Zerohash secures MiCA license as $2B Mastercard deal looms

• Zerohash gains MiCA approval to offer stablecoin infrastructure across 30 EU countries.
• AFM registers Zerohash as a Crypto-Asset Service Provider for banks and fintechs.
• MiCA license boosts Zerohash’s role in Europe’s regulated digital asset ecosystem.

Zerohash is licensed by the European Union Markets in Crypto-Assets Regulation (MiCA) and is therefore one of the first firms to have received approval to provide stablecoin infrastructure within Europe. The Dutch Authority on the Financial Markets (AFM) granted a license to Zerohash to offer its services in the entire European Economic Area (EEA), comprising 30 countries.

The company announced the approval on Sunday. Zerohash Europe has become an official Crypto-Asset Service Provider (CASP) in the official registry of AFM. This will allow the company to cooperate with banks, fintech companies, and payment providers with the purpose of introducing compliant stablecoin and digital asset offerings.

Zerohash Strengthens Europe’s Compliance Path for Digital Assets

The license will enhance Zerohash as a reputable vendor of blockchain infrastructure to institutions requiring regulation. Additionally, it unifies Europe’s path toward clear compliance infrastructures for digital assets. Currently, MiCA is operational, so companies should comply with stringent transparency and operational requirements to provide crypto-related services.

Zerohash was started in 2017, and it is focused on helping large financial institutions to offer crypto and stablecoin infrastructure. Its customers are Morgan Stanley, Franklin Templeton, and Stripe. The company has provided the tools used in the back office that enable traditional businesses to introduce crypto without having direct control of the digital assets.

Also Read: Ethereum Stablecoins Hit $183.2 Billion, Surpassing Major Global Reserves

The MiCA license comes across reports that Mastercard is basically negotiating the purchase of Zerohash. A Fortune report, with unidentified sources, reported that the transaction would be between $1.5 billion and $2 billion. The purchase would broaden the involvement of Mastercard in the sector of stablecoin and blockchain payment.

Mastercard Expands Digital Currency Efforts with USDC and Euro Coin

Mastercard has been getting more active in digital currencies. In August, it declared its intention to allow merchants and acquirers in Eastern Europe, the Middle East, and Africa (EEMEA) to settle payments in the USDC and Euro Coin. The first to introduce this feature are Arab Financial Services and Eazy Financial Services.

In September, Mastercard partnered with the central bank of Kazakhstan and Solana to pilot a stablecoin named Evo (KZTE), tied to the tenge currency of that country. The Digital Assets Regulatory Sandbox controls the project, which involves the Intebix Crypto Exchange and Eurasian Bank.

The MiCA license by Zerohash is a significant move to regulate crypto adoption in Europe. The license places the company as an effective infrastructure service provider to financial institutions adjusting to the EU framework for digital assets.

Also Read: Balancer Faces Security Alert as $110 Million Crypto Moves to Unknown Wallet