MoonPay Secures Dutch EMI Licence to Unlock Euro Stablecoin Issuance

MoonPay Europe has secured an Electronic Money Institution (EMI) licence from the Dutch Central Bank, marking a significant regulatory milestone in the Netherlands. By combining this with its existing MiCA authorisation, the firm can now issue euro-denominated stablecoins and offer payment accounts, positioning itself as a rare dual-licensed entity capable of bridging traditional finance and digital assets.

What was announced

The Dutch Central Bank (De Nederlandsche Bank) has granted MoonPay Europe an Electronic Money Institution (EMI) licence, a move that significantly expands the firm’s operational scope within the European Economic Area. This regulatory approval empowers MoonPay to provide payment accounts to both individual consumers and business clients, alongside a suite of related payment services. Crucially, the licence authorises the company to issue stablecoins, facilitating its formal entry into the burgeoning euro-denominated stablecoin market.

MoonPay is now one of only three companies based in the Netherlands to hold both a Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider (CASP) authorisation and an EMI licence within a single legal entity. However, the company distinguishes itself as the first among this group to integrate these two licences while maintaining the specific capability to issue open-loop stablecoins. This unique regulatory standing provides the firm with a broader range of service options from its Dutch base than competitors in the same category.

This development follows MoonPay’s earlier regulatory successes in Europe, including being among the first to secure a MiCAR CASP licence in 2024. The company views this latest authorisation as a foundation for its regional growth. In the coming months, the firm intends to build upon this infrastructure by introducing new payment accounts, stablecoin issuance programmes, and card products across the European market.

"The licence allows MoonPay to offer payment accounts to consumers as well as business customers, along with related payment services. Furthermore, the licence allows MoonPay to issue stablecoins, enabling entry into the euro-denominated stablecoin market."

MoonPay

The companies involved

MoonPay is a prominent player in the financial technology and cryptocurrency infrastructure sector, primarily known for providing the "on-ramp" and "off-ramp" services that allow users to purchase digital assets using traditional fiat currencies. Since its inception, the company has focused on simplifying the user experience for entering the web3 ecosystem, partnering with various wallets, exchanges, and consumer brands to embed crypto purchasing directly into their platforms. The firm has established a significant presence in the global market, often acting as the primary gateway for retail investors and institutional partners looking to navigate the complexities of blockchain-based transactions.

The Dutch Central Bank, or De Nederlandsche Bank (DNB), serves as the central bank of the Netherlands and is a key member of the European System of Central Banks. As the primary financial regulator in the jurisdiction, the DNB is responsible for maintaining price stability and ensuring the integrity of the Dutch financial system. Its oversight extends to the supervision of banks, pension funds, and increasingly, crypto-asset service providers and electronic money institutions. The DNB is known for its rigorous standards regarding anti-money laundering (AML) and "know your customer" (KYC) protocols, making the acquisition of an EMI licence a significant hurdle for fintech firms.

What FF News has reported before

FF News has followed MoonPay’s efforts to integrate digital assets into mainstream consumer experiences. In June 2026, the publication reported on how MoonPay and Solana Bring Crypto Payments to World Series of Poker for First Time, a move that showcased the company's ability to handle high-profile live event transactions. Around the same time, the firm expanded its merchant reach through a partnership with the House of Doge. As detailed in the report MoonPay and House of Doge Launch ÐOGE Pay to Enable Dogecoin Payments for 6,000 Merchants, the initiative aimed to facilitate meme-coin payments for thousands of vendors, further cementing MoonPay's role as a bridge between community-driven crypto assets and real-world commerce.

What this means

This development moves the needle by forcing a confrontation between regulated euro-stablecoins and the unregulated dollar-pegged assets that currently dominate liquidity. It places traditional banks under pressure to justify their slower pace of blockchain adoption, as fintechs now hold the same EMI credentials with superior technical agility. The industry must now ask if the "single entity" model for MiCA and EMI compliance will become the mandatory blueprint for survival in a post-MiCA Europe. By securing open-loop stablecoin capabilities, MoonPay is not just joining the market; it is setting a high bar for regulatory transparency that offshore competitors will find difficult to match.