Stablecoin

Frontier

<a href="https://thecoinrise.com/paxos-floats-new-stablecoin-usdg-in-singapore/" rel="noopener noreferrer nofollow">Paxos, a regulated U.S.-based blockchain company</a>, has made a strategic move to broaden its global presence. Earlier today, the company agreed to acquire Membrane Finance, a Finnish electronic money institution (EMI).&nbsp;
This strategic acquisition, pending regulatory approval, will mark Paxos’ entry into the European Union (EU) as a fully licensed EMI. This acquisition is a key step in <a href="https://thecoinrise.com/paxos-bags-partial-nod-from-mas-to-issue-stablecoin/" rel="noopener noreferrer nofollow">Paxos’ mission to expand its regulatory footprint </a>while capitalizing on the growing demand for stablecoins in Europe.
<h2 id="b-paxos-to-leverage-membrane-finance-s-eure-for-market-stability-b">Paxos to Leverage Membrane Finance’s EURe For Market Stability&nbsp;</h2>
Membrane Finance, founded in 2023, made waves with its Ethereum-based stablecoin, EURe, pegged to the Euro. It proudly positioned itself as Europe’s first and only E.U.-regulated full-reserve stablecoin and payment network.&nbsp;
By acquiring Membrane, Paxos gains access to this pioneering stablecoin and a well-established presence in Europe’s regulatory framework.&nbsp;
Stablecoin sets a high benchmark for transparency and compliance. EURe operates under stringent E.U. regulations, unlike other tokens, ensuring that a full reserve backs every euro equivalent.
<h2 id="b-mica-s-role-in-shaping-the-crypto-frontier-b">MiCA’s Role in Shaping the Crypto Frontier</h2>
The timing of this acquisition aligns with the European Union’s landmark <a href="https://thecoinrise.com/mica-framework-signed-into-law-by-eu-officials/" rel="noopener noreferrer nofollow">Markets in Crypto Assets (MiCA) regulations</a>. MiCA has created a clearer regulatory environment for stablecoin issuers.&nbsp;
The rules mandate that up to 60% of an issuer’s stablecoin reserves be held in banks. This is to ensure a secure and compliant market for stablecoins within the EU.&nbsp;
This acquisition positions Paxos, renowned for managing stablecoin services for global players, the opportunity to offer its services to European customers in full alignment with these regulations.
<h2 id="b-the-global-strategy-for-stablecoins-b">The Global Strategy for Stablecoins</h2>
Notably, the firm provides crypto brokerage and stablecoin services to global giants like Binance and PayPal. The firm sees this acquisition as a pivotal move to expand its European operations.&nbsp;
Walter Hessert, Paxos’ Head of Strategy, emphasized that stablecoins are rapidly becoming a consumer’s everyday product. This latest acquisition reinforces the company’s commitment to offering secure, compliant, and efficient solutions to a growing market.
This move underscores Paxos’ forward-thinking approach to merging innovation with regulatory adherence. <a href="https://thecoinrise.com/stablecoins-enters-spotlight-with-us-treasury-department-heres-why/" rel="noopener noreferrer nofollow">As the demand for stablecoins rises globally</a>, Paxos is positioned to offer secure, compliant solutions tailored to the needs of European consumers.
The post <a href="https://thecoinrise.com/paxos-expands-eu-reach-membrane-finance-acquisition/" rel="noopener noreferrer nofollow">Paxos Expands EU Reach Membrane Finance Acquisition</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Paxos Expands EU Reach Membrane Finance Acquisition

Table of Contents

TheCoinrise Media

Other articles published on Nov 19, 2024

Instadapp’s Fluid DEX Takes on Uniswap in DeFi

Metaplanet Stock Rises 15% After Bitcoin Buy, Russia Proposes 15% Crypto Tax

Keanu (KNU) Meme Token Launches on Pump.fun

🗒 Daily Newsletter | Tuesday, November 19, 2024

Binance US Ex-CEO Brian Brooks Tops List for SEC Chair

Gemini Expands to France, Strengthening Global Crypto Presence

Join our free newsletter for daily crypto updates!