Crypto payments company BitPay said it has received approval from the Netherlands Authority for the Financial Markets and obtained a Crypto-Asset Service Provider, or CASP, license. The company said the authorization allows it to operate across European Union member states under the Markets in Crypto-Assets framework. BitPay added that the license will support a broader push in Europe, including crypto payment and stablecoin payment services. The update comes as regulatory requirements tighten in the region. Under the relevant rules, all entities offering crypto-related services must be brought under supervision starting July 1. Jonathan Arler, BitPay’s head of Europe, said Europe is one of the most important regions for the future of payments. The announcement follows an earlier disclosure from Ripple, which said it had obtained a CASP license from Luxembourg’s financial regulator.
Crypto payments company BitPay said it has been approved by the Netherlands Authority for the Financial Markets and has obtained a Crypto-Asset Service Provider, or CASP, license. The company said the authorization allows it to conduct business in European Union member states under the Markets in Crypto-Assets framework.
BitPay said the license will support the expansion of its services in Europe, including crypto payments and stablecoin payments.
Under the relevant requirements, all entities providing crypto-related services must come under regulatory supervision starting July 1.
Jonathan Arler, BitPay’s head of Europe, said Europe is one of the most important regions for the future development of payments.
Earlier, Ripple said it had obtained a CASP license issued by Luxembourg’s financial regulator.
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