BitPay Wins EU CASP Approval for Cross-Border Payments

BitPay's European subsidiary has received a crucial authorization to operate as a crypto-asset service provider (CASP) under the EU Markets in Crypto-Assets Regulation (MiCA). The Dutch Authority for the Financial Markets (AFM) granted this approval, which is a significant milestone for BitPay.

The company views this license as a key growth point in serving European customers. With MiCA authorization, BitPay can now support regulated crypto-asset payment services across the EU, covering various aspects such as payment processing, cross-border payments, and consumer spending use cases. For consumers, this means broader access to tools for managing digital assets.

BitPay Europe's chief compliance officer, Thom de Jong, emphasized that receiving a MiCA authorisation from the AFM is an important milestone for BitPay. He added that it strengthens the company's ability to serve businesses and consumers with regulated digital asset services across the EU. De Jong also highlighted the validation of their compliance-first approach.

BitPay has existing regulatory coverage in multiple jurisdictions, including money transmitter licenses. The European authorization adds to this coverage, positioning BitPay as a leading player in the region. According to Jonathan Arler, BitPay Europe head, 'Europe is one of the most important regions for the future of payments.'