Dtcpay has obtained a Green Light Letter from Luxembourg’s Commission de Surveillance du Secteur Financier as part of its application for an EMI licence.
The approval positions the Singapore-based company to offer regulated payment services within the European Economic Area (EEA), subject to final authorisation. The licence, once granted, would permit dtcpay to issue electronic money, conduct payment transactions, and manage cross-border money transfers across the 30-member EEA.
The firm has identified Luxembourg as its European base of operations and intends to expand its existing suite of services, which includes stablecoin-based payments and digital asset infrastructure, into the EU under this regulatory framework.
The expansion aligns with EU regulatory developments
Officials from dtcpay noted that securing the EMI licence is part of the company’s efforts to support real-time settlement services across both Web2 and Web3 platforms. The company is also considering future regulatory applications, including a potential Crypto-Asset Service Provider (CASP) licence under the EU’s Markets in Crypto-Assets (MiCA) framework.
The move comes as Luxembourg and Singapore mark 50 years of diplomatic ties in 2025. Dtcpay is the first Singaporean-licenced Major Payment Institution to establish operations in Luxembourg, and its officials cited regulatory compatibility and the jurisdiction's established financial infrastructure as key reasons behind the decision.
Company representatives stated that the planned European hub will serve as a strategic link between the two financial centres, enabling the rollout of digital payment solutions designed for businesses and consumers throughout the region. With approximately 450 million people across the EEA, dtcpay sees this as an opportunity to scale its stablecoin infrastructure within an EU-compliant framework.
dtcpay has previously acquired regulatory clearances in Singapore and other jurisdictions. Its expansion into Europe is expected to follow a similar model, with an emphasis on compliance, infrastructure development, and integration of both fiat and digital asset-based payment technologies.
