MiCA Survival Guide · Section 6
Strategic Vendor Selection Framework
How to evaluate technology partners for MiCA success
Critical vendor evaluation criteria
Integration Depth (Most Critical)
SUPERFICIAL
✕ Wrong approach
"We integrate with Fireblocks" (just has API connection).
DEEP INTEGRATION
✓ Right approach
- ✓ Native SDK integration with Fireblocks
- ✓ Pre-built MiCA-compliant custody workflows
- ✓ Automated asset segregation and reporting
- ✓ Out-of-the-box key management policies
Evaluation questions
- "Show me a customer transaction from initiation through custody confirmation."
- "How long does it take from deposit confirmation to available balance?"
- "Demonstrate your real-time reconciliation between ledger and blockchain."
Pre-Built Compliance Frameworks
Evaluation questions
- "Show me your default AML monitoring rules."
- "How do you handle Travel Rule for transfers to major exchanges?"
- "What happens when TRM Labs flags an address as high-risk?"
DORA-Ready Architecture
Evaluation questions
- "Can you provide your ICT third-party due diligence questionnaire?"
- "What are your Recovery Time Objectives for critical systems?"
- "Show me your incident reporting procedure."
Regulatory Track Record
Evaluation questions
- "How many of your customers have MiCA licenses?"
- "Which jurisdictions have you successfully supported?"
- "Can you introduce us to a reference customer?"
Red flags in vendor selection
The ideal vendor profile
What success looks like
- Platform-based solution: core banking + custody + AML in single platform (not 3 separate vendors).
- Institutional-grade custody foundation: built on Fireblocks, Copper, or equivalent (not self-managed wallets).
- Native blockchain analytics: TRM Labs, Chainalysis, or Elliptic pre-integrated (not "you can integrate if you want").
- Automated Travel Rule: Notabene, Sygna Bridge, or InterVASP pre-integrated (not manual VASP communication).
- Proven MiCA track record: multiple customers licensed (especially in target jurisdiction).
- Comprehensive documentation: MiCA application templates, DORA compliance docs, pre-written policies.
- Ongoing support: regulatory advisory team, application assistance, post-licensing compliance support.