Paybis secures MiCA, payment licenses in Latvia for EU crypto expansion
Paybis has secured both a MiCA crypto licence and a PSD2 payment institution licence from Latvia’s central bank, becoming the first company in the country to hold both simultaneously....
Key takeaways
- 1Paybis secured both MiCA and PSD2 licenses from Latvia's central bank on May 12, becoming the first company to hold both simultaneously.
- 2The MiCA license covers crypto custody, exchange, order execution, transfers, and advisory services for clients.
- 3Paybis operates across 180 countries, supports 90 cryptocurrencies, and serves seven million users since its 2014 founding.
Why it matters
For Indian retail investors, this demonstrates how major crypto platforms are obtaining EU regulatory compliance to expand operations. The dual licensing model enables legitimate crypto infrastructure and stablecoin services, signaling maturation of the regulated crypto market that could influence India's own regulatory approach.
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