OpenPayd secures MiCA license as stablecoin adoption grows in Europe

OpenPayd, which provides infrastructure to companies including Kraken crypto exchange, can now offer regulated crypto services across Europe under MiCA.

Financial infrastructure provider OpenPayd said Wednesday that it has secured authorization under the European Union’s Markets in Crypto-Assets Regulation (MiCA), allowing it to offer crypto services across the European Economic Area (EEA) via passporting.

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.

“Stablecoins are rapidly becoming part of mainstream financial infrastructure,” OpenPayd CEO Iana Dimitrova said, adding that MiCA gives businesses greater confidence to use digital asset technology for payments, treasury operations and growth.

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