EU CRYPTO REGISTER · AUTHORISED · LAST VERIFIED
Is RELAI licensed under MiCA in the European Union?
RELAI's European entity (RELAI EU SASU) 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 23 October 2025.
Verdict: RELAI appears in the ESMA Register of MiCA-Authorised CASPs.
| Legal entity | RELAI EU SASU |
|---|---|
| Home Member State | France |
| National Competent Authority | Autorité des Marchés Financiers (AMF) |
| Authorisation date | |
| Legal Entity Identifier (LEI) | 9695003EKRFOMYXJQL11 |
| Authorised services | Exchange for funds |
Source: ESMA Register of Crypto-Asset Service Providers. Retrieved 30 June 2026.
About RELAI
RELAI is a Bitcoin-only consumer crypto app operated by Relai AG of Zurich, Switzerland, which according to company and press materials was founded in 2020 by Julian Liniger and Adem Bilican. For EU operations the group uses a French-registered entity, RELAI EU SASU, with an address given as 61 Rue de Lyon, 75012 Paris. Relai positions itself as a Bitcoin-only service rather than a multi-asset platform, and it is not a bank, custodian, broker or asset manager. Sources: relai.app, EQS News announcement
The product lets users buy and sell Bitcoin (BTC) for funds, with only Bitcoin supported and no multi-asset offering. Relai describes a self-custody model in which users hold their own private keys and the company does not hold customer funds. Funding is reported via credit card or bank transfer in CHF and EUR, including SEPA transfers for EUR. Relai's materials state it does not offer third-party custody, savings or recurring-buy plans as a custodial service, staking, or a payment card. Sources: relai.app, Relai Bitcoin security
On the legal question, the contracting EU entity RELAI EU SASU is authorised as a Crypto-Asset Service Provider under MiCA by France's Autorité des Marchés Financiers (AMF), and appears on the AMF MiCA white list. The authorisation covers the ESMA service of exchange of crypto-assets for funds. It does not, on the basis of this listing, cover other MiCA services such as custody and administration of crypto-assets on behalf of clients, operation of a trading platform, transfer services, or portfolio management, so the licence is limited to the buy and sell (exchange-for-funds) activity described above. Sources: AMF MiCA white list - RELAI EU SASU, relai.app
Which crypto services is RELAI authorised to offer in the EU?
Under its MiCA authorisation issued by Autorité des Marchés Financiers (AMF), RELAI (RELAI EU SASU) 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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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.
Which services is RELAI not authorised to offer?
RELAI's MiCA licence does not cover: Custody, Trading platform, 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 RELAI 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 RELAI 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 RELAI in the EU?
If you transact through RELAI's EEA-authorised entity (RELAI EU SASU), 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 RELAI's terms of service that your contracting entity is RELAI EU SASU, not a non-EEA affiliate.
Which MiCA-authorised exchanges are alternatives to RELAI?
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 RELAI's entry on the register:
Frequently asked questions about RELAI and MiCA
Is RELAI licensed under MiCA?
Yes. RELAI 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 RELAI 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 RELAI 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 RELAI'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 RELAI'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.