Crypto payments firm MoonPay has received approval to operate as a licensed crypto business in the Netherlands under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.
Announced on today, the license was issued by the Dutch Authority for the Financial Markets.
MiCA, adopted in 2023, became enforceable for crypto asset service providers across the EU on the same date. MoonPay, a provider of fiat-to-crypto and crypto-to-fiat services, stated that it would continue offering these services under its new Dutch license.
Ivan Soto-Wright, MoonPay’s co-founder and CEO, described the approval as a “pivotal step in solidifying the crypto industry’s role in the global economy.”
The milestone also marked the conclusion of MiCA’s implementation phase and the start of an 18-month transitional period. During this time, crypto firms already operating under existing laws in EU member states can continue their operations until July 2026 or until their licenses are reviewed.
Since the introduction of MiCA in 2020 and its passage in 2023, EU regulators have steadily implemented rules to govern the crypto industry. Stablecoins, for instance, have been subject to enforcement since June 30, leading to changes like the delisting of Tether by some exchanges.
Meanwhile, MoonPay is reportedly negotiating the acquisition of crypto e-commerce platform Helio Pay in a deal valued at around $150 million.
If finalized, this would represent MoonPay’s largest acquisition to date. Often referred to as the “PayPal for crypto,” the company provides infrastructure for crypto payments, allowing users to buy and sell digital assets using debit and credit cards, as well as mobile payment systems like Apple Pay and Google Pay.
The potential acquisition of Helio Pay would expand MoonPay’s merchant services offerings and customer base, which already spans over 20 million users in more than 160 countries.
The acquisition would strengthen MoonPay’s foothold in the e-commerce and cryptocurrency payments sectors, leveraging Helio Pay’s self-service platform to further diversify its offerings.
MoonPay has recently introduced several new features, including a fiat-to-crypto on-ramp solution and MoonPay Balance, a tool allowing users to store and spend fiat balances while interacting with decentralized finance (DeFi) protocols through wallets like MetaMask and Phantom.
Backed by investors such as Paradigm and Coatue, MoonPay was valued at $3.4 billion after raising $555 million in a Series A funding round in 2021. The company contributed $1 million to Stand With Crypto, an advocacy group with a political action committee (PAC) established by cryptocurrency exchange Coinbase.