Cryptocurrency platform Paybis has obtained two significant licenses from the Central Bank of Latvia. SIA Paybis Europe, the company's subsidiary in the European Union, is now authorized to provide crypto-asset services under the EU's MiCA (Markets in Crypto-Assets) regulation and to operate as a payment institution under PSD2 (Payment Services Directive 2) rules. This was reported by Cointelegraph.com reports .
According to the Central Bank of Latvia, Paybis is the third company in the country to receive a MiCA license. This authorization allows for the custody of crypto-assets on behalf of clients, exchanging them for other currencies or assets, executing orders, and providing advisory services. The PSD2 license grants the company the right to process payments and handle account transfers.
Innokenty Isers, CEO and founder of Paybis, noted that the combination of these two licenses enables the company to provide comprehensive, future-oriented services, including the ability to work with stablecoins. The company plans to offer specialized API solutions for business clients, allowing other enterprises to provide regulated crypto services to their own customers.
Founded in 2014, Paybis currently supports nearly 90 cryptocurrencies and serves over seven million users across 180 countries. The company also holds relevant licenses to provide financial services in the United States and Canada.
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