Nuvei has announced that it has received a Crypto-Asset Service Provider (CASP) license under the European Union’s Markets in Crypto-Assets Regulation (MiCAR), allowing it to operate within the EU’s new harmonised regulatory framework for crypto assets.
The MiCAR authorisation enables Nuvei to provide regulated crypto-asset services across the European Union and to passport those services across member states under a single regulatory regime.
This removes the need for separate national approvals and simplifies expansion for merchants and platforms seeking to offer crypto-enabled payment and settlement services in multiple European markets.
Under the license, Nuvei can offer crypto-asset services including the storage and administration of cryptocurrencies, the transfer of crypto assets, and the exchange of crypto assets into funds.
Nuvei integrates these services into its existing global payments infrastructure, allowing crypto-related transactions to operate alongside traditional payment methods.
“This authorisation marks an important milestone in the convergence of payments and digital assets,”
said Phil Fayer, Chair and CEO of Nuvei.
“MiCAR brings long-needed regulatory clarity to Europe. Operating under this framework allows us to help customers move value across crypto and traditional payment rails with confidence, consistency, and scale.”
In parallel with the MiCAR authorisation, Nuvei has also obtained a Payment Institution license.
This enables the company to provide services related to electronic money tokens (EMTs).
Together, the two licences allow Nuvei to support crypto-asset, EMT, and fiat-based payment and settlement flows through a single, regulated platform.
For customers, this provides simplified access to crypto payments across Europe.
It also enables compliant fiat-to-crypto and crypto-to-fiat transactions, as well as faster and more transparent settlement options.
The combined regulatory coverage also reduces the operational and compliance complexity associated with scaling across multiple EU jurisdictions.
Nuvei stated that it will serve both business clients and retail users under the new framework.
Retail users will have access to straightforward crypto services.
Nuvei will support business customers with solutions designed for efficient settlements and crypto acceptance. It will also integrate blockchain-based fund movements into broader payment, payout, and treasury workflows.
Featured image credit: Edited by Fintech News Switzerland, based on image by watercolor_vect via Freepik
