MoonPay Europe has obtained an Electronic Money Institution (EMI) licence from the Dutch Central Bank in the Netherlands.
The authorisation allows the company to offer custodial payment accounts and related payment services to both consumer and business customers, and to issue stablecoins from the Netherlands.
Expanded regulatory scope
Under the EMI licence, the company can provide payment accounts and associated payment services within the regulatory perimeter set by De Nederlandsche Bank. The licence also permits stablecoin issuance capabilities, offering MoonPay the ability to enter the euro-denominated stablecoin market.
The authorisation places MoonPay among a small group of Netherlands-based firms permitted to issue open-loop stablecoins, alongside Quantoz. Open-loop stablecoins can be used across multiple platforms and providers, distinguishing them from closed-loop tokens that are limited to a single ecosystem.
Furthermore, MoonPay is the third Netherlands-based company to achieve both a Markets in Crypto-Assets Regulation (MiCA) Crypto-Asset Service Provider (CASP) authorisation and an EMI licence within a single entity.
Building on an earlier MiCA authorisation
The EMI licence follows MoonPay's earlier regulatory approval in Europe. The company obtained a CASP licence under the Markets in Crypto-Assets Regulation (MiCAR) in 2024, a framework that established harmonised rules for crypto-asset service providers across the EU. That earlier authorisation gave MoonPay one of the longer operating track records among stablecoin issuers regulated under the bloc's framework.
Combining the CASP and EMI licences within a single entity brings MoonPay's crypto-asset services and electronic money activities under one regulatory structure in the Netherlands, rather than requiring separate entities or partnerships for each function.
According to MoonPay, the EMI licence forms the basis for further product development in Europe, with the company indicating plans to expand its payment account, stablecoin issuance, and card offerings across the region in the coming months.
The move follows a broader trend of crypto and payment firms pursuing EMI and CASP licences in tandem as MiCA implementation continues across the EU, allowing companies to combine electronic money services with crypto-asset activities under a single regulatory umbrella.
