Stablecoin News: Plasma (XPL) Expands Payment Network to Europe with License, Amsterdam Office
Plasma has obtained a VASP license in Italy and opened an Amsterdam office to expand its regulated stablecoin payment network across the EU.Summary
Plasma, the blockchain company behind the XPL stablecoin network, announced a significant expansion into Europe by acquiring a Virtual Asset Service Provider (VASP) licensed entity in Italy. This move allows the firm to legally handle crypto transactions and custody assets in the region. Concurrently, Plasma is establishing a new office in Amsterdam, Netherlands, and has appointed key compliance officers to bolster its regulatory presence. The company plans further regulatory steps, including applying for Crypto Asset Service Provider (CASP) status under MiCA and pursuing an Electronic Money Institution (EMI) license, which would enable asset exchange, card issuance, and holding customer funds under regulatory safeguards. Plasma aims to leverage this fully licensed stack to power its neobank, Plasma One, offering merchants and institutions faster settlements, lower fees, and greater reliability for its stablecoin-based global payments infrastructure.
(Source：CoinDesk)