Analysis
Liechtenstein's FMA Has Authorised 12 MiCA Crypto-Asset Service Providers, 9 of Them for Custody
Every MiCA CASP the FMA has authorised, and every firm that holds only a national TVTG registration.
The short version: 12 firms are FMA-authorised MiCA crypto-asset service providers in Liechtenstein (ESMA interim MiCA register, read 22 Oct 2026): Bank Frick AG, Bitcoin Suisse (Europe) AG, Celsion Bank AG, Floin AG, Kaiser Partner Privatbank AG, LGT Bank AG, Paymonade AG, RULEMATCH Europe AG, SMART VALOR AG, Sygnum Europe AG, Wyden Capital AG, ZEUS Anstalt für Vermögensverwaltung. 9 are authorised for custody and administration of crypto-assets. The first authorisations date from 1 Dec 2025, the latest from 10 Jul 2026. 10 more hold only a current TVTG registration and 24 have only ended TVTG registrations in the FMA-Register (FMA).
MiCA Crypto-Asset Service Providers
| Firm | MiCA authorisation | Services (ESMA) | Current TVTG registrations |
|---|---|---|---|
| Bank Frick AG | 23 Dec 2025 | custody and administration, execution of orders, transfer services | — |
| Bitcoin Suisse (Europe) AG | 22 Jun 2026 | custody and administration, exchange for funds, exchange for other crypto-assets, execution of orders, reception and transmission of orders, transfer services | TT Depositary |
| Celsion Bank AG | 13 Mar 2026 | custody and administration, exchange for funds, exchange for other crypto-assets, transfer services | — |
| Floin AG | 10 Jun 2026 | custody and administration, exchange for funds, exchange for other crypto-assets, placing, transfer services | TT Depositary, Token Generator, Token Issuer (Article 12 (1)) |
| Kaiser Partner Privatbank AG | 29 Jun 2026 | custody and administration, reception and transmission of orders, portfolio management, transfer services | TT Depositary |
| LGT Bank AG | 19 Dec 2025 | custody and administration, execution of orders, reception and transmission of orders, transfer services | — |
| Paymonade AG | 10 Jul 2026 | exchange for funds, transfer services | — |
| RULEMATCH Europe AG | 1 Jun 2026 | custody and administration, trading platform, transfer services | — |
| SMART VALOR AG | 1 Jul 2026 | custody and administration, trading platform, exchange for funds, exchange for other crypto-assets, transfer services | TT Depositary |
| Sygnum Europe AG | 26 Jun 2026 | custody and administration, exchange for funds, exchange for other crypto-assets, transfer services | TT Depositary |
| Wyden Capital AG | 12 Feb 2026 | portfolio management | — |
| ZEUS Anstalt für Vermögensverwaltung | 1 Dec 2025 | portfolio management | — |
8 of the 12 CASPs also appear in the FMA-Register with TVTG registrations (5 still current); 4 have no TVTG entry.
Current TVTG Registrations Only
| Firm | Current TVTG registrations | First registered |
|---|---|---|
| CONFERO EUROPE AG | Physical Validator, TT Depositary, Token Generator, Token Issuer (Article 12 (1)) | 26 Jan 2024 |
| CorPa Blockchain AG | TT Depositary, Token Generator, Token Issuer (Article 12 (1)), Tokenisation Service Provider | 15 Jul 2024 |
| CorPa Treuhand Aktiengesellschaft | TT Depositary, TT Identity Service Provider, TT Verifying Authority | 28 Jun 2024 |
| Equanimity AG | Token Generator | 30 Dec 2020 |
| Keyrock (LI) AG | Token Lending Undertaking | 18 Nov 2024 |
| LCX AG | Physical Validator, TT Depositary, TT Identity Service Provider, TT Price Service Provider, Token Generator, Token Issuer (Article 12 (1)) | 30 Dec 2020 |
| Lirium AG | TT Depositary, TT Price Service Provider | 11 Jun 2021 |
| Mimo Capital AG | Token Generator | 10 Jan 2022 |
| Salus Alpha Financial Services (Europe) GmbH | TT Depositary | 13 Jan 2022 |
| VNX Commodities AG | TT Depositary, TT Identity Service Provider, Token Generator | 18 Oct 2021 |
A TVTG registration is a national registration, not a MiCA authorisation. No entry in the TVTG categories, and no FMA-authorised CASP, carries the name Binance, Bitpanda, Bitstamp, Bybit, Coinbase, Crypto.com, Kraken, OKX; that is not a finding about passported services from other EEA states.
Sources
- FMA-Register register.fma-li.li
- ESMA interim MiCA register www.esma.europa.eu
- FMA · TVTG www.fma-li.li
- FMA · CASPs under MiCAR www.fma-li.li