The European Union’s recently-adopted Markets in Crypto Belongings (MiCA) rules is starting to reshape the area’s digital-asset business, creating new alternatives and obstacles for companies looking for to function throughout the bloc, a Swiss-based crypto wealth platform mentioned.
Swissborg, which boasts a million registered customers and $1.3 billion in belongings below administration (AUM), is among the many corporations betting that the shift will strengthen Europe’s position in regulated digital-asset markets after securing its MiCA license.
“The economics of crypto brokerage will be difficult throughout softer market cycles, and a few world platforms could reassess the place they allocate capital and operational sources,” SwissBorg Chief Working Officer Jeremy Baumann instructed CoinDesk.
Over time, that might result in “a market composed of fewer however extra resilient gamers. MiCA raises the regulatory and operational requirements required to serve European purchasers, which can scale back the variety of evenly structured gamers,” he mentioned, referring to Gemini’s current EU exit.
Baumann additionally mentioned that when world exchanges scale back their presence within the EU, “it opens house up for different European gamers to strengthen their positioning.”
SwissBorg suffered an exploit it mentioned affected fewer than 1% of its customers in September 2025. It reported 192,600 SOL ($41.5 million) was stolen from an exterior pockets used solely for its SOL Earn technique. The exploit stemmed from a companion’s compromised software programming interface (API) and never a hack of the SwissBorg platform, they claimed.
The evolution of yield and staking
Baumann mentioned he expects yield and staking merchandise to evolve towards clearer disclosures, stronger danger administration and extra standardized constructions.
“The framework round stablecoins is extra detailed and can form how sure yield fashions are designed and distributed,” mentioned Baumann, whose mid-level trade at the moment has roughly $800 million in whole worth locked (TVL), in keeping with Defilama information.
Baumann additionally mentioned regulatory readability may progressively help larger institutional participation, including that for now the European digital-asset market stays largely retail-driven
“Conventional monetary establishments can play all three roles,” Baumann mentioned. “They’ve sturdy distribution capabilities and regulatory experience, which naturally makes them opponents in some areas, however there are additionally alternatives for partnerships.”
EU regulators search clear stablecoin guidelines
Baumann additionally pointed to ongoing coverage debates round stablecoins and yield merchandise. Whereas a lot of that dialogue is at the moment centered in america, European regulators are focusing totally on defining clear guidelines round issuance, reserves and distribution.
“Because the market matures, yield options are more likely to evolve towards extra clear and higher structured fashions that steadiness innovation with monetary stability,” he mentioned.
SwissBorg sought authorization in France, which is extensively considered as one in every of Europe’s stricter regulatory jurisdictions. The approval validates the corporate’s inside controls, danger administration methods and safeguards for person belongings, in keeping with the agency.
The corporate plans emigrate its European operations from its present Estonian entity to the newly licensed French crypto-asset service supplier (CASP) entity within the coming months as soon as operational readiness is confirmed, initially focusing on main crypto markets together with Germany, the Netherlands, Italy and Spain.