EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is NAGA X licensed under MiCA in the European Union?
NAGA X's European entity (NAGA X) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by Cyprus on 8 June 2026.
Verdict: NAGA X appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | NAGA X |
|---|---|
| Home Member State | Cyprus |
| National Competent Authority | Cyprus Securities and Exchange Commission (CySEC) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 984500DCB2AF415E5Y71 |
| Authorised services |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About NAGA X
NAGA X is the consumer crypto brand operated by NAGA X Ltd, a Cyprus-registered company (registration HE 424746, incorporated 17 August 2021) that sits within The NAGA Group AG, a German fintech group publicly listed on the Frankfurt Stock Exchange and headquartered in Hamburg. NAGA X states on its site that it is 'Member of NAGA Group AG' and describes its product as an all-in-one crypto SuperApp to 'Instantly buy, earn, exchange, spend, and view your Crypto wallets.' This is a retail-facing crypto exchange and wallet product rather than a bank, custodian-for-institutions, broker or asset manager. Sources: NAGA X About Us, Cyprus Companies Registry - NAGA X Ltd
On the service side, the NAGA X site markets spot trading, a custodial multi-chain Web3 wallet, and the ability to buy crypto with Visa, Mastercard and debit cards, with the company stating it supports 100+ networks and access spanning fiat, crypto and stablecoins. Each consumer offer on the EU site is labelled 'offered via NAGA X Ltd'. NAGA X reports a community of more than 2.6 million users and states that customer funds are kept in segregated bank accounts; these are the company's own statements rather than independently verified figures. Source: NAGA X (EU)
On the legal point, the contracting entity is NAGA X Ltd, supervised in Cyprus by the Cyprus Securities and Exchange Commission (CySEC). According to a NAGA Group corporate announcement, NAGA X Ltd received authorisation under the EU Markets in Crypto-Assets Regulation (MiCA) as a crypto-asset service provider on 24 June 2026, which under MiCA passporting allows it to offer authorised crypto-asset services across the EU. Sources: NAGA secures MiCA authorization (EQS-News), NAGA X Regulation & Licensing
The specific list of individual MiCA crypto-asset services that this authorisation covers, and any services it does not cover, is not itemised in the research available here. Prospective users should confirm the exact scope of NAGA X Ltd's authorisation directly against the CySEC public register and the firm's own regulatory disclosures before relying on any particular service being in scope. Sources: NAGA X Regulation & Licensing, NAGA secures MiCA authorization (EQS-News)
Which crypto services is NAGA X authorised to offer in the EU?
Under its MiCA authorisation issued by Cyprus Securities and Exchange Commission (CySEC), NAGA X (NAGA X) is approved to provide the following services to EEA residents. Each service is defined in Article 3(1)(16) of Regulation (EU) 2023/1114.
Which services is NAGA X not authorised to offer?
NAGA X's MiCA licence does not cover: Custody, 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 NAGA X under a different regulatory framework (for example, derivatives may fall under MiFID II rather than MiCA). Source: ESMA Register, retrieved 30 June 2026.
Why is NAGA X licensed in Cyprus?
CySEC has a long history in fintech and CFD broker regulation; the Cyprus framework appeals to firms targeting retail with marketing-heavy models. Revolut's Digital Assets entity authorised here in October 2025. Source: Cyprus Securities and Exchange Commission (CySEC).
| National Competent Authority | Cyprus Securities and Exchange Commission (CySEC) |
|---|---|
| Investor compensation | Cyprus Investor Compensation Fund up to €20,000. |
| Regulatory context | Long history with CFDs and retail-targeted financial products. |
What does this mean for users of NAGA X in the EU?
If you transact through NAGA X's EEA-authorised entity (NAGA X), 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 NAGA X's terms of service that your contracting entity is NAGA X, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to NAGA 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 NAGA X's entry on the register:
Frequently asked questions about NAGA X and MiCA
Is NAGA X licensed under MiCA?
Yes. NAGA X appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of Cyprus.
Which EU countries can NAGA 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 NAGA 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 NAGA 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 NAGA X's entry is on this page under 'Sources'.
Sources
- ESMA Register of Crypto-Asset Service Providers
- Cyprus Securities and Exchange Commission (CySEC)
- ESMA MiCA Register - NAGA X (NAGA X)
- NAGA X official website
- NAGA X About Us
- NAGA secures MiCA authorization for crypto-asset services across the EU (EQS-News)
- Cyprus Companies Registry - NAGA X Ltd (HE 424746)
This page is updated weekly. Last verified . If you believe any information on this page is inaccurate, write to our contact page.