Webull EU, a subsidiary of Webull Corporation (NASDAQ: BULL), announced on July 13, 2026, that it has received MiCAR approval from the Dutch AFM (Autoriteit Financiële Markten) to offer crypto-asset services in the European Union.
Key Takeaways
- Webull EU secured MiCAR approval from the Dutch AFM, the regulator overseeing financial markets in the Netherlands, per Webull.
- Webull Securities (Europe) B.V. is now one of the first dual-regulated investment firms in the Netherlands to receive MiCAR approval.
- Trade execution runs through a partnership with Coinbase Luxembourg S.A., while Webull EU handles custody.
- The license currently covers only the Netherlands, with EU-wide passporting approval still pending.
- Webull EU plans to launch crypto operations in late 2026.
What Happened?
Webull EU cleared the AFM’s MiCAR review process on July 13, extending its existing Dutch investment license to cover custody of crypto-assets for clients in the Netherlands. The move adds a MiCAR-licensed crypto layer to a brokerage that already competes on stocks, ETFs, and options. Andries van Luijk, CEO of Webull Securities (Europe) said:
He added that the firm is committed to providing our clients with secure and compliant access to digital assets under the EU’s comprehensive regulatory framework.
Webull already holds an AFM investment-firm license covering stock, ETF, and options trading. The new MiCAR approval extends that dual-regulated status to digital assets specifically.
Webull Gets the Green Light to Offer Crypto in the EU@WebullGlobal EU has received MiCAR approval from the Dutch AFM, becoming one of the first dual-regulated investment firms in the Netherlands cleared to offer crypto-asset services under the EU’s new rulebook.$BULL
— CoinLaw (@coinlaw_io) July 13, 2026
How the Coinbase Partnership Works?
Webull EU will custody client crypto-assets while Coinbase Luxembourg S.A. executes the underlying trades, splitting the workflow into two functions instead of building both in-house. Users place orders through Webull’s interface; the custody sits with the MiCAR-licensed entity that took on the compliance burden.
This mirrors a pattern common among brokerages entering crypto late: pair a licensed custodian with a specialist execution venue rather than seek both approvals simultaneously. MiCAR guarantees investor protection and operational standards for the custody side of that arrangement, which is the part regulators scrutinize most closely.
A Netherlands Only License, for Now
The approval Webull announced is narrower than a full EU rollout. Initial approval covers only the Netherlands, and passporting approval for the rest of the EU is still pending. MiCAR’s passporting mechanism lets a license issued in one member state extend to the other 26 without separate national applications, but that step has not cleared yet for Webull.
The company expects to launch crypto operations in late 2026, giving it a window to pursue the wider EU license before going live.
Implications for Crypto
Webull’s approval lands inside a broader compliance wave. The MiCAR transitional period for crypto-asset service providers ended July 1, pushing firms across the bloc to finalize licensing to keep operating legally. Ripple and Bridge have separately obtained comparable licenses in Luxembourg, while other platforms have had to alter or pause services to stay compliant.
Webull’s Netherlands first, custody plus partner structure and Ripple/Bridge’s broader Luxembourg licenses are two different routes through the same MiCAR bottleneck, and Webull’s actual EU reach won’t match its Luxembourg-licensed peers until passporting clears.
CoinLaw’s Takeaway
This approval solves a narrow problem: a MiCAR-licensed path to crypto custody without building an in-house execution desk. Splitting custody from execution lets Webull say it’s regulated without the cost of running a full crypto exchange stack.
The passporting gap is what to watch. A single-market approval isn’t EU-wide access, and the late-2026 launch target suggests Webull expects that gap to close before going live.
