Swiss-based crypto custodian Taurus has been granted a MiFID II investment firm license by regulators in Cyprus, giving it a passport to offer custody and capital markets services across EU member states. This positions Taurus as one of the first crypto-native custodians with full MiFID licensing, accelerating its ability to serve regulated EU institutional clients including asset managers and banks.
Armada's crypto-repo desk relies on Fireblocks as its custody partner and a no-rehypothecation policy as a key trust signal. The Taurus development is relevant as EU-based counterparties such as hedge funds and family offices may demand MiFID-compliant custody arrangements. Armada should assess whether its Fireblocks relationship adequately covers EU regulatory expectations or if additional custody infrastructure is warranted.