BitPay clears Dutch regulator's hurdle, eyes stablecoin payments across the EU 🪙

Crypto payments company BitPay has secured a license from the Dutch Authority for the Financial Markets, authorizing the firm to operate in European Union member states under the Markets in Crypto-Assets (MiCA) framework. BitPay announced the approval on Thursday, granting it crypto-asset service provider (CASP) status and clearing the way for an expansion of its services across the region, including crypto and stablecoin payments.

The approval comes in the wake of a July 1 requirement that all entities offering crypto-related services in the EU be regulated. BitPay is among the latest companies to be licensed under MiCA, the bloc's comprehensive digital asset rulebook. "Europe is one of the most important regions for the future of payments," said BitPay's European head, Jonathan Arler, in the company's announcement of the decision.

The licensing rounds out a turbulent stretch for crypto firms operating in the EU, with major exchanges such as Binance publicly abandoning earlier efforts to secure approvals from European regulators. Ripple, meanwhile, announced last week that it had received a CASP license from Luxembourg's financial regulator, adding to the growing roster of compliant operators across the bloc.

With the Dutch license in hand, BitPay said it intends to broaden stablecoin and crypto payment offerings for merchants and consumers in the EU, marking a concrete expansion of regulated crypto payment infrastructure in the region.