Paybis Joins “Top League” of Regulated EU Crypto Platforms, With MiCA and PSD2 Licenses Secured

⦿ Executive Snapshot

What: Paybis has secured both CASP and PSD2 licenses, establishing itself as a fully regulated crypto services provider in the EU.
Who: Paybis, Bank of Latvia, Innokenty Isers (Co-Founder and CEO).
Why it matters: This dual licensing positions Paybis among a select group of regulated platforms, enhancing consumer protection and enabling broader service offerings across the EU.

Paybis is now authorized as a Crypto Asset Service Provider (CASP) under the EU's MiCA regulation.
The company has also received a Payment Institution (PI) license under the PSD2 framework.
Paybis operates across all 27 EU member states and the broader EEA, marking a significant regulatory milestone.
The CASP authorization includes governance on capital adequacy and asset custody, providing higher consumer protection standards.
Paybis aims to become a global powerhouse for regulated crypto and payments, leveraging its new licenses to offer secure access to crypto across Europe.

The MiCA regulation represents a pivotal shift in the EU's approach to crypto regulation, aiming to integrate cryptocurrency platforms into the traditional financial regulatory framework.
Paybis joins a limited number of platforms with both CASP and PI licenses, highlighting a trend towards increased regulatory compliance in the crypto sector.

Immediate market consequence: Paybis can now offer a broader range of services, including working with stablecoins, potentially attracting more users and businesses.
Long-term implication: This regulatory status may lead to enhanced consumer trust and increased adoption of crypto services in the EU market.

Potential risk of changing regulatory landscapes in the EU that could impact the operational framework for crypto platforms.
Competition from other regulated platforms that may emerge, potentially diluting Paybis's market share.

Upcoming milestones include the implementation of services leveraging the new licenses and potential partnerships with businesses across Europe.
Monitoring the regulatory environment in the EU for any changes that could affect the operational landscape for Paybis and similar platforms.