Belayer Lands MiCA Licence, Becoming Bulgaria’s First Fully Crypto-Focused Regulated Player

The approval marks a major regulatory milestone for Belayer and a significant step forward for Bulgaria’s evolving digital asset market

Sofia, April 28, 2026 - Belayer has secured a Markets in Crypto Assets (MiCA) license from the Bulgarian Financial Supervision Commission (FSC), becoming the first fully crypto-focused company in Bulgaria to operate under the regulator’s supervision.

The license covers crypto-asset portfolio management and custody services and marks a major milestone for Belayer as it expands its position as a compliance-first player in the professional digital asset management space.

The development is notable not only for Belayer, but for the Bulgarian market as a whole. While the country’s first MiCA license was granted to an investment intermediary, Belayer is the first licensed participant built entirely around crypto-assets, with a business model, product offering and operating expertise focused exclusively on the sector.

It also comes at a time when the bar for MiCA approval is stringent and formidable across the market. Belayer’s approval comes against a backdrop of multiple unsuccessful and or deficient applications failing to advance. Belayer’s approval signals a level of operational excellence, governance and regulatory discipline that sets it apart in an increasingly demanding environment.

Angel Gyaourov, CFA, Managing Partner, Portfolio Management at Belayer, said:“Receiving a MiCA license is a defining moment for Belayer, the crypto market and Bulgaria. We see this not simply as regulatory approval, but as validation of the model we have been building for years — disciplined, long-term and client-focused. As the market matures, we believe the distinction between noise and professionalism will only become clearer.”

Philip Matov, Co-Founder at Belayer, added:“Crypto investors are becoming more selective. They are no longer looking only for access to the market, they are looking for trust, structure and a professional investment process. That is exactly where Belayer is positioned: actively managed individual portfolios, deep market expertise and a strong focus on risk.”

Belayer’s professionalism, expertise and accountability model focuses on discretionary crypto-asset portfolio management, individual portfolios and custody services tailored to client profile, investment objectives and risk tolerance, utilizing a core team of industry professionals working with and for investors interests. The firm currently presents two core standardized strategies: (1) Belayer Apex (BAX), a growth-oriented strategy for investors with higher tolerance for volatility, and (2) Belayer Anchor Yield (BAY), a lower-risk strategy designed for more income-oriented exposure within the digital asset space.

The company sees its MiCA license as the foundation for the next phase of growth: stronger institutional positioning, broader access to clients seeking professionally managed crypto exposure, and a clearer framework for scaling its model in a strictly controlled and regulated European environment.