EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is Kvarn X licensed under MiCA in the European Union?
Kvarn X's European entity (Kvarn Capital Oy) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by Finland on 2 December 2025.
Verdict: Kvarn X appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | Kvarn Capital Oy |
|---|---|
| Home Member State | Finland |
| National Competent Authority | |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 9845009F15A5B9FD7F45 |
| Authorised services | Custody |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About Kvarn X
Kvarn X is a consumer investment app operated from Finland that lets users buy, sell and hold multiple asset classes - stocks, ETFs and crypto-assets - in one place. On its own site Kvarn X states it offers over 400 cryptocurrencies including Bitcoin, Ethereum, BNB, XRP and Solana, alongside equities and commodity instruments, with monthly-savings (recurring buy) functionality. The crypto and payment side is run by the legal entity Kvarn Capital Oy, while a separate affiliate, Kvarn Investment Services Oy, handles the stocks and ETF investment-services business. Co-founder Joonas Järvinen is named in research as part of the operating team. Sources: kvarnx.com, Kvarn X company page
According to research summaries, Kvarn Capital Oy was founded around 2023 (with company presence dating to late 2022) and is headquartered at Eteläesplanadi 24A, 00130 Helsinki, Finland. Research describes the crypto offering as a spot, multi-asset platform with custody and Ethereum staking (the latter launched with Northstake), and EUR/SEPA payment support provided under a separate payment-institution permission rather than under the MiCA licence itself. These operational details come from third-party and company-affiliated sources rather than from the regulator. Sources: PR Newswire, Kvarn X company page
On the legal point: the entity contracting with EU users for crypto-asset services is Kvarn Capital Oy, supervised by the Finnish Financial Supervisory Authority (Finanssivalvonta, FIN-FSA). In the ESMA MiCA register, the service Kvarn Capital Oy is authorised to provide is the custody and administration of crypto-assets on behalf of clients. A MiCA custody authorisation covers safekeeping of clients' crypto-assets; it does not, on its own, confirm authorisation for other MiCA services such as the exchange of crypto-assets for funds, operating a trading platform, or transmission and execution of orders. Anyone relying on this should confirm the current scope directly against the FIN-FSA and ESMA registers. Sources: STT Info CASP licence announcement, kvarnx.com
Which crypto services is Kvarn X authorised to offer in the EU?
Under its MiCA authorisation issued by Finland, Kvarn X (Kvarn Capital Oy) is approved to provide the following services to EEA residents. Each service is defined in Article 3(1)(16) of Regulation (EU) 2023/1114.
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Providing custody and administration of crypto-assets on behalf of clients
The exchange holds your crypto in its own wallets. Authorisation here means MiCA's segregation and insurance rules apply: client crypto-assets must be ring-fenced from the exchange's own funds.
Which services is Kvarn X not authorised to offer?
Kvarn X's MiCA licence does not cover: Trading platform, Exchange for funds, Exchange for crypto, Order execution, Placing, Order R&T, Advice, Portfolio mgmt, Transfer services. These services may still be offered by other authorised providers, or by Kvarn X under a different regulatory framework (for example, derivatives may fall under MiFID II rather than MiCA). Source: ESMA Register, retrieved 30 June 2026.
See other MiCA-authorised exchanges by service:
What does this mean for users of Kvarn X in the EU?
If you transact through Kvarn X's EEA-authorised entity (Kvarn Capital Oy), the protections introduced by MiCA apply to your relationship from onwards. In practical terms this means: client crypto-assets are ring-fenced from the exchange's own funds (Article 70 MiCA), the authorised entity holds prudential capital, has formal complaint-handling procedures, and is subject to transparency obligations on fees and order execution. Source: Regulation (EU) 2023/1114.
One thing to verify yourself: the legal entity you contract with day-to-day must match the entity in the ESMA register. Some global exchanges operate multiple legal entities under one brand. Confirm in Kvarn X's terms of service that your contracting entity is Kvarn Capital Oy, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to Kvarn X?
Three MiCA-authorised providers to consider. Drawn from the ESMA register, never paid placement.
| Provider | Home Member State | Authorised | Services |
|---|---|---|---|
| Alaric Securities | Bulgaria | 9 services | |
| OKX | Malta | 9 services | |
| Kraken | Ireland | 8 services |
Related reading
Understand the regulatory context behind Kvarn X's entry on the register:
Frequently asked questions about Kvarn X and MiCA
Is Kvarn X licensed under MiCA?
Yes. Kvarn X appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of Finland.
Which EU countries can Kvarn X serve under this licence?
A MiCA authorisation in one EEA member state permits passporting across all EEA member states, subject to a notification process to each host-state regulator.
Are my crypto-assets on Kvarn X protected under MiCA?
MiCA introduces ring-fencing of client crypto-assets, prudential capital requirements for the authorised entity, complaint-handling obligations, and conduct rules. It does not provide a deposit-guarantee scheme equivalent to bank deposit insurance.
What's the difference between the authorised entity and the global brand?
Some global exchanges operate multiple legal entities. The MiCA authorisation applies only to the specific legal entity in the ESMA register, not to the global brand. Verify the contracting entity in Kvarn X's terms of service.
Where can I check the official record?
The ESMA register publishes the authoritative list and updates it weekly. The direct link to Kvarn X's entry is on this page under 'Sources'.
Sources
This page is updated weekly. Last verified . If you believe any information on this page is inaccurate, write to our contact page.