Paybis wins MiCA CASP and PSD2 licenses in Latvia
SIA Paybis Europe received MiCA CASP and PSD2 payment institution licenses from Latvijas Banka on May 12, enabling regulated crypto services and EU payment execution.
Latvijas Banka’s Supervision Committee issued MiCA CASP and PSD2 payment institution licenses to SIA Paybis Europe on May 12, authorizing the firm’s EU unit to provide regulated crypto-asset services and execute payments across the European Union.
The MiCA CASP authorization permits custody and administration of crypto assets for clients, exchange of crypto-assets for fiat or other tokens, execution of client orders, transfer services and crypto-asset advisory. The PSD2 payment institution license allows the company to carry out payments and make transfers to payment accounts within the EU legal framework.
Latvijas Banka said Paybis is the third company in Latvia to receive a MiCA CASP authorization. Paybis, founded in 2014, supports about 90 cryptocurrencies, reports seven million users in 180 countries and holds money services business licenses in the United States and Canada. The new licenses give the EU entity a regulated base to operate across the bloc while linking crypto services with traditional payment systems.
Innokenty Isers, CEO and co-founder, said the permissions enable the firm “to make a broad, future-focused offering, including working with stablecoins.”
Konstantins Vasilenko, co-founder and chief business development officer, described plans to offer a white-label crypto infrastructure stack for business clients. The stack would cover on- and off-ramps, buy/sell/swap functions, payment acceptance and stablecoin payouts through a single API, allowing partners to provide crypto services without building their own regulated setup. He said combining MiCA CASP authorization with PSD2 licensing lets Paybis connect crypto-asset services with regulated payment rails.
European officials have indicated MiCA may evolve and that a public consultation is planned to assess how the rules work for market participants. Industry debate continues over stablecoin rules and the scope of supervision for major crypto firms.
The Latvian authorizations add to the number of licensed crypto service providers in the EU and give Paybis a regulated framework to expand both retail and business offerings within the bloc.
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