Paybis Secures MiCA and PSD2 Licenses, Expands EU Crypto Payments

Paybis gains MiCA authorisation and PSD2 licence, widening regulated crypto payments in the EU

Digital asset platform Paybis announced it has obtained both Markets in Crypto-assets regulation, MiCA, authorisation and a Payment Services Directive 2, PSD2, payment institution licence. The approvals, granted the same day, place the company among a narrow group of crypto firms with full EU-level CASP authorisation plus payments regulation, a combination likely to affect how crypto firms sell services to consumers and businesses across the bloc.

Industry data cited by Paybis indicates there are more than 1,200 crypto firms operating in the European Union, but only a small fraction have completed the MiCA process. According to the company, roughly 57 firms hold MiCA authorisations, and far fewer also operate under PSD2. That scarcity reflects the regulatory and compliance work required to meet the new EU framework and national payment rules.

What the licences mean

MiCA, which establishes a comprehensive regime for crypto-assets across the EU, creates a single authorisation for crypto-asset service providers, often referred to as CASPs. A MiCA authorisation lets a CASP operate across all 27 EU member states under harmonised rules, simplifying cross-border service delivery compared with national-only approvals.

PSD2 governs payment services and payment institutions. A PSD2 payment institution licence enables a firm to provide regulated payment services, connect to payment systems and hold client funds under a supervised framework. For crypto companies, PSD2 status is often seen as a bridge to traditional payment rails and banking-like functionality without necessarily becoming a bank.

Together, the two licences allow a provider to combine regulated crypto services with payments infrastructure, which can be particularly relevant for products such as fiat on- and off-ramps, stablecoin disbursements and cross-border payouts.

Market implications and business lines

For consumers, the combination of MiCA and PSD2 can increase trust in services that mix crypto and fiat flows, because firms are subject to EU-level conduct and prudential requirements as well as payment services supervision. For businesses, the licences make it easier to integrate interoperable, regulated infrastructure for token-based payouts, payroll solutions denominated in stablecoins, or cross-border settlement tied to traditional payment rails.

In practical terms, a regulated payment institution can process transfers and access payment networks, while a MiCA-authorised CASP can custody, trade and service crypto-assets. That pairing is particularly attractive to institutional clients and regulated enterprises that seek partners with clear legal standing and supervisory accountability.

Industry framing: a two-tier EU market

Regulators and industry participants have said the EU market is bifurcating. One tier consists of legacy operators that complied with anti-money laundering registration regimes, and the other is a smaller set of firms that secured full MiCA CASP authorisation. Adding PSD2 on top of MiCA further narrows the field because payment institution authorisations involve separate capital, governance and compliance standards.

That dynamic could accelerate consolidation in the European crypto sector. Firms that secure both permissions may gain preferential access to enterprise clients and payment partners. Conversely, smaller exchanges and non‑authorised platforms may face higher barriers to growth if commercial partners or regulated customers demand counterparties with EU licences.

Risks and operational commitments

While dual authorisations open new commercial pathways, they also impose ongoing supervisory obligations. MiCA and PSD2 both carry compliance, reporting and operational resilience requirements. Firms must maintain governance frameworks, manage client funds prudently and demonstrate controls that satisfy both financial regulators and national competent authorities. Compliance costs and oversight will likely increase as authorities monitor market conduct and anti-money laundering safeguards under the new regime.

Market participants and observers will be watching how quickly other players pursue similar dual licences and whether banks and payment providers deepen partnerships with authorised CASPs. The licences could also affect product design, from fiat on‑ramp offerings to tokenised asset settlement models, as providers seek to leverage regulated rails while remaining within the EU supervisory perimeter.

Paybis's approvals are an early indicator of how firms are positioning for a regulated crypto landscape in Europe. The real test will be in deployment: how the company integrates payments functionality into its product suite, the partnerships it builds with financial intermediaries, and how customers respond to regulated offerings that combine crypto services with conventional payments.

As MiCA implementation progresses across member states and national authorities operationalise supervision, the list of fully authorised EU crypto-payment providers will remain a key metric for institutional adoption and market structure.

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