EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is OPENBANK licensed under MiCA in the European Union?
OPENBANK's European entity (OPEN BANK S.A.) is recorded as an authorised Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets Regulation, with its authorisation issued by Spain on 24 July 2025.
Verdict: OPENBANK appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | OPEN BANK S.A. |
|---|---|
| Home Member State | Spain |
| National Competent Authority | |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 5493000LM0MZ4JPMGM90 |
| Authorised services | Custody, Order execution |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About OPENBANK
OPENBANK is the 100% digital retail bank of the Banco Santander group, not a standalone crypto exchange. According to a Santander press release, Openbank launched a cryptocurrency trading service for retail clients as an extension of its banking offering rather than as a dedicated trading venue. The contracting legal entity is OPEN BANK, S.A., headquartered in Madrid, Spain, and established in 1994 as Santander's digital banking arm. Sources: Santander press release, Openbank crypto page
The crypto product is spot trading only - customers can buy, sell and hold a small multi-asset selection from inside the Openbank app, integrated with their EUR banking infrastructure. Research summaries describe coverage of Bitcoin, Ether, Litecoin, Polygon and Cardano, and Openbank's own site states that Solana and Polkadot have since been added. Openbank presents crypto strictly as an investment and states it does not offer savings, staking or a crypto card around it; the research notes zero custody fees and a per-transaction fee. These are the company's own product descriptions. Source: Openbank crypto page
On the legal point, the service is provided by OPEN BANK, S.A. and supervised in Spain by the Comisión Nacional del Mercado de Valores (CNMV). Under MiCA, the entity is authorised as a crypto-asset service provider for the custody and administration of crypto-assets and for the execution of orders for crypto-assets on behalf of clients. The licence does not, on this record, extend to other MiCA services such as operating a trading platform, exchange against funds or other crypto-assets, placement, transfer, advice or portfolio management. As an authorised CASP it can passport these covered services across the EU. Sources: Openbank, Santander press release
Which crypto services is OPENBANK authorised to offer in the EU?
Under its MiCA authorisation issued by Spain, OPENBANK (OPEN BANK S.A.) 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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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.
Which services is OPENBANK not authorised to offer?
OPENBANK's MiCA licence does not cover: Trading platform, Exchange for funds, Exchange for crypto, Placing, Order R&T, Advice, Portfolio mgmt, Transfer services. These services may still be offered by other authorised providers, or by OPENBANK 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 OPENBANK in the EU?
If you transact through OPENBANK's EEA-authorised entity (OPEN BANK S.A.), 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 OPENBANK's terms of service that your contracting entity is OPEN BANK S.A., not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to OPENBANK?
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 OPENBANK's entry on the register:
Frequently asked questions about OPENBANK and MiCA
Is OPENBANK licensed under MiCA?
Yes. OPENBANK appears in the ESMA Register of MiCA-Authorised Crypto-Asset Service Providers, with its authorisation issued by the competent authority of Spain.
Which EU countries can OPENBANK 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 OPENBANK 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 OPENBANK'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 OPENBANK's entry is on this page under 'Sources'.
Sources
- ESMA Register of Crypto-Asset Service Providers
- ESMA MiCA Register - OPENBANK (OPEN BANK S.A.)
- OPENBANK official website
- Openbank cryptocurrency page (issuer)
- Santander press release: Openbank launches cryptocurrency trading service
- Bloomberg: Santander's Openbank launches crypto trading for retail clients
This page is updated weekly. Last verified . If you believe any information on this page is inaccurate, write to our contact page.