BitPay has secured a MiCA license to expand its cryptocurrency payment services across Europe. This authorization allows BitPay's Dutch branch, BitPay B.V., to operate as a Crypto-Asset Service Provider (CASP) under the European Union's regulatory framework.
The license enables BitPay to provide crypto and stablecoin payment services without needing separate licenses for each individual country in Europe. This will allow merchants to process cryptocurrency transactions through a single system while complying with EU regulations.
BitPay's Chief Compliance Officer for Europe, Thom de Jong, stated that the MiCA regulation introduces a regulatory regime for responsible innovation of digital assets and will enable BitPay to serve both business clients and customers in the EU.