What licences did Paybis receive in Latvia?

Paybis received both a MiCA crypto-asset service provider licence and a PSD2 payment institution licence from Latvijas Banka. The approvals allow the company to operate regulated crypto and payment services across the European Union. Paybis said it is the first company in Latvia to hold both licences simultaneously.

Why are the MiCA and PSD2 licences important for crypto companies?

The MiCA licence allows Paybis to legally offer crypto custody, trading, transfer and advisory services throughout the EU under a unified regulatory framework. The PSD2 licence separately enables regulated payment processing and transfers through European banking rails. Together, the approvals create a bridge between traditional payments and crypto infrastructure.

What is MiCA and why does it matter for the crypto industry?

MiCA, short for Markets in Crypto-Assets Regulation, is the European Union’s comprehensive crypto regulatory framework. It creates standardised rules for crypto firms operating across EU member states. Many companies see MiCA as one of the world’s most important crypto regulatory regimes because it provides clearer legal certainty for digital asset businesses.

What services will Paybis offer under the new licences?

Paybis said it plans to expand stablecoin services, crypto on-ramps, swaps, payment acceptance and payout infrastructure for business clients. The company also intends to provide white-label crypto infrastructure through a single API. This would allow other businesses to integrate regulated crypto services without building their own systems from scratch.

Why is Paybis focusing on stablecoins and payment infrastructure?

Stablecoins are increasingly viewed as one of crypto’s most practical use cases because they support faster and lower-cost digital payments. Combining stablecoins with regulated payment rails could help businesses move money more efficiently across borders. Paybis appears to be positioning itself as infrastructure for companies wanting crypto-enabled payment systems.

How could these licences help Paybis expand across Europe?

MiCA creates a passporting framework that can allow authorised firms to operate across the EU under a single regulatory approval. That means Paybis may be able to scale services more easily across multiple European markets. Regulatory approval can also improve trust with institutional and business customers.

Why is Europe becoming important for crypto regulation?

The European Union has moved faster than many jurisdictions in creating comprehensive crypto rules. Some companies view Europe as more predictable than markets where regulation remains unclear or fragmented. As a result, many crypto firms are prioritising EU expansion and MiCA licensing strategies.

What does PSD2 mean in simple terms?

PSD2, or the Payment Services Directive 2, is a European regulation covering digital payments and financial services. It governs how companies process payments, access banking systems and transfer funds. Holding a PSD2 licence allows Paybis to connect crypto services with regulated payment infrastructure.

Paybis secures dual Latvia licences for EU crypto push

Written by Heidi Cuthbert Published May. 14 2026Last Updated May. 14 2026

Paybis received both a MiCA crypto-asset service provider licence and a PSD2 payment institution licence from Latvijas Banka as the company expands regulated crypto infrastructure services across the European Union.

The licences were granted to SIA Paybis Europe on May 12, making Paybis the first company in Latvia to simultaneously hold both approvals, according to the central bank.

Latvijas Banka said the MiCA licence authorises Paybis to provide custody, crypto exchange, transfer, execution and advisory services tied to digital assets across EU markets.

The PSD2 payment institution licence separately enables the company to process payments and execute transfers to payment accounts through regulated European payment rails.

Paybis chief executive Innokenty Isers said the combined approvals would help the company expand stablecoin-focused services and broader regulated crypto offerings within Europe.

Co-founder Konstantins Vasilenko said the company plans to target business clients through white-label crypto infrastructure products including on-ramps, swaps, payment acceptance and stablecoin payout services delivered through a single API.

The approvals come as European regulators continue refining the European Union’s Markets in Crypto-Assets framework, with officials and industry participants already discussing potential future updates to MiCA amid broader debates around stablecoin oversight and supervision of large crypto firms.