A Merchant of Record (MoR) is the legal entity that is considered the seller to the end customer—it’s the name that typically appears on the customer’s card/bank statement and it takes responsibility for the transaction, including handling refunds and chargebacks and other payment-related liabilities.

If you’re building a crypto business in Europe—exchange, brokerage, custody, portfolio management, crypto payments, or other regulated crypto-asset services—one of the biggest strategic decisions is where to obtain your authorization. Under the EU’s Markets in Crypto-Assets Regulation (MiCA), crypto-asset service providers (CASPs) operate in a more unified framework across the EU.