Is Quppy regulated? Who holds the MiCA authorisation

Why this distinction matters

A partner’s authorisation cannot be treated as a licence held by Quppy or as a licence covering every Quppy service worldwide.

The public wording should therefore say:

Crypto-asset services available through Quppy in the EEA are provided by Payhound Limited, a Crypto-Asset Service Provider authorised under MiCA by the Malta Financial Services Authority.

It should not say:

• Quppy is MiCA licensed.
• Quppy holds a MiCA licence.
• Quppy is the regulated CASP.
• All Quppy services are authorised under MiCA.

Is the Quppy crypto wallet regulated in Europe?

For eligible users in the EEA, the custody, exchange and crypto-transfer services behind the Quppy crypto wallet are provided by Payhound Limited, a Malta-based Crypto-Asset Service Provider authorised under MiCA by the Malta Financial Services Authority. Payhound’s published authorisation includes custody and administration of crypto-assets and transfer services for crypto-assets on behalf of clients.

The wallet is custodial: the provider holds and administers the supported assets, and you manage them through the Quppy app. Outside the EEA, the applicable licensed or registered provider depends on your jurisdiction and is shown before crypto services are activated.

MiCA authorisation does not remove market risk. Crypto-assets can lose value, and not every asset is available everywhere: USDT, for example, is not available through Quppy in the EEA. You can verify the provider on the official register.

What Quppy is responsible for

Quppy is responsible for the Quppy technology and user experience, subject to the Quppy Terms. This can include:

• the application interface;
• product navigation;
• presenting service status and provider information;
• first-line support for the Quppy experience;
• connecting the user with the applicable provider process.

What Payhound is responsible for

Under the applicable service agreement and authorisation, Payhound is responsible for the regulated crypto services it performs, including the relevant custody, exchange and transfer functions.