Paysafe's Skrill and Neteller have obtained a MiCA CASP licence from the Central Bank of Ireland, enabling regulated crypto services across the EEA.
The authorisation allows Paysafe to passport its crypto services throughout the EEA, covering 30 markets with one approval. Of particular significance is Germany, where the company's digital wallets had not previously offered crypto services, as the country also represents Paysafe's largest digital wallet market in Europe, making the expansion a material step for the group's regional strategy.
Expanding regulated crypto under MiCA
MiCA, which introduced uniform standards across the EU for consumer protection, governance, operational resilience, and the safeguarding of client assets, represents a substantial regulatory shift for the European crypto sector. The regulation establishes consistent requirements for firms operating across member states, replacing a fragmented landscape of national licensing regimes.
Skrill and Neteller already operate under e-money licences in Europe. The addition of MiCA authorisation positions Paysafe among a small group of providers regulated for both fiat and crypto services simultaneously, enabling a multi-asset wallet proposition within a single compliance structure.
The German market has historically maintained a compliance-oriented approach to financial services, and the MiCA framework aligns with the expectations of German consumers regarding regulatory oversight, transparency, and asset security. Paysafe's ability to enter this market with full regulatory authorisation rather than relying on a transitional or exemption-based arrangement reflects the operational readiness required under the new regime.
Bob Legters, Chief Product Officer at Paysafe, stated that the licence allows Skrill and Neteller users in Germany to buy and sell crypto in a fully regulated manner, and that the milestone reflects the company's commitment to enabling the responsible use of digital assets across Europe.
The development follows a broader trend of established payments and e-money institutions seeking to extend their regulatory perimeter to cover digital assets, rather than operating crypto services through separate or less-regulated structures. Paysafe's approach (anchoring crypto services to its existing licensed wallet infrastructure) positions Skrill and Neteller as regulated, multi-asset platforms within the evolving European payments landscape.
