OpenPayd Secures MiCA License Amid European Crypto Regulatory Rush

Financial infrastructure provider OpenPayd has secured authorization under the European Union's Markets in Crypto-Assets Regulation, or MiCA, allowing it to offer regulated crypto services across the European Economic Area through a single license.

The company announced the approval days before the July 1 MiCA deadline as crypto firms across Europe race to secure regulatory approval. OpenPayd said the authorization covers fiat-to-stablecoin conversions, custody, wallet infrastructure, and stablecoin transfers across major blockchain networks.

OpenPayd CEO Iana Dimitrova stated that 'stablecoins are rapidly becoming part of mainstream financial infrastructure.' She added that MiCA is a major step forward for Europe because it gives businesses the assurance to leverage digital asset technology to improve their payments and treasury and to grow.'