MoonPay receives MiCA license in the Netherlands, boosting European operations with fiat-to-crypto services under EU regulatory standards.
MoonPay, a U.S.-based blockchain payment company, has officially received a license to operate in the Netherlands. The Netherlands Financial Market Authority provides the license for this. It means MoonPay can offer service under the European Union’s Markets in Crypto Assets (MiCA) regulation. This news was made public via MoonPay official social media account on X.
The regulation approved by the European Parliament in April 2023, MiCA, seeks to establish common ground for digital assets within the European Economic Area (EEA). According to the new regulation, service operators have to be licensed if they want to offer crypto services in any of the EU member states. Currently, MoonPay has MiCA approval, so it can provide its entire range of offerings in the Netherlands. These include fiat-to-crypto and crypto-to-fiat payment options.
MoonPay Gains MiCA License in Netherlands, Boosting European Operations
The move is an important one for Moonpay as it expands its reach in the European market. The company already runs in more than 180 countries and provides support for more than 100 digital assets. In addition to that, MoonPay is a virtual asset service provider (VASP) based in multiple European countries. These countries include Liechtenstein, Italy, the United Kingdom, the Republic of Ireland, and elsewhere.
‘They are pleased to obtain this license, and it shows their commitment to regulatory compliance,’ said Ivan Soto-Wright, the CEO and co-founder of MoonPay. MoonPay has always been proactive in regulation, he said.
The successful obtaining of MiCA license by MoonPay is an extension of the crypto payment platform’s wider move to fortify its presence in the crypto payments market. The company has recently formed several strategic partnerships. For example, last month MoonPay partnered up with Ripple to facilitate customers purchasing XRP directly using credit cards and third-party services such as Google Pay or Apple Pay. In May, BitPay teamed up with MoonPay so that folks could directly buy crypto.
Ultimately, this MoonPay MiCA approval elevates the company’s credibility and APIs within the booming European crypto market. This is a huge achievement that backs the company’s ambition for crypto payments.
