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Stablecoin company Zerohash has secured a license under the European Union Market in Crypto-Assets Regulation (MiCA), making it one of the first infrastructure providers authorized to offer stablecoin services across the EU.
Zerohash Europe announced On Sunday it acquired a license from the Dutch Financial Markets Authority (AFM). This allows the company to provide stablecoin and crypto products to banking institutions, financial technology companies and payment platforms in the 30 countries of the European Economic Area (EEA). The official register of the AFM 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 receive a response from the publication.
Zerohash wins EU license as Mastercard eyes $2 billion acquisition
Zerohash was founded in 2017 and provides crypto infrastructure solutions to clients such as Morgan Stanley, Franklin Templeton and Stripe. The approval of the company’s MiCA license follows reports that payments provider Mastercard is considering a $2 billion acquisition of the company.
Citing anonymous sources, Fortune reported on Wednesday that Mastercard was in advanced discussions to acquire the startup in a deal valued at $1.5 billion to $2 billion.
The development follows earlier efforts by Mastercard to expand its involvement in the stablecoin space.
In August, Mastercard announced that it will allow buyers and merchants in Eastern Europe, the Middle East and Africa (EEMEA) to settle transactions in Circle’s USDC (USDC) and Euro Coin (EURC).
Companies such as Arab Financial Services and Eazy Financial Services will be the first to adopt the services. This marks the first stablecoin establishment available for Mastercard in the EEMEA region.
Related: Coinbase considering acquisition of $2B startup BVNK in stablecoin push: Report
In September, the central bank of Kazakhstan has partnered with Mastercard and Solana on a pilot project involving a stablecoin pegged to their local fiat currency.
On September 23, the National Bank of Kazakhstan launched the stablecoin project within the framework of its Digital Asset Regulatory Sandbox.
The stablecoin Evo (KZTE) 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
