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SOL MoonPay obtained an electronic money institution license from the Dutch Central Bank to expand its European compliance business landscape
On September 8, MoonPay announced that its European business had obtained an electronic money institution (EMI) license issued by the Central Bank of the Netherlands. This authorization provides the regulatory basis for the cryptocurrency payment company to conduct payment accounts, related payment services, and stablecoin issuance from the Netherlands.
MoonPay described the license acquisition in its announcement as an extension of its existing regulatory status in Europe rather than the official launch of a mature product. Currently, the company has not provided specific release dates, pricing strategies or user qualifications details on the accounts, stablecoins or cards it plans to develop.
License scope expanded to cover payments and stablecoin issuance
MoonPay said that after being authorized by EMI, it can provide payment accounts and associated payment services to consumers and businesses. In addition, the license allows companies to issue stablecoins, opening the way for euro-denominated tokens and open-cycle products that exceed the limits of a single merchant or platform.
The company claims to be the third company within the same entity to hold both the Dutch "Cryptographic Asset Market"(MiCA) Cryptographic Asset Service Provider (CASP) authorization and EMI license. It also claims to be the first company in the group to combine these two licenses with open stablecoin issuance capabilities. It is worth noting that these comparative statements are only subjective and are not supported by the list of peers issued by regulatory agencies.
MiCA authorization precedes EMI approval, and dual licenses reduce operational segmentation requirements.
MoonPay pointed out that its MiCA CASP license was obtained as early as 2024. The authorization mainly covers crypto asset services, while the newly obtained EMI license extends its regulated activities to traditional payment accounts and electronic money. Holding both licenses is expected to reduce the need to split crypto assets and payment products into different operating entities in Europe in the future.
This approval also adds a regulatory layer to MoonPay's broader product expansion. Previously, BlockchainReporter reported on MoonPay adding Kamino lending functionality to PayBox on the Solana chain, a separate product update that focuses on on-chain lending rather than European e-currency rights.
Product release is still pending.
MoonPay said users should expect further progress in its payment accounts, stablecoin issuance and card products across Europe. Since the announcement did not mention information such as the name of the stablecoin, reserve model, initial market or bank partners, this license should not be interpreted as evidence that euro tokens are already in circulation.
The current milestone development is only the regulatory approval itself. The commercial impact will depend on what specific services MoonPay introduces under the authorization and the terms attached to those products. Before the company announced specific release details, the EMI license only expanded its allowed scope (the scope of allowed business), but did not establish actual user adoption rates or transaction volumes.
