Bitpay has obtained authorization under the European Union's Markets in Crypto-Assets Regulation, giving the payments firm a regulatory foothold to roll out crypto and stablecoin payment services across the bloc. The Dutch Authority for the Financial Markets approved Bitpay B.V. as a crypto-asset service provider this week, the company announced Thursday.
What the license covers
The MiCA authorization designates Bitpay's Dutch subsidiary as a CASP, a status that lets it operate under a single set of rules across all EU member states. Bitpay said the approval provides a regulatory base to expand its cryptocurrency and stablecoin payment services throughout the region. The license covers the full range of crypto-asset services Bitpay offers, including custody and transfer of digital assets.
Why the Netherlands
Bitpay chose the Netherlands as its EU entry point, a common route for crypto firms seeking MiCA approval. The Dutch Authority for the Financial Markets has been one of the more active national regulators in processing applications under the new framework. The authorization allows Bitpay to passport its services to other EU countries without needing separate licenses in each market.
What comes next
With the license in hand, Bitpay can now focus on onboarding European merchants and expanding its stablecoin payment rails. The company hasn't disclosed a specific timeline for when EU customers will see new features, but the regulatory green light removes a major hurdle. MiCA's full application across the EU is still rolling out, and Bitpay is among the early payment firms to secure a formal CASP designation under the regime.
