Utorg, a crypto wallet and card provider built on institutional-grade infrastructure, confirmed it has been granted full authorization under the European Union’s Markets in Crypto-Assets regulation, effective July 1, 2026 - the date when the regulation’s transitional period concluded and unauthorized crypto-asset service providers lost the legal right to serve users in the European Economic Area.
The approval follows a regulatory review of Utorg’s products, operations, and compliance systems. The company, which supplies regulated on/off-ramp rails, wallet infrastructure and stablecoin capabilities to businesses in more than 130 countries, is now authorized to operate across all 29 EEA member states, a combined market exceeding 450 million people.
MiCA establishes the first unified EU rules for crypto-assets, setting binding standards on consumer protection, transparency and financial integrity across member states. For end users, authorization under MiCA introduces several safeguards that previously did not apply across the EU: companies must segregate client funds from corporate assets, disclose fees upfront, and provide a legal route to lodge complaints with a national regulator. Under the regime, if a MiCA-authorized platform fails, user assets are protected under EU law rather than being subject to an offshore jurisdiction’s discretion.
Utorg’s authorization also triggers ongoing supervisory obligations. The platform is now subject to regular reporting and review under EU financial law, meaning continuous oversight of its compliance framework and operations.
Industry context
July 1, 2026 marked the end of MiCA’s transitional window - the moment providers without full authorization could no longer lawfully serve EEA users. In the run-up to that deadline, a notable portion of the market either withdrew from or restricted service to European customers. Utorg is positioned among a small number of platforms that completed the full authorization process and remained operational on day one of the new regulatory environment.
Eugene Petrakov, Co-founder of Utorg, said: “Most of the industry spent the last two years hoping MiCA would get delayed or softened. We spent it building toward it. For European users, July 1 means fewer options, stricter standards, and a much shorter list of platforms they can actually trust. We intend to be at the top of that list, not just because we’re authorized, but because we built a product that is safe by design. The license confirms what was already true.”
Products available to EEA residents
From July 1, EEA users can access Utorg’s full product suite via the Utorg App. The offering includes a self-custodial crypto wallet that supports buy, send, receive, store and swap functionality across more than 170 cryptocurrencies and 14 blockchains, including Bitcoin, Ethereum and Solana. As a non-custodial wallet, Utorg does not have access to users’ funds at any time.
Utorg also continues to issue a crypto card accepted at more than 80 million merchants worldwide, with support for Google Pay and Apple Pay and no fees for issuance, maintenance or top-ups. The card operates under the AML and KYC compliance requirements mandated by MiCA, ensuring cardholders benefit from the legal protections provided by EU law.
For card processing, Utorg holds a PCI DSS Level 2 certificate under the Payment Card Industry Data Security Standard, the same framework used across the traditional payments industry. This certification governs how card numbers, transaction records and personal data are stored, processed and transmitted. Utorg’s compliance with PCI DSS Level 2 is verified through regular independent audits.
Company profile
Founded in 2019, Utorg operates across more than 130 countries and supplies regulated rails, wallet infrastructure and stablecoin solutions to fintechs, exchanges, digital asset platforms and other businesses. Its consumer app, which the company says is used by over 2 million people, offers a self-custodial multi-chain wallet and a complimentary Visa crypto card, available on Android and on iOS in July. Utorg is MiCA-authorized and maintains PCI DSS Level 2 certification.
What this means for markets and sectors
- Payments and fintech: Platforms offering crypto payment cards and merchant acceptance must meet MiCA-aligned AML, KYC and data security standards to operate in the EEA.
- Crypto infrastructure: Providers of on/off ramps, wallets and stablecoin services that secure authorization are positioned to retain or expand access to the sizeable EEA retail and institutional market.
- Consumer protection and legal frameworks: The MiCA regime enshrines legal protections for users and obliges ongoing supervisory reporting from authorized providers.
Contact
CMO Andrey, Utorg - [email protected]