MoonPay Secures Dutch EMI License For European Stablecoin Issuance

MoonPay Adds EMI License to Its Dutch MiCA Approval

@MoonPay has received an Electronic Money Institution (EMI) license from the Dutch Central Bank (De Nederlandsche Bank, DNB), authorizing the firm to issue regulated stablecoins and manage custodial payment accounts across the European Union. The development builds on MoonPay's existing MiCA-compliant Crypto-Asset Service Provider (CASP) authorization, which it holds through the Dutch Authority for the Financial Markets (AFM).

According to the French financial regulator AMF, MoonPay Europe B.V. has been granted a MiCA license by the Dutch competent authority (AFM) and is authorized to provide crypto-asset services across the EU under the free provision of services. The new EMI license layers stablecoin issuance capabilities on top of that existing authorization, making MoonPay the first entity in the Netherlands to hold both within a single legal entity.

MoonPay provides the regulatory and technical infrastructure for hundreds of third-party decentralized applications and self-custody software wallets, meaning the dual-license structure has direct implications for the broader ecosystem of products built on its rails. The company intends to use the combined authorization to roll out euro-denominated stablecoins and integrated card products, reducing reliance on legacy banking infrastructure.

Why the Dutch Jurisdiction Matters

The Netherlands has become one of the more active MiCA licensing hubs in Europe. In the Netherlands, CASP licenses under MiCA are supervised by both the AFM and the DNB, with the DNB also serving as the competent authority for EMI authorizations. That dual-regulator structure means firms operating in the Netherlands face scrutiny on both the crypto-asset services side and the e-money side, making a clean approval across both a credible signal of regulatory fitness.

MiCA-compliant stablecoins are classified as e-money tokens (EMTs) or asset-referenced tokens (ARTs), and their issuers must hold a license under the EU Markets in Crypto-Assets Regulation, which became fully applicable on December 30, 2024. Under MiCA, an EMT is pegged to a single official currency and issued by an authorized EMI or credit institution under MiCA Title IV. MoonPay's new EMI license satisfies exactly that requirement for euro-pegged issuance.

The strategic value extends beyond the Netherlands. Authorized EMT issuers and CASPs can operate across all 27 EU member states without needing separate licenses in each jurisdiction, effectively giving MoonPay a single regulatory passport to distribute its stablecoin products across the bloc.

Backed by investors including Paradigm and Coatue, MoonPay was valued at $3.4 billion after raising $555 million in a Series A funding round in 2021. The company operates across more than 180 countries and supports over 100 digital assets.

Sources:
AMF France: MoonPay Europe B.V. MiCA Authorization
FinanceFeeds: MoonPay Secures Crypto License in the Netherlands
Scorechain: EU Stablecoin Regulation Under MiCA