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Financial infrastructure provider OpenPayd said Wednesday that it has secured authorization under the European Union\u2019s Markets in Crypto-Assets Regulation (MiCA), allowing it to offer crypto services across the European Economic Area (EEA) via passporting.<\/p>\n
The license lets OpenPayd operate as a crypto asset service provider (CASP) to offer services such as fiat-to-stablecoin on-ramping and off-ramping, the company said in a statement seen by Cointelegraph.<\/p>\n
\u201cStablecoins are rapidly becoming part of mainstream financial infrastructure,\u201d OpenPayd CEO Iana Dimitrova said, adding that MiCA gives businesses greater confidence to use digital asset technology for payments, treasury operations and growth.<\/p>\n
The license was issued by the Malta Financial Services Authority (MFSA), an OpenPayd spokesperson told Cointelegraph. The regulator has also granted MiCA licenses to crypto companies, including OKX<\/a> and Gemini<\/a>.<\/p>\n The approval comes days before a July 1 MiCA transitional deadline, as crypto companies race to secure authorization under the bloc’s crypto rules. On Tuesday alone, Bitcoin Suisse secured<\/a> a MiCA license in Liechtenstein and Ripple announced preliminary CASP approval<\/a> in Luxembourg.<\/p>\n OpenPayd’s MiCA authorization comes about a year after the company launched its stablecoin infrastructure, which allows businesses to manage fiat currencies and digital assets through a single platform.<\/p>\n The company said it processes more than $240 billion in annualized transaction volume for over 1,100 businesses worldwide, including Kraken, eToro, OKX and B2C2.<\/p>\n Source: <\/em>OpenPayd<\/em><\/a><\/p>\n OpenPayd was founded in London in 2018 by Ozan Ozerk, a fintech entrepreneur who also founded European Merchant Bank, a Lithuania-based digital bank.<\/p>\n Related: <\/strong><\/em>EU committee advances digital euro bill after key vote<\/strong><\/em><\/a><\/p>\n OpenPayd\u2019s MiCA license news comes as the company is pursuing a public listing in the US.<\/p>\n Earlier in June, OpenPayd announced<\/a> a proposed merger with special purpose acquisition company Titan Acquisition Corp, a deal that would see its shares trade on Nasdaq under the ticker \u201cOP\u201d if approved.<\/p>\nOpenPayd counts Kraken, OKX among its clients<\/h2>\n
OpenPayd eyes Nasdaq debut<\/h2>\n