With MiCA approval, MoonPay can now provide its full range of services, including fiat-to-crypto and crypto-to-fiat payments, to customers across Europe.
MoonPay, a prominent blockchain payment company headquartered in the United States, has officially secured an operational license to enter the Dutch market under the European Union’s groundbreaking Markets-in-Crypto-Assets (MiCA) regulation.
According to an announcement on Monday, the Netherlands Financial Market Authority approved the license after a stringent review to ensure its operational policies align with the country’s rules.
🏆 achievement unlocked
✅ we've received approval under the Markets in Crypto-Assets (MiCA) regulation in The Netherlands
🌍 this enables MoonPay to innovate crypto payments across Europe!
🫡 2025 is going to be big pic.twitter.com/adLjntXhLo
— MoonPay 🟣 (@moonpay) December 30, 2024
MoonPay Expands to the Netherlands
The move comes just a few days before the full implementation of the MiCA regulation, which demands service operators register as licensed entities before servicing users in any European Union (EU) member state.
Approved by the European Parliament in April 2023, MiCA creates a standardized regulatory framework for digital assets across the European Economic Area (EEA), making it the world’s second-largest crypto economy after North America.
With MiCA approval, MoonPay can now provide its complete range of services to users in the region, including fiat-to-crypto and crypto-to-fiat payment options. The payment firm operates in over 180 countries and supports more than 100 digital assets.
In Europe alone, MoonPay is registered in several countries, including Liechtenstein and Italy. The payment firm is also registered in the United Kingdom and the Republic of Ireland as a virtual asset service provider (VASP). Both licenses were granted last year, allowing the firm to compete against other crypto companies like Coinbase, which have already established a significant presence in the region.
Commitment to Regulatory Compliance
Commenting on its latest achievement, Ivan Soto-Wright, the co-founder and CEO of MoonPay, said the license shows the company’s commitment to regulatory compliance.
“This approval is a testament to MoonPay’s proactive approach to regulation and our commitment to building a trusted bridge between the traditional financial world and the rapidly evolving crypto ecosystem,” Soto-Wright.
Meanwhile, the company’s regulatory success comes amid a series of strategic partnerships aimed at strengthening its position in the crypto payments market. In October, MoonPay partnered with Ripple to allow users to purchase XRP directly on the platform. Through this collaboration, customers can use credit cards or third-party payment services like Apple Pay and Google Pay to buy the digital asset.
In May, MoonPay expanded its network further by partnering with BitPay to facilitate seamless crypto purchases. Additionally, MoonPay has joined forces with Element Wallet to enhance its crypto transaction services.
In addition to its growing network of partnerships, the company is reportedly looking to purchase Helio Pay, a Web3-focused e-commerce firm. According to reports, both companies are currently discussing the potential acquisition, which could be valued around $150 million.
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