MoonPay Secures Dutch EMI License for Stablecoin Issuance

MoonPay has secured an Electronic Money Institution license from the Dutch Central Bank for its European operations, allowing it to expand its services and issue stablecoins. The company received the license on September 8 and will use it to offer payment accounts, related payment services, and stablecoin issuance in the Netherlands.

The EMI authorization is seen as an expansion of MoonPay's existing regulatory position rather than a new product launch. While the company did not provide details on release dates, pricing, or eligibility for its planned products, it stated that the license will enable it to offer payment accounts and connected services to consumers and businesses.

The Dutch Central Bank's approval also allows MoonPay to issue stablecoins, which can be used as euro-denominated tokens. This means that users can hold these tokens and use them to make payments beyond a single merchant or platform, similar to traditional fiat currencies.

MoonPay claims to be the third Netherlands-based business to hold both an EMI license and a Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider authorization within one entity. It also stated that it is the first company in this group to combine these licenses with open-loop stablecoin issuance capabilities.