OpenPayd has a European Union MiCA license to expand the stabilization currency access service

OpenPayd has been authorized by the EU Regulation on the Regulation of the Encrypted Assets Market to provide a regulated secure asset service in the EEA. As July 1st approaches the end of the MiCA transition period, many European encryption and payment companies are accelerating the completion of their licence plates.

Provides stable currency access

This authorization was issued by the Malta Financial Services Authority. Upon obtaining a licence, OpenPayd can operate as a secure asset service provider and extend its service to the European Economic Area through the usual mechanism of the MiCA.

Companies can support business clients in the receipt and disbursement of money between French and stable currency. Such services are becoming the basis of a stable currency payment chain, especially for the transfer of funds between traditional currency and digital assets.

Approval close to 1 July

This approval is close to the end of the MiCA transition period on 1 July. As this point in time approaches, relevant institutions in the European market are focusing on the application process.

Recently, Bitcoin Suisse has obtained a MiCA licence in Liechtenstein, and Ripple has obtained preliminary approval from the encryption asset service provider in Luxembourg. Previously, OKX and Gemini had also completed the relevant mandates through Malta.

Company has a digital asset infrastructure

OpenPayd stated that the company had been connected to the digital asset infrastructure for about a year and that business clients could manage both French currency and digital assets within the same system.

By company-disclosed data, its current annualized transactions are processed on a scale of more than $240 billion, with more than 1100 service clients, including Kraken, eToro, OKX and B2C2 on the customer list.

This MiCA mandate means that OpenPayd can further provide stable currency-related payments and money-transfer services in the European market with a compliance framework and help to strengthen its infrastructure targeting business clients.