MoonPay Secures Dutch EMI License to Launch Euro Stablecoins and Payment Services

MoonPay Europe has secured an Electronic Money Institution (EMI) license from the Dutch Central Bank, a pivotal regulatory win that authorizes the firm to issue euro-denominated stablecoins and provide custodial payment services. For fintech professionals, this move signals a consolidation of crypto and traditional fiat rails under a single, highly regulated European entity.

What was announced

The Dutch Central Bank (De Nederlandsche Bank) has granted MoonPay Europe an Electronic Money Institution (EMI) license, significantly broadening the firm’s operational scope within the European market. This authorization specifically targets custodial payment flows and the issuance of stablecoins, allowing MoonPay to offer dedicated payment accounts and related financial services to both retail consumers and business clients.

A primary feature of this license is the ability to enter the euro-denominated stablecoin market. MoonPay now joins a select group of Dutch-based firms, including Quantoz, capable of issuing open-loop stablecoins from the Netherlands. Furthermore, the company distinguishes itself as the third entity in the Netherlands to hold both a MiCA Crypto-Asset Service Provider (CASP) authorization and an EMI license within the same corporate structure. Notably, MoonPay is the first among this group to combine these two licenses while maintaining open-loop stablecoin issuance capabilities, which provides the firm with broader operational options across the region.

This development follows MoonPay’s 2024 acquisition of a MiCAR CASP license, reinforcing its position within the European Union’s evolving regulatory framework and establishing a track record for stablecoin issuers. The firm intends to use this new regulatory foundation to roll out payment accounts, stablecoin products, and card-based offerings across the region in the coming months. These products are intended to serve as the foundation for MoonPay's future developments in the European market, building on its existing status as a regulated crypto-asset service provider.

The companies involved

MoonPay is a major player in the global cryptocurrency infrastructure space, providing the "on-and-off-ramp" technology that allows users to purchase digital assets using traditional payment methods like credit cards, bank transfers, and mobile wallets. Since its inception, the firm has focused on reducing friction between the traditional financial system and the blockchain ecosystem. MoonPay operates as an independent entity and has established itself as a high-volume bridge for retail crypto adoption, frequently partnering with major wallets, marketplaces, and decentralized applications to facilitate seamless transactions.

The company’s presence in the Netherlands is central to its European strategy, particularly as the region transitions toward the comprehensive Markets in Crypto-Assets (MiCA) regulation. By securing licenses through the Dutch Central Bank, MoonPay positions itself within a jurisdiction known for rigorous financial oversight and strict compliance standards, which serves as a gateway to the broader European Economic Area. With over 80 reports on its activities within FF News’ own archives, MoonPay has consistently been at the forefront of integrating mainstream payment methods into the Web3 environment, evolving from a simple gateway into a multi-licensed financial institution.

What FF News has reported before

FF News has tracked MoonPay’s regulatory and product expansion extensively, with 82 stories currently in our archives. Recently, the publication reported that MoonPay Europe receives Electronic Money Institution licence from the Dutch Central Bank, marking the initial confirmation of this regulatory shift. We also covered the firm’s infrastructure partnerships, such as when PayPal, MoonPay, and M0 Launch PYUSDx to Power Custom Stablecoin Infrastructure, a platform that has already crossed $100 million in scale. Additionally, MoonPay has focused on expanding user accessibility through payment integrations, as seen when Cash App Pay is now a payment method on MoonPay. These reports collectively demonstrate MoonPay's transition from a transactional gateway to a regulated financial services provider.

What this means

This announcement moves the needle by demonstrating that the "all-in-one" regulatory model is the new benchmark for crypto-native firms in Europe. By housing both CASP and EMI licenses in a single entity, MoonPay reduces the operational friction of managing separate fiat and crypto silos. This puts significant pressure on traditional banks that have been slow to adopt stablecoin issuance, as well as crypto exchanges that rely on third-party banking partners for their euro on-ramps. The move raises critical questions about whether the Dutch Central Bank will become the preferred hub for stablecoin issuers under MiCA, potentially centralizing European crypto-fiat liquidity within the Netherlands.