Paybis Secures MiCA, PSD2 Licenses in Latvia for Stablecoin Push
Terrill Dicki May 13, 2026 15:10
Paybis becomes the first in Latvia to hold both MiCA and PSD2 licenses, enabling regulated crypto services and stablecoin infrastructure.
Paybis, a cryptocurrency exchange founded in 2014, has secured two significant licenses in Latvia, positioning itself as a key player in Europe’s evolving crypto regulation era. On May 12, Latvia’s central bank granted Paybis a MiCA Crypto Asset Service Provider (CASP) license and a Payment Institution license under PSD2, making it the first company in the country to hold both.
The MiCA license, issued under the European Union’s Markets in Crypto-Assets Regulation, allows Paybis to provide a range of services, including custody and administration of crypto assets, crypto-to-fiat exchanges, and advisory services. The PSD2 license further enables the firm to facilitate payments and transfers across accounts, bridging the gap between crypto and traditional payment systems.
According to Paybis CEO Innokenty Isers, these dual licenses pave the way for “a broad, future-focused offering, including working with stablecoins.” Stablecoins are expected to be a core focus as the company seeks to integrate regulated payment and crypto services.
Targeting B2B Crypto Infrastructure
With these regulatory milestones, Paybis is gearing up to expand its business-to-business (B2B) offerings. Co-founder Konstantins Vasilenko revealed plans for a white-label crypto infrastructure stack aimed at businesses. This includes on/off-ramps, crypto swaps, payment acceptance, and stablecoin payouts—all accessible through a single API. Vasilenko emphasized that the combination of MiCA and PSD2 licenses is critical, as it enables Paybis to connect crypto services with regulated payment rails efficiently.
This strategy aligns with the EU's broader regulatory shift under MiCA, which aims to create a unified regulatory framework for crypto across member states. Latvia is emerging as a regulated hub, with Paybis joining a select group of companies authorized under MiCA.
EU's Regulatory Evolution
Paybis’ regulatory approval comes at a time of heightened scrutiny and potential evolution of the EU’s MiCA framework. In April, a European Commission advisor suggested that a “MiCA 2” could be on the horizon, reflecting the need to adapt financial regulations as the crypto market matures. The initial MiCA framework already covers stablecoins, crypto exchanges, and wallet providers, but ongoing industry feedback could steer future amendments.
Stablecoin issuers, like Circle, have raised concerns over certain thresholds imposed by MiCA, while debates continue over whether major crypto firms should be supervised centrally by the European Securities and Markets Authority (ESMA).
As regulatory clarity improves across Europe, companies like Paybis appear well-positioned to capitalize on the new rules. With 90 supported cryptocurrencies and a user base spanning 180 countries, the company’s dual licensing in Latvia could serve as a blueprint for others navigating MiCA compliance.
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