[DigitalToday reporter Chi-gyu Hwang (황치규)] OpenPaid has received approval under the European Union’s MiCA cryptocurrency regulations, enabling it to provide regulated cryptocurrency services across the European Economic Area.
According to a recent report by Cointelegraph, OpenPaid can expand its business across the European Economic Area through the passporting regime.
With the approval, OpenPaid can operate as a crypto-asset service provider (CASP). It can provide on- and off-ramp services between fiat currencies and stablecoins.
The licence was issued by Malta’s Financial Services Authority (MFSA). The authority has also granted MiCA licences to OKX and Gemini.
The approval came ahead of July 1, the deadline for MiCA’s transitional grace period. On June 23, Bitcoin Suisse secured a MiCA licence in Liechtenstein, and Ripple announced it had received preliminary CASP approval in Luxembourg.
OpenPaid launched its stablecoin infrastructure a little more than a year ago. The platform supports companies in managing fiat currencies and digital assets together on a single platform.
Chi-gyu Hwang
delight@d-today.co.kr