Bit2Me has received authorization from the Bank of Spain that allows it to offer payment services based on electronic money tokens (“EMT”).
Thanks to this license, Bit2Me will have the possibility to incorporate payment solutions supported by EMT into its ecosystem, making it easier to use regulated ‘stablecoins’ in payments, transfers, and other digital financial services adjusted to the European regulatory framework.
The ‘exchange’ platform thus becomes the first Spanish firm to obtain this permit, adding it to the license as a securities firm for Bit2Me STX, and it also positions itself as the first crypto-asset service provider in Europe with a MiCA (“Markets in Crypto-Assets”) license to obtain the PSD2 license to operate transfers with ‘stablecoins’.
The MiCA Regulation establishes a specific framework for Electronic Money Tokens (EMT), whose issuance falls to authorized entities such as electronic money institutions or credit institutions.
Consequently, crypto-asset service providers working with these instruments must comply with the obligations set out in MiCA and, where applicable, with European payment services regulations, with the aim of strengthening user protection and market stability.
The process of obtaining this authorization has been coordinated by Bit2Me’s internal “legal and compliance” team, along with the specialized firm FinReg 360.
“Obtaining this authorization allows us to continue integrating the world of crypto-assets with the traditional financial system under the highest regulatory standards and accelerate the adoption of regulated digital assets in Europe,” said Bit2Me co-founder and CEO, Leif Ferreira.
