Plasma News Today: Plasma’s Authorized Stack Facilitates Direct Euro Transactions Across Europe

Plasma, a blockchain network specializing in stablecoin payments, has obtained a Virtual Asset Service Provider (VASP) license in Italy, representing a significant milestone in its efforts to broaden stablecoin payment services throughout Europe. On October 23, the company shared in a

that it intends to use this license to build a regulated payment system, aiming to cut down on intermediaries and boost the efficiency of international transactions. also announced it will establish a new branch in Amsterdam, Netherlands, as part of its larger European growth plan, with the goal of enhancing its compliance structure and tapping into the expanding financial infrastructure sector within the EU.

With the VASP license, granted under the MiCA (Markets in Crypto-Assets) regulations, Plasma is now authorized to conduct crypto-related transactions and safeguard digital assets in the region. The firm is currently pursuing further regulatory approvals, such as MiCA’s Crypto Asset Service Provider (CASP) designation and an Electronic Money Institution (EMI) license. These additional licenses would permit Plasma to issue payment cards, manage client funds, and process direct euro transactions with conventional banks. Adam Jacobs, who leads

, stated, , that achieving a "comprehensively licensed payment system" would provide the company with "enhanced reliability and broader access for merchants, consumers, and organizations."

The new Amsterdam location, which will be overseen by a recently appointed chief compliance officer and a money laundering reporting officer, highlights Plasma’s dedication to meeting EU regulatory requirements. The Italian branch, formerly called GBTC Italia, will now operate as Plasma Italia SrL, while the Dutch office will be known as Plasma Nederland BV. Jacobs pointed out the Netherlands’ status as a "payments center" and its importance for "controlling more of the payment process, from stablecoin settlements to regulated financial infrastructure," according to CoinDesk.

Plasma’s expansion is in line with the increasing need for stablecoin-based payment options, which have handled $46 trillion in yearly transactions—outpacing established fintech leaders like PayPal and

, as referenced in . Plasma’s blockchain network, which currently manages $7 billion in stablecoin assets, seeks to become a scalable replacement for traditional payment systems by providing quicker settlements and reduced transaction costs. The company also intends to introduce Plasma One, a regulated stablecoin neobank, utilizing its compliance framework to keep customer assets separate and secure in accordance with EU regulations, as noted by CoinDesk.

Regulatory specialists highlight that Plasma’s VASP license, along with its dual approach to MiCA and EMI licensing, could simplify integration with established banking networks. By minimizing fragmentation between crypto custody and fiat payment channels, Plasma aims to facilitate direct euro transactions and attract financial institutions looking for more affordable cross-border payment solutions, according to Cryptonomist.