with state-of-the-art technology and compliance.
Why does the 1 July deadline matter so much for crypto companies in Europe right now?
On 30 June, the grandfathering period runs out for crypto-asset service providers who were active before MiCAR came into force. After this date, it will no longer be possible to offer crypto-asset services in the EU without a licence — Binance, for instance, must suspend its European services starting tomorrow.
What does this licence change concretely for the asset managers and fund administrators you work with?
Established players prefer working with licensed companies. Without a licence, their compliance teams would need to run an extended, lengthy due diligence process — or simply wouldn’t approve the partnership at all.
STOKR has been based in Luxembourg since 2018 — why that choice, and what role does the country play in Europe’s digital asset ambitions?
Luxembourg has the most flexible corporate law in the EU, meaning tokenisation was possible from day one — any company can hold its own investor register, which is the basis of tokenisation’s added value. Luxembourg has also shown a strong drive toward tokenisation, especially under the new finance minister, and crypto companies are increasingly establishing themselves there, bringing talent and synergies.
