FCA Approves Asset Reality to Offer Crypto Custody Services in the UK

FCA Approves Asset Reality to Offer Crypto Custody Services in the UK

[24th June 2025, London] Asset Reality, the first end-to-end asset recovery operating system, is now registered as a VASP with the Financial Conduct Authority (FCA).

Asset Reality, the world’s first seized asset Platform, provides an end-to-end solution to support the seizure, management, and disposal of both physical and virtual assets.

The company has successfully registered as a Virtual Assets Service Provider (VASP) with the UK Financial Conduct Authority under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs).

Solving the end-to-end challenge of asset recovery by providing a single asset recovery operating system.

Until now, asset recovery practitioners have been forced to create their own end-to-end solution for asset recovery by combining spreadsheets, hardware wallets, exchanges, and consultants. This fragmentation has led to inefficiency and risk in the asset recovery process. Asset Reality offers a unified Platform, purpose-built for government and enforcement agencies with 100% asset coverage, whether virtual or traditional. The Platform combines seizure support, asset inventory and management, virtual asset custody, valuation, liquidation and compliance workflows into a single secure asset recovery operating system. This comprehensive solution makes it easier to seize, manage and dispose of all asset types in a transparent and auditable manner.

“Practitioners have always struggled with disjointed tools - managing spreadsheets, selecting wallets and exchanges, sourcing technical specialists and valuers, and navigating complex court processes without dedicated support,” said Aidan Larkin, co-founder and CEO of Asset Reality. “We’ve brought all that together in one purpose-built Platform for the first time, making seized asset management smarter, safer, and more accountable. This makes the Asset Reality Platform the first and only asset recovery operating system purpose-built by experienced practitioners for court-ordered asset recovery."

"We serve only those operating under legal authority, not the general public - unlike large custodians or crypto exchanges, we have no retail or institutional exposure, no pooled assets, and no reliance on trading margins. This means assets on our Platform are always segregated, secure, and insulated from the risks that have plagued others in the industry. This also means our clients can always see where their assets are held, both via our Platform and on-chain via blockchain explorers. We’ve never had a regulatory penalty or compliance breach, something few, if any, in our sector can say. Our clients trust us not just because we understand their mission, but because we operate with the same discipline and accountability that they do.”

This significant industry milestone underscores Asset Reality's commitment to upholding the highest standards of anti-money laundering (AML) and counter-terrorist financing (CTF) compliance in the UK. It enables Asset Reality to provide its critical virtual asset services to law enforcement and government agencies in the UK as a custodian wallet provider, helping to solve the operational and technical challenges that have long hindered global seized asset practitioners.

Asset Reality has implemented robust AML and CTF controls, including risk management, client due diligence procedures, transaction monitoring systems, and staff training programmes. These measures align with the FCA's expectations for cryptoasset businesses and demonstrate our dedication to maintaining the integrity of the ecosystem.

“FCA registration is a significant milestone, not just for Asset Reality, but for the wider seized asset ecosystem,” said Lynette Mapp, General Counsel for Asset Reality. “It helps demonstrate how regulated infrastructure can support law enforcement, courts and public sector bodies dealing with complex virtual asset cases - while upholding the highest standards of compliance and transparency.”

“We are delighted that Asset Reality have obtained registration with the FCA as a cryptoasset firm. Asset Reality will be a key player in the cryptoasset ecosystem and will facilitate its growth,” said Arun Srivastava, Partner at Paul Hastings (Europe) LLP who advised Asset Reality throughout the registration process. “The difficulties involved in preparing a registration application given the complexities in the arena Asset Reality operates in, is testament to Asset Reality’s capabilities”.

As the UK continues evolving its digital asset regulatory framework, Asset Reality remains at the forefront of compliance and innovation, leading the way in delivering secure, compliant, and scalable infrastructure to those responsible for handling seized and recovered assets.

We remain committed to providing secure and compliant services to our clients while contributing to improved asset seizure and recovery.

For more information, please contact: press@assetreality.com

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About Asset Reality Limited

Asset Reality is the seized asset company building modern solutions for more effective asset recovery. As the first company in the world to offer a complete solution for both physical and virtual assets, we make it easier to seize assets. Asset Reality’s software replaces outdated and ineffective legacy infrastructures with a solution built to optimise the seizure, management and disposal of physical and virtual assets.

For more information about Asset Reality, visit www.assetreality.com