BitPay has secured authorisation as a crypto-asset service provider from the Dutch Authority for the Financial Markets (AFM).
The approval allows the firm to offer crypto payment acceptance, stablecoin-denominated payments, and cross-border payment solutions across the EU under the Markets in Crypto-Assets Regulation (MiCA).
The license provides BitPay with a regulatory foothold in the EU, where MiCA aims to establish a harmonised framework for crypto-asset services.
Securing the authorisation in the Netherlands allows BitPay to passport its authorised services across EU member states.
The company stated the license supports access to crypto tools for spending, managing, and, through its partners, buying, selling, and swapping digital assets.
“Europe is one of the most important regions for the future of payments,”
said Jonathan Arler, Head of Europe at BitPay.
Arler added that the company’s Amsterdam base positions it to support growing merchant and consumer demand for practical ways to accept, move, manage, and spend digital assets.
Founded in 2011, BitPay operates as a cryptocurrency payment processor. The European approval adds to the company’s existing network of global money transmitter licenses.
Featured image credit: Edited by Fintech News Switzerland, based on image by Frolopiaton Palm via Magnific
