CASP (Crypto-Asset Service Provider)

The process of creating a new token on the blockchain, especially NFTs or ERC tokens.

What is it? - Dummies

A CASP is like a travel agency, but for crypto-assets: it is the authorised firm that holds your coins for you, exchanges them, executes your purchases or runs the trading platform. To operate, it has to apply for a licence and comply with MiCA rules, just as an agency needs its licence to sell travel.

What is it? - PRO

A CASP (Crypto-Asset Service Provider) is the legal entity authorised under MiCA Regulation (EU) 2023/1114 to provide, on a professional basis, one or more crypto-asset services: custody and administration, operation of trading platforms, exchange, execution of orders, placing, advice or portfolio management, among others.

It requires authorisation from the competent national authority and is subject to capital, governance, custody and client protection requirements. It is a figure specific to MiCA; services relating to tokenised financial instruments are instead handled by investment firms under MiFID II.

Key points

A figure defined and authorised by MiCA.
Requires authorisation from the competent national authority.
Services: custody, trading, exchange, execution, advice, and others.
Does not cover financial instruments, which are governed by MiFID II.

Advantages

Disadvantages

Related Concepts

NFT (Non-Fungible Token)

A unique digital token that represents ownership of a specific asset, such as digital art, music, or collectibles.

Smart contract

Self-executing blockchain programs that automate agreements and processes without intermediaries.

NFT metadata

Additional information that describes the characteristics of an NFT, such as a name, image, description, or unique attributes.

Token

Digital representation of an asset, value or utility within a blockchain.

ERC-721

Standard for non-fungible tokens (NFTs) on Ethereum, used for unique assets such as art, collectibles or digital property.

ERC-1155

Hybrid standard that allows both fungible and non-fungible tokens to be created in the same contract.

Related Services

Create NFT collections

Development of smart contracts

Token development

Issuance of tokens

White label tokenization platform

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