Paxos is set to acquire Membrane Finance, a Finnish electronic money institution, which will allow them to comply with EU stablecoin regulations after June's enforcement.
With the acquisition, Paxos aims to be a fully licensed Electronic Money Institution (EMI) in Finland and the EU, strengthening its regulatory foothold.
Compliance with the new MiCA regulations is critical, as other firms like Coinbase are delisting unauthorized stablecoins, highlighting the urgency for alignment in the industry.
Paxos plans to ensure that its asset portfolio and tokenization solutions adhere to the stringent requirements of the Markets in Crypto Asset (MiCA) legislation.
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