MoonPay Secures Dutch EMI License to Expand Stablecoin and Payment Services in Europe

MoonPay Europe has secured an Electronic Money Institution (EMI) license from the Dutch Central Bank, a pivotal move that enables the firm to issue open-loop stablecoins from the Netherlands. For fintech professionals, this represents a significant consolidation of regulatory power under the MiCA framework, positioning MoonPay as a primary gateway for compliant digital asset transactions across Europe.

What was announced

MoonPay Europe’s receipt of the Electronic Money Institution (EMI) license from the De Nederlandsche Bank (DNB) marks a strategic expansion of its regulatory footprint. This authorization allows the company to operate as an electronic money issuer within the Netherlands, placing it in an exclusive bracket of Dutch-based firms capable of issuing open-loop stablecoins. Crucially, MoonPay is now the third company in the Netherlands to hold both a Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider (CASP) authorization and an EMI license.

However, the firm distinguishes itself by being the first of these three to house both licenses within a single legal entity while maintaining the capability for open-loop stablecoin issuance. This structural advantage provides MoonPay with broader operational flexibility than its competitors in the Dutch market. The timing is notable as MoonPay was among the first to secure a MiCAR CASP license in 2024, establishing a multi-year track record of operating within Europe’s evolving regulatory environment.

Beyond the European regulatory landscape, the announcement included a significant update for the North American market. Eligible customers in the United States can now utilize their Cash App balance during the checkout process on MoonPay. This integration bridges a major mobile payment ecosystem with MoonPay’s crypto-on-ramp services, streamlining the transition between fiat and digital assets for millions of US-based users.

"The EMI license opens up significant new ground for MoonPay in Europe. This placement puts MoonPay among a small group of Dutch-based companies that can issue open loop stablecoins from the Netherlands. It makes MoonPay the third Netherlands-based company to hold both a MiCA Crypto-Asset Service Provider (CASP) authorisation and an EMI license within a single entity."

MoonPay Europe.

The companies involved

MoonPay is a prominent infrastructure provider in the cryptocurrency space, focusing on bridging the gap between traditional fiat currencies and digital assets. The company provides a suite of products that allow users to buy and sell cryptocurrencies using conventional payment methods like credit cards, bank transfers, and mobile wallets. Since its inception, MoonPay has positioned itself as a "plug-and-play" solution for businesses looking to integrate crypto-on-and-off-ramps into their own platforms.

Operating globally, MoonPay has focused heavily on regulatory compliance as a differentiator in a sector often scrutinized by financial authorities. The firm’s presence in the Netherlands serves as a strategic hub for its European operations, particularly as the European Union implements the MiCA framework to standardize digital asset regulation across member states. By securing both EMI and CASP licenses, MoonPay functions as both a traditional fintech entity and a specialized crypto service provider. This dual-threat capability is central to its market position, allowing it to handle the complexities of electronic money issuance alongside the custody and exchange of crypto-assets without relying on third-party intermediaries for core licensing requirements.

What FF News has reported before

FF News has closely followed MoonPay’s trajectory, with 79 stories documenting its expansion and product launches. Recently, the publication covered the initial news of the firm’s regulatory progress in MoonPay Secures Dutch EMI Licence to Unlock Euro Stablecoin Issuance. The company has also been active in the sports and gaming sectors; FF News reported on how MoonPay and Solana Bring Crypto Payments to World Series of Poker for First Time. Additionally, the firm’s merchant-facing efforts were highlighted when MoonPay and House of Doge Launch ÐOGE Pay to Enable Dogecoin Payments for 6,000 Merchants. Other related ecosystem developments include PayBox Integrates Sunrise to Enable AI-Driven Crypto Trading on Solana via ChatGPT and Claude, reflecting the broader integration of MoonPay’s partners.

What this means

The convergence of EMI and CASP licenses within a single entity is a significant indicator of where the European digital asset market is heading. By securing these permissions in the Netherlands, MoonPay is effectively bypassing the fragmentation that often plagues fintechs relying on "rented" licenses or complex partnership webs. This move puts immense pressure on traditional e-money institutions that have been slow to adopt crypto capabilities, as well as crypto exchanges that lack the regulatory permission to issue their own stablecoins. The industry must now consider whether the "single entity" model will become the gold standard for compliance under MiCA, potentially forcing a wave of consolidation or re-licensing across the Eurozone.