Stablecoin company Zerohash has secured a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA), making it one of the first infrastructure providers authorized to offer stablecoin services across the EU.
Zerohash Europe announced Sunday that it acquired a license from the Dutch Authority for the Financial Markets (AFM). This allows the company to provide stablecoin and crypto products to banking institutions, financial technology firms and payment platforms across the 30 European Economic Area (EEA) countries. The AFM’s official registry confirmed that Zerohash has become a registered crypto-asset service provider (CASP).
The approval positions Zerohash’s European arm as a CASP that can function as the backbone for organizations exploring tokenized assets, stablecoins and other blockchain-based financial products.
Cointelegraph reached out to Zerohash for more information, but did not get a response by publication.
Zerohash wins EU license as Mastercard eyes $2 billion acquisition
Zerohash was founded in 2017 and provides crypto infrastructure solutions to clients like Morgan Stanley, Franklin Templeton and Stripe. The company’s MiCA license approval follows reports that payments provider Mastercard is eyeing a $2 billion acquisition of the company.
Citing anonymous sources, Fortune reported Wednesday that Mastercard was in advanced talks to acquire the startup in a deal valued from $1.5 billion to $2 billion.
The development follows earlier efforts from Mastercard to expand its participation in the stablecoin space.
In August, Mastercard announced that it would enable acquirers and merchants in Eastern Europe, the Middle East and Africa (EEMEA) to settle transactions in Circle’s USDC (USDC) and Euro Coin (EURC).
Companies like the Arab Financial Services and Eazy Financial Services will be the first to adopt the services. This marks the first stablecoin settlement available through Mastercard in the EEMEA region.
Related: Coinbase mulls $2B BVNK startup acquisition in stablecoin push: Report
In September, Kazakhstan’s central bank collaborated with Mastercard and Solana on a pilot project involving a stablecoin pegged to its local fiat currency.
On Sept. 23, the National Bank of Kazakhstan launched the stablecoin project within the framework of its Digital Assets Regulatory Sandbox.
The Evo (KZTE) stablecoin is pegged to the country’s tenge currency and is issued by sandbox participant Intebix Crypto Exchange and local lender Eurasian Bank.
Magazine: China officially hates stablecoins, DBS trades Bitcoin options: Asia Express