TÝR Markets has been granted authorization by the Norwegian FSA to provide crypto-asset services under the EU's MiCA regulation, making it the first Norwegian crypto broker to receive a full CASP license under MiCA Article 63.
The authorisation takes effect from 18 May 2026 and marks a significant milestone for both the company and the Norwegian crypto market, as the MiCA transition period draws to a close.
"It doesn't seem like the market has fully taken this in yet. There is a hard stop from the EU on 30 June. If you don't have this licence by then, you have to shut down the services. The transition period is over," Filip Berg-Nielsen at TÝR Markets told Kaupr.
MiCA (Markets in Crypto-Assets Regulation) will from this summer become the central regulatory framework for crypto services in the EU and EEA. From 1 July, operators providing crypto-asset services in Norway must hold authorisation under the framework in order to continue operating.
According to Berg-Nielsen, this will have direct consequences for the Norwegian market.
"There are around 500,000 Norwegians currently invested in crypto across various platforms. From 1 July, these users will only be able to trade with MiCA-authorised operators," he said.
As TÝR Markets receives its MiCA authorisation, the company is preparing to launch a new mobile app.
According to Berg-Nielsen, the platform was built from the outset on the assumption that crypto trading would eventually be regulated along similar lines to traditional financial instruments.
"Our platform has been built from day one on the premise that crypto trading would eventually be regulated roughly on a par with financial instruments," he said.
The company describes the MiCA authorisation as a validation of the technology, systems and infrastructure it has developed over recent years.
TÝR Markets also argues that much of today's crypto trading in Norway is still characterised by limited local liquidity.
Berg-Nielsen points out that many Norwegian operators run what he calls "local order books", where Norwegian users primarily trade against other Norwegian customers.
"Bitcoin is a global instrument with no national borders. That is why we believe it should be traded against the global market, not just locally," he said.
The company has therefore built its trading infrastructure against international markets and global liquidity pools, aiming to offer Norwegian customers more competitive pricing and tighter spreads.
According to TÝR Markets, this model has contributed to rapid growth.
"In nine months we have become the second-largest crypto platform in Norway. We had around 9 per cent market share in April, and even more now in May," Berg-Nielsen said.
Berg-Nielsen describes the process of obtaining MiCA authorisation as both extensive and resource-intensive.
"The framework is comprehensive and complex. The process has been long and time-consuming, but we are very pleased with the dialogue we have had with Finanstilsynet throughout," he said.
He describes the work as a learning process for both the company and the regulatory authorities.
MiCA represents the most significant regulatory change the crypto industry in Europe has undergone to date, and is intended to establish a harmonised framework for crypto assets and crypto services across the EU and EEA.
The authorisation TÝR Markets has now received covers custody and administration of crypto assets on behalf of clients, exchange between crypto assets and fiat currency, exchange between crypto assets, and services related to the transfer of crypto assets.
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