Paybis Secures Regulatory Licenses in Latvia for EU Expansion

Paybis, a leading cryptocurrency platform, has made a significant breakthrough in its European expansion plans. The company has secured two regulatory licenses in Latvia, marking a notable milestone in its journey towards becoming a major player in the EU's crypto landscape.

The dual licenses issued by the Latvijas Banka central bank include a MiCA crypto asset service provider (CASP) license and a PSD2 payment institution license. These approvals enable Paybis to offer regulated custody services, exchange operations, and direct payments to EU accounts.

According to the company's leadership, these licenses are crucial in enabling Paybis to provide a seamless and compliant crypto service suite that can be accessed by business partners without each partner needing to build its own regulated framework. The company plans to leverage this infrastructure to connect crypto asset services with regulated payment rails, facilitating smoother integration with traditional financial ecosystems.