Plasma, the first-level blockchain $XPL , which develops infrastructure for stablecoin payments, announced the expansion of its activities in Europe. The company has obtained a virtual asset service provider license (#VASP ) in Italy, opened a new office in the Netherlands, and is preparing to submit applications for MiCA and Electronic Money Institution licenses (#EMI ).

As part of its European expansion, Plasma plans to create a regulated payment ecosystem based on stablecoins — from transaction processing to integration with financial institutions.

Thanks to the acquisition of a VASP-licensed company in Italy, Plasma can now legally process crypto transactions and hold clients' assets within the EU. The name of the acquired company has not yet been disclosed by Plasma.

The next step will be to obtain the status of a crypto asset service provider (CASP) under regulation #MiCA , as well as an EMI license. These permits will allow Plasma to exchange digital assets, issue cards, and hold users' funds under the supervision of regulators.

XPLUSDT

Perp

0.0874

-3.53%