Paybis Gets Green Light to Operate Crypto Services Across Europe

A cryptocurrency company called Paybis just scored a major win that will let them offer crypto services across all of Europe.

The company received two important licenses from Latvia's central bank on May 12: • A MiCA license (a special permit to handle cryptocurrencies in Europe) • A payment license (permission to process regular money transfers)

This makes Paybis the first company in Latvia to hold both licenses at the same time.

What can Paybis do now? With these licenses, Paybis can: • Store cryptocurrencies for customers (like a digital wallet service) • Exchange crypto for regular money or other cryptocurrencies • Give advice about crypto investments • Process regular money payments and transfers

The company's CEO, Innokenty Isers, said these licenses will help them work with stablecoins (cryptocurrencies designed to maintain a steady value, usually tied to regular currencies like the dollar).

Why does this matter? Europe recently created new rules called MiCA (Markets in Crypto-Assets Regulation) to make crypto safer for everyone. Companies need these special licenses to operate legally. By getting both licenses, Paybis can now offer a complete range of services - both crypto and regular payments - to customers across the European Union.

The company plans to focus on helping other businesses add crypto features to their services, not just individual customers.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/crypto-exchange-paybis-secures-mica-and-psd2-licenses-in-latvia?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound