Paybis Secures MiCA and Payment Licenses in Latvia in Stablecoin Play
Paybis has obtained MiCA and PSD2 licenses in Latvia to expand its EU crypto and stablecoin services.Summary
Cryptocurrency platform Paybis has received two significant licenses from Latvia's central bank, Latvijas Banka, for its EU entity, SIA Paybis Europe. The first is a MiCA license for crypto-asset services, covering custody, exchange, and advisory, while the second is a PSD2 payment institution license for executing payments and transfers.
According to CEO Innokenty Isers and co-founder Konstantins Vasilenko, this dual licensing is a strategic move to facilitate stablecoin integration and expand B2B offerings. Paybis aims to provide a white-label crypto infrastructure via a single API, allowing other businesses to offer services like on/off-ramps and stablecoin payouts without building their own regulated frameworks.
Founded in 2014, Paybis serves seven million users globally and already holds money services business licenses in the US and Canada. This development comes as the EU continues to refine its regulatory landscape, with discussions regarding potential "MiCA 2" updates ongoing.
(Source：Cointelegraph)