Paysafe Secures MiCA Licence to Offer Regulated Crypto Services Across EEA | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Paysafe has obtained a Crypto Asset Service Provider licence under the European Union’s Markets in Crypto Assets Regulation from the Central Bank of Ireland, enabling its digital wallets Skrill and Neteller to offer regulated crypto services across all 31 European Economic Area markets under a single regulatory approval.
The licence is particularly significant for Paysafe as it allows the company to offer crypto services in Germany for the first time.
Germany is Paysafe’s largest digital wallet market in Europe and is characterised by high consumer expectations around compliance, security, and regulatory oversight.
Under the MiCA passporting framework, the single authorisation extends across the entire EEA without the need for separate national approvals in each jurisdiction.
MiCA, which represents the most substantial regulatory overhaul of the European crypto landscape to date, introduces uniform standards for consumer protection, governance, operational resilience, and the safeguarding of client assets.
Paysafe said only a limited number of firms had successfully secured a CASP licence under the new regime, placing it among a select group of early, fully authorised participants.
With Skrill and Neteller already holding e-money licences, the addition of MiCA authorisation means Paysafe is now regulated across both fiat and crypto in Europe, offering customers a compliant multi-asset digital wallet experience.
“This licence allows Skrill and Neteller users in Germany to buy and sell crypto in a fully regulated way,” commented Bob Legters, Chief Product Officer at Paysafe.
“Entering Germany for the first time with a fully regulated crypto proposition is particularly significant, given the size of the market and its strong focus on compliance.
