OpenPayd announced that it had been authorized by the European Union Regulation on Encrypted Asset Markets MiCA to provide regulated encryption services under a single licence in the EEA. According to the company, the scope of the authorization included exchange of French and stable currency, hosting, wallet infrastructure, and stable currency transfers across the main block chain network.
Approval is approaching July 1st.
This mandate was issued on 1 July, a few days before the end of the MiCA transition period. Under the MiCA mechanism, the licensed institutions may operate throughout the EEA under the “passport” arrangement upon completion of the notification procedure.
OpenPayd did not disclose which regulatory body issued the authorization, nor did it state the jurisdiction in which it was granted. According to the company, a single API will allow business clients to manage both French currency and digital assets on the same platform, with simultaneous access to traditional banking channels and digital asset infrastructure.
Services cover access and hosting
The company disclosed that its current regulated services included the transfer of access funds between French and stable currencies, the hosting of encrypted assets, the wallet infrastructure and stable currency transfers across major block-link networks.
- Supporting the two-way conversion of French and stable currencies
- Provision of hosting and wallet infrastructure
- Cover multiple mainstream block chain transfers
The CEO of OpenPayd, Iana Dimitrova, stated that the stabilization currency was gradually becoming part of the mainstream financial infrastructure, while the MiCA provided a clearer compliance environment for enterprises to use digital asset technology for payments and fund management.
Cooperation expansion goes hand in hand with listing
OpenPayd states that after the introduction of a stabilization currency infrastructure a year ago, the company has expanded its operations to fund management, settlement and cross-border payment scenarios. The company claims that it currently has an annualized transaction processing scale of over $240 billion, serving more than 1100 business clients worldwide, including Kraken, eToro, OKX and B2C2.
In June this year, Circe and OpenPayd entered into a partnership to provide a conversion infrastructure between the French currency and USDC. Last December, TON Foundation also chose OpenPayd to provide a French-currency infrastructure for the TON block chain ecology for financial management, ecological financing and international currency transfers.
OpenPayd is also moving forward with the U.S. marketing project. Earlier this month, the company announced its intention to merge with the special-purpose acquisition company Titan Action Corp.
Additional information:According to a recent report, by May 2026 there were only 194 authorized encrypted asset service providers (including credit institutions) in Europe, while the number of local virtual asset service providers exceeded 3000 in 2024.