What is a crypto-asset service provider (CASP)?

A crypto-asset service provider (CASP) supplies professional crypto-asset services to clients. In the EU, MiCA’s definitions connect the term to permission to provide those services. Custody, operating a trading platform and executing client orders are distinct activities; the label does not mean every activity is permitted.

A centralized crypto exchange is a familiar service model, but not every provider operates an exchange. A specialist custodian may safeguard assets or access keys without offering a retail trading screen. When comparing companies, identify the actual service and legal entity rather than treating “CASP” as a product rating.

Example

Imagine placing an order through hypothetical Platform A while your agreement names Custodian B as the firm safeguarding the assets. Order execution and custody have different responsible entities. Finding A in a register does not establish B’s position; B’s custody permission does not cover every product sold by A. Each entity needs to be matched to the service it supplies.

Terminology varies by jurisdiction. Turkey uses the abbreviation KVHS, but its framework cannot simply be substituted for MiCA. A provider’s KYC and AML procedures concern customer due diligence and financial-crime controls; completing those checks is not evidence that every advertised service has the necessary permission.

Before opening an account, the guide to checking a provider’s regulatory status shows how to match the entity in your agreement with the appropriate record and service permission.