MiCA Crypto Alliance at the European Blockchain Convention
At the 11th Edition of the European Blockchain Convention, MiCA Crypto Alliance’s General Secretary, Juan Ignacio Ibañez, moderated a high-level panel on “MiCA Licences’ Competitive Advantage for Customer Acquisition.” The discussion gathered industry leaders from OKX, Bullish, Venga, Bitvavo, and Bybit to explore how MiCA licensing is reshaping market trust, competition, and institutional engagement in Europe’s crypto ecosystem.
Trust and Credibility as Business Drivers
Across the panel, a recurring theme emerged: trust is a driver of growth.
Erald Ghoos (OKX) and Marco Bodewein (Bullish) emphasised how obtaining a MiCA licence dramatically strengthened institutional partnerships and customer confidence. MiCA-regulated status is now a critical differentiator for exchanges, especially when engaging banks, brokers, and payment providers.
Erald Ghoos (OKX) and Marco Bodewein (Bullish) emphasised that obtaining a MiCA licence strengthened institutional partnerships and customer confidence, including with European payment providers, eID solutions, and data brokers. For startups, as Michael Stroev (Venga) noted, building “MiCA-native” platforms from the outset can provide credibility. Bitvavo’s Marijn van de Ven highlighted that retail and institutional users increasingly value compliance as a signal of reliability.
Collaboration Between Banks and Exchanges
Panellists observed that MiCA is enabling closer collaboration between banks and exchanges.
Banks such as BBVA and Santander are entering the market under MiCA, and Bullish described MiCA as a bridge between TradFi and DeFi. Bybit’s Mazurka Zeng pointed to the regulation’s potential to support cross-industry collaboration among Web2, Web3, and financial institutions.
Localisation and Market Adaptation
Venga outlined a “think local before global” strategy, focusing on local languages, community trust, and regional adaptation. Tailoring products and compliance to regional markets is emerging as a factor for user acquisition, particularly as European firms differentiate from global players adapting to EU standards.
Costs, Proportionality, and Market Consolidation
While MiCA strengthens market integrity, it also increases the cost of compliance.
Startups face challenges with staffing, audits, and capital requirements, prompting calls for proportionality in implementation. Bitvavo observed that rising costs are contributing to consolidation, with smaller brokers exiting the market, while well-capitalised, compliant players grow their share. Panellists also acknowledged the wider compliance environment, including MiCA, DORA, GDPR, and DAC8.
Organisational Transformation
Panellists described significant operational changes to meet MiCA requirements, including governance structures, local oversight, KYC, and fiat rails, as well as EU-specific hiring and processes.
Outlook
Panellists highlighted MiCA’s impact on institutional access, trust, and market clarity.
Bullish described MiCA as opening doors to institutional capital. Venga pointed to greater trust from users and partners. Bitvavo noted clearer retail frameworks and competitive shifts, while Bybit emphasised MiCA’s role in supporting long-term strategic growth in Europe.
