EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is MEATAL GEAR licensed under MiCA in the European Union?
MEATAL GEAR's European entity (METAL GEAR SAS) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by France on 4 July 2025.
Verdict: MEATAL GEAR appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | METAL GEAR SAS |
|---|---|
| Home Member State | France |
| National Competent Authority | Autorité des Marchés Financiers (AMF) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 969500PQYLQG3CSJ5041 |
| Authorised services | Custody, Exchange for funds, Order execution, Transfer services |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About MEATAL GEAR
MEATAL GEAR (legal entity METAL GEAR SAS) is a French crypto-asset service provider operated by Metal Gear, a privately held software company that research summaries describe as founded in 2022 and headquartered at 64 rue des Archives, 75003 Paris, France. Rather than a retail spot-trading exchange, the company positions itself around 'stablecoin treasury' and 'global payout infrastructure', language drawn directly from its own website, indicating a focus on payment-oriented crypto use rather than consumer investment products. Sources: metalgear.xyz, AMF white list
On the licensing question: yes, METAL GEAR SAS is authorised under MiCA. The contracting legal entity is METAL GEAR SAS, and its national regulator is France's Autorité des Marchés Financiers (AMF). The AMF register records the firm as an authorised crypto-asset service provider (CASP), which places it in the ESMA Register of authorised CASPs that can passport across the EU. Sources: AMF licence (PDF), AMF white list
The MiCA authorisation covers four services: custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds, execution of orders for crypto-assets on behalf of clients, and transfer services for crypto-assets. It does not extend to operating a trading platform, and the research does not show savings, staking, or payment-card services as part of the AMF authorisation. The services apply across crypto-assets generally rather than a single asset, and no EUR or SEPA fiat support is explicitly documented in the public materials reviewed. Source: AMF licence (PDF)
Which crypto services is MEATAL GEAR authorised to offer in the EU?
Under its MiCA authorisation issued by Autorité des Marchés Financiers (AMF), MEATAL GEAR (METAL GEAR SAS) 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.
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Exchange of crypto-assets for funds
The exchange offers crypto-to-fiat (e.g. BTC to EUR) and fiat-to-crypto conversion. Authorisation here implies MiCA's pricing transparency requirements.
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Execution of orders for crypto-assets on behalf of clients
The exchange can place orders for you on third-party venues (smart-routing). Less common in retail crypto; relevant for brokerage-style services.
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Providing transfer services for crypto-assets on behalf of clients
The exchange can move crypto between addresses on your behalf, including off-platform withdrawals. The Travel Rule applies to these transfers.
Which services is MEATAL GEAR not authorised to offer?
MEATAL GEAR's MiCA licence does not cover: Trading platform, Exchange for crypto, Placing, Order R&T, Advice, Portfolio mgmt. These services may still be offered by other authorised providers, or by MEATAL GEAR 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:
Why is MEATAL GEAR licensed in France?
France ran one of the EU's earliest national crypto regimes, the PACTE Law DASP (Digital Asset Service Provider) registration, which gave the AMF years of pre-MiCA supervisory experience. The AMF began granting MiCA CASP authorisations in 2025-2026 and also maintains a public white list of CASPs passporting into France from other EEA states. BlockNodes SAS, the French entity behind the SwissBorg consumer brand, received its direct MiCA authorisation from the AMF in March 2026. Source: Autorité des Marchés Financiers (AMF).
| National Competent Authority | Autorité des Marchés Financiers (AMF) |
|---|---|
| Investor compensation | Fonds de Garantie des Dépôts et de Résolution (FGDR); check directly with the AMF for crypto-asset-specific compensation scope. |
| Regulatory context | Early mover on national crypto licensing (PACTE Law) ahead of MiCA; the AMF also publishes a white list of EEA-passported CASPs. |
What does this mean for users of MEATAL GEAR in the EU?
If you transact through MEATAL GEAR's EEA-authorised entity (METAL GEAR SAS), 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 MEATAL GEAR's terms of service that your contracting entity is METAL GEAR SAS, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to MEATAL GEAR?
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 MEATAL GEAR's entry on the register:
Frequently asked questions about MEATAL GEAR and MiCA
Is MEATAL GEAR licensed under MiCA?
Yes. MEATAL GEAR appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of France.
Which EU countries can MEATAL GEAR 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 MEATAL GEAR 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 MEATAL GEAR'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 MEATAL GEAR'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.