Crypto platform Paybis has secured a dual license in Latvia, making it the latest firm to tap on the EU markets.
The firm announced on Wednesday that its has secured two licences from Latvia’s central bank, including one for crypto-asset services under the European Union’s Markets in Crypto-Assets Regulation (MiCA) and another for payment institution operations under Payment Services Directive 2 (PSD2).
The announcement comes just a day after Paybis said that it is bringing PayPal payments to U.S. crypto buyers in bid to boost adoption. The exchange aims to simplify crypto adoption with PayPal integration for over 60 million intrigued Americans.
Under the MiCA licence, the services provided include custodial activities for crypto-assets in favour of clients, exchange of crypto-assets against money or other crypto-assets, order execution, transfers of crypto-assets and crypto-assets advisory, Latvijas Banka informed. In addition, according to the central bank, the licence under PSD2 as a payment institution permits Paybis to perform payments and effect transfers to payment accounts.
Paybis CEO and co-founder Innokenty Isers said the dual licensing allows the firm “to make a broad, future-focused offering, including working with stablecoins.”
Paybis targets businesses with white-label crypto services
Paybis is focusing on helping businesses add crypto features to their apps and services without needing to build everything from scratch. The company offers a “white-label” system, which means businesses can use Paybis’ technology under their own brand name.
Through a single API, companies can let customers buy, sell or swap cryptocurrencies, move money between crypto and traditional currencies, accept crypto payments and send stablecoin payouts.
According to Paybis, its newly acquired licences for MiCA and PSD2 are significant since they will enable the company to integrate the services of both crypto and fiat payments.
The move is beneficial for European companies that provide cryptocurrency services while adhering to financial regulations.
Paybis licensing comes as MiCA 2.0 roll out picks pace
Paybis’ new licensing comes at a time when the entire EU is debating the rollout of a “MiCA 2.0” in the region.
In April, a senior adviser to the European Commission said the European Union’s MiCA crypto regulations are likely to change and develop over time as authorities continue evaluating how effective the framework is for the industry.
Speaking during Paris Blockchain Week 2026, Peter Kerstens said it would be “rather unusual” if there were never a future version known informally as “MiCA 2,” explaining that EU financial regulations are typically introduced in phases and later adjusted based on market developments and feedback from businesses.
The European Commission is now preparing a public consultation process that will allow companies, investors and other market participants to share their views on whether the current MiCA rules are functioning as intended or creating challenges for the sector.
The criticisms arrive at a time when the controversy regarding MiCA is rapidly increasing within the cryptocurrency community. Circle, the issuer of stablecoins, has also brought up concerns about potential regulations for euro-denominated stablecoins, arguing that these regulations may impede innovation.
In addition, European legislators have been considering whether major cryptocurrency firms need to be overseen by the European Securities and Markets Authority.