Plasma Expands Payment Network to Europe with License, Amsterdam Office

Plasma, a blockchain company focused on stablecoin payments, announced its expansion into Europe with the acquisition of a Virtual Asset Service Provider (VASP) license in Italy and the establishment of a new office in Amsterdam. This move aims to enable regulated payment services in the EU and enhance their operational capabilities. Plasma will also seek additional licenses under the EU's MiCA regulation, as well as an Electronic Money Institution (EMI) license to facilitate asset exchange and customer fund management. Adam Jacobs, Plasma's head of global payments, emphasized the significance of this expansion, highlighting the Netherlands as an established payment hub that allows for greater control over payment processes from stablecoin settlement to licensed financial infrastructure. The company has already seen considerable success, with $7 billion in stablecoin deposits since its launch, becoming the fifth-largest blockchain by stablecoin supply. With these new licenses, Plasma aims to provide faster, more efficient payment solutions via its stablecoin-based neobank, maintaining high compliance standards and improving customer experience.

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