TLDR
- Plasma secures a VASP-licensed entity in Italy and opens an office in Amsterdam.
- The company aims for Crypto-Asset Service Provider (CASP) and Electronic Money Institution (EMI) licenses under the EU’s MiCA framework.
- Plasma hires experienced compliance personnel, including a Chief Compliance Officer and a Money Laundering Reporting Officer.
- The Netherlands office positions Plasma to integrate fiat on/off ramps and offer regulated financial infrastructure.
- Plasma’s stablecoin neobank, Plasma One, provides digital dollars with savings, card spending, and cross-border transfer capabilities.
Plasma has secured a VASP-licensed entity in Italy and opened an office in Amsterdam to further its European expansion. The blockchain platform is working to achieve comprehensive regulatory authorization for its stablecoin-focused payments infrastructure. Plasma intends to apply for Crypto-Asset Service Provider (CASP) authorization under the EU’s MiCA framework.
Plasma Targets Full Regulatory Compliance Under MiCA Framework
Plasma is committed to obtaining the necessary licenses to operate within the European Union. The company plans to apply for CASP authorization, which will allow it to provide custody and exchange services within a harmonized regulatory framework. By gaining CASP status, Plasma can streamline its operations and offer secure, compliant, and stablecoin services to its users.
Alongside CASP authorization, Plasma is pursuing an Electronic Money Institution (EMI) license in the Netherlands. This license will enable Plasma to integrate fiat on- and off-ramps into its stablecoin infrastructure. The move will support the company’s broader goal of offering seamless stablecoin transactions across Europe.
The Netherlands office serves as a strategic hub for Plasma’s European operations. The country is a key payments region, home to many major payment providers. Establishing a presence in the Netherlands will allow Plasma to tap into the robust European payment ecosystem and better serve its growing customer base.
Company Commits to High Standards in Compliance
Plasma has also strengthened its compliance team by hiring experienced professionals. These new hires include a Chief Compliance Officer and a Money Laundering Reporting Officer. These additions will help Plasma navigate the complex regulatory landscape in Europe and ensure full compliance with local and EU regulations.
Jacob Wittman, Plasma’s general counsel, highlighted the company’s commitment to regulatory excellence. He stated, “We aim to set a high standard for blockchain-native stablecoin infrastructure by securing the right licenses and owning the regulated stack end to end.”
The expanded regulatory team and office presence will help Plasma maintain its focus on compliance while scaling its stablecoin infrastructure across Europe. As demand for compliant digital dollar infrastructure grows, Plasma is well-positioned to lead the market.
Plasma’s Vision for Stablecoin Payments and Cross-Border Transfers
Plasma’s expansion into Europe is also aimed at strengthening its stablecoin payment services. The company’s stablecoin neobank, Plasma One, offers digital dollars with savings yields, card spending capabilities, and cross-border transfers. With the acquisition of regulatory licenses, Plasma aims to provide a complete, compliant solution for stablecoin-based payments.
By securing licenses for custody, exchange, and payment operations, Plasma aims to reduce third-party risks. The company believes that controlling the whole stack will lower costs and accelerate its product rollouts. This vertical integration will also speed up Plasma’s ability to offer cutting-edge financial services to customers across Europe.
