Skip to content
Finance — Cyber Tech Business Solutions — Revolutionizing Tech at Cyber Tech Hub — General-news

Paxos Expands in Europe, Acquires Finnish E-Money Institution

Paxos' European expansion continues. Acquisition of Membrane Finance paves the way for wider EU access to its stablecoin services.

,   and  Administrator
1 min read
In this picture, we see the coin in gold and brown color. We see some text written as "The United...
In this picture, we see the coin in gold and brown color. We see some text written as "The United States Of America". It might be a money coin. In the background, it is brown in color and it looks like a carpet.

Paxos Expands in Europe, Acquires Finnish E-Money Institution

Paxos, a leading blockchain infrastructure company, has expanded its reach in Europe. It has acquired Finnish e-money institution Membrane Finance, which issues EURe, a digital asset. This move, subject to regulatory approval, grants Paxos access to all EU states.

Paxos, already regulated in New York, Abu Dhabi, and Singapore, is making strides in Europe. The acquisition of Membrane Finance, the issuer of EURe, is a significant step. Under Europe's MiCA regulations, registration in one state allows passporting to all other member states.

Paxos has been active in the stablecoin market. It is the issuer of PYUSD and USDP stablecoins. Recently, its UAE affiliate issued a yield-bearing stablecoin. The company also launched the Global Dollar Network in Singapore.

The acquisition of Membrane Finance by Paxos opens doors to the entire European Union market, pending regulatory approval. Paxos, with its existing global presence and expertise in stablecoins, is poised to expand its services in Europe.

Read also:

Related

Latest