Paybis has obtained dual regulatory authorisation under MiCA and PSD2 in Latvia, enabling it to operate across all 27 EU member states.
The company is now authorised to offer regulated crypto asset services across all 27 EU member states and the wider European Economic Area (EEA). The CASP licence governs capital adequacy, asset custody, and consumer protection standards. The PSD2 PI licence relates specifically to payment services supporting electronic money token (EMT) operations.
Regulatory context and market positioning
The MiCA framework, which came into full effect for CASP authorisation in late 2024, established a harmonised licensing regime across the EU, replacing the patchwork of national AML registrations that had previously allowed many crypto exchanges to operate. According to Paybis, the majority of exchanges currently active in the EU market continue to hold legacy AML registrations rather than formal CASP authorisation. Among those holding CASP authorisation, a smaller subset also hold a PSD2 PI licence.
The distinction between an AML registration and CASP authorisation is legally material: the former is a compliance notification, whereas the latter requires assessment by a national competent authority against capital, governance, and conduct requirements comparable to those applied to traditional financial institutions.
Service capabilities under the new licences
With both licences in place, Paybis states it is now able to offer stablecoin payouts through a regulated payment institution, provide embedded digital asset payment services, conduct EMT transactions, and maintain segregation of client funds (both for individual users and business customers) from its own operational funds.
The company indicated that its choice of Latvia as its regulatory base was deliberate, citing the framework established by Latvijas Banka. At the same time, the dual authorisation is expected to enable a broader product offering, including services related to stablecoins, and providing the regulatory foundation to serve clients across EU markets.
The development reflects a broader shift in the European crypto sector, where MiCA is progressively tightening the requirements for market access and raising the compliance threshold for platforms seeking to operate at scale across the bloc.
