Is Myntkaup licensed and how are my assets kept safe?

Licence

Yes. Myntkaup ehf. was granted a crypto-asset service provider (CASP) licence under MiCA by the Central Bank of Iceland (Seðlabanki Íslands) on 25 June 2026, and is supervised by the Central Bank.

The licence covers:

custody and administration of crypto-assets on behalf of clients,
exchange of crypto-assets for funds,
exchange of crypto-assets for other crypto-assets,
transfer services for crypto-assets on behalf of clients.

As of October 2026, Myntkaup ehf. is the only company on the Central Bank of Iceland's register of crypto-asset service providers. See also the Central Bank's announcement (in Icelandic).

How customer assets are held

Multi-party computation (MPC) technology from Fireblocks, so no single private key controls customer assets.
Regulated sub-custodians: a significant part of customer assets is held by Coinbase in Luxembourg and Kraken in Ireland, both licensed crypto-asset service providers in the EU.
Segregation: customer assets are legally separate from Myntkaup's own assets and are protected from Myntkaup's creditors in the unlikely event of insolvency.
No lending: customer assets are never lent out or used for Myntkaup's own investments.
Every withdrawal is confirmed with your app PIN and by email.