Paybis Expands European Presence with MiCA and Payment Licenses

Paybis has made a major breakthrough in the European market by securing two licenses from Latvia's central bank. The company, which supports over 90 cryptocurrencies and serves millions of users worldwide, has been granted a license under the European Union's Markets in Crypto-Assets Regulation (MiCA) as well as a payment institution license.

The MiCA license allows Paybis to provide a range of services, including custody and administration of crypto assets, exchange of crypto-assets for funds or other crypto assets, execution of orders, transfer services, and crypto asset advisory. This is a significant development for the company as it looks to expand its offerings in the European market.

Paybis has also been granted a payment institution license under Payment Services Directive 2 (PSD2), which enables the company's EU entity to execute payments and make transfers to payment accounts. The combination of these licenses will allow Paybis to provide a seamless experience for its users, connecting crypto asset services with regulated payment rails.

According to Konstantins Vasilenko, co-founder and chief business development officer of Paybis, the company is targeting business clients with its white-label crypto infrastructure stack. This includes on/off-ramps, buy/sell/swap, payment acceptance, and stablecoin payouts, all delivered through a single API.