What Licences Did Paybis Receive?
Cryptocurrency platform Paybis has received two licences from Latvia’s central bank, including authorization under the European Union’s Markets in Crypto-Assets Regulation (MiCA) and a payment institution licence under Payment Services Directive 2 (PSD2).
The licences were issued on May 12 by the Supervision Committee of Latvijas Banka to SIA Paybis Europe, the company’s European Union entity. According to the central bank, Paybis is the third company in Latvia to obtain a MiCA crypto-asset service provider licence.
The MiCA authorization covers custody and administration of crypto assets, exchange services, order execution, transfer services, and crypto advisory operations. The PSD2 licence allows the company to execute payments and transfers to payment accounts through regulated payment rails.
Paybis CEO and co-founder Innokenty Isers said the dual authorization enables the company “to make a broad, future-focused offering, including working with stablecoins.”
Why Does Combining MiCA and PSD2 Matter?
The combination of MiCA and PSD2 licensing gives Paybis the ability to connect crypto services directly with regulated payment infrastructure inside the European Union. This creates a framework for integrating digital assets with traditional financial systems under a unified compliance structure.
Paybis said it is targeting business clients through a white-label crypto infrastructure offering that includes on- and off-ramps, payment acceptance, crypto swaps, and stablecoin payouts through a single API.
Konstantins Vasilenko, Paybis co-founder and chief business development officer, said the licensing structure is important because it allows the company to combine crypto asset services with regulated payment rails instead of operating them separately.
The strategy reflects growing demand from financial technology firms and payment providers seeking regulated infrastructure without building their own crypto licensing framework.
Investor Takeaway
How Does This Fit Into Europe’s Stablecoin Push?
Stablecoins are becoming a central focus of Europe’s digital asset market as regulated firms seek compliant settlement tools for cross-border payments and treasury operations.
Paybis said the licensing structure supports its plans to expand stablecoin-related services. This comes as European financial firms increasingly explore euro-denominated stablecoins and regulated payment integration under MiCA.
The broader market remains competitive. Banking Circle recently entered the bank stablecoin settlement segment in Europe, while Circle has criticized certain MiCA stablecoin thresholds, arguing that parts of the framework may limit growth and liquidity.
For regulators, stablecoins remain a key test case for whether MiCA can support innovation while maintaining financial oversight and consumer protections.
Investor Takeaway
Could Europe Already Be Moving Toward “MiCA 2”?
Even as companies begin operating under MiCA, European officials are already discussing future revisions to the framework. At Paris Blockchain Week 2026, European Commission adviser Peter Kerstens said it would be unusual if there were no “MiCA 2” over time, noting that EU financial legislation typically develops in stages.
The European Commission is expected to launch a public consultation to evaluate how MiCA is functioning for market participants. Debate is also growing around whether supervision of major crypto firms should move toward centralized oversight under the European Securities and Markets Authority.
The discussion reflects increasing pressure from both regulators and the crypto industry as firms adapt to the first major unified crypto framework in the European Union.
