Perpetuals.com Ltd. (NASDAQ: PDC) announced that its subsidiary, Perpetual Markets MTF, has received approval from the Cyprus Securities and Exchange Commission (CySEC) to provide crypto-asset services under the European Union's Markets in Crypto-Assets Regulation (MiCA). The authorization allows the company to operate a crypto-asset trading platform, offering services such as custody and administration, order execution, order reception and transmission, and crypto-asset transfer services.
This approval builds on Perpetuals' existing MiFID II-regulated multilateral trading facility (MTF) and leverages the MiCA cross-border notification framework to offer these services across all EU member states. As a result, Perpetuals is positioned to provide brokers and institutions with white-label access to regulated European crypto services through its infrastructure. This move is pivotal as it aligns with the EU's comprehensive regulatory framework for crypto assets, which aims to enhance consumer protection and market integrity.
The significance of this development lies in the growing institutional demand for regulated digital asset services. By obtaining MiCA authorization, Perpetuals can now cater to this demand with a compliant offering, potentially attracting clients who seek a secure and regulated environment for crypto trading. The company's technology, including its Kronos X platform, combines advanced AI and data analysis, trained on billions of trades, to monitor market activity in real time and identify patterns for trading and risk decisions.
Perpetuals' mission is to reduce risk by empowering retail users with intuitive, secure, and efficient trading experiences across multiple asset classes. The company's licensed European MTF infrastructure and Kronos X platform operate with full compliance to MiFID II, MiCA, DORA, and EMIR. This authorization under MiCA is a strategic advancement, enabling the company to expand its footprint in the European crypto market and potentially increase its market share.
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