EU Market Archives - Coin Engineer https://coinengineer.net/blog/tag/eu-market/ Btc, Coins, Pre-Sale, DeFi, NFT Tue, 19 Nov 2024 18:30:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png EU Market Archives - Coin Engineer https://coinengineer.net/blog/tag/eu-market/ 32 32 Paxos Steps Into the EU Market by Acquiring Membrane Finance! https://coinengineer.net/blog/paxos-steps-into-the-eu-market-by-acquiring-membrane-finance/ https://coinengineer.net/blog/paxos-steps-into-the-eu-market-by-acquiring-membrane-finance/#respond Tue, 19 Nov 2024 20:30:12 +0000 https://coinengineer.net/blog/?p=32505 Paxos, one of the leading stablecoin providers in the cryptocurrency sector, has reached an agreement to acquire Membrane Finance, a regulated electronic money institution based in Finland. If approved by local regulators, this acquisition will make Paxos a fully licensed Electronic Money Institution (EMI) in the European Union. Paxos stated that the acquisition of Membrane

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]]> Paxos, one of the leading stablecoin providers in the cryptocurrency sector, has reached an agreement to acquire Membrane Finance, a regulated electronic money institution based in Finland. If approved by local regulators, this acquisition will make Paxos a fully licensed Electronic Money Institution (EMI) in the European Union.

Paxos stated that the acquisition of Membrane Finance will support its goal of providing secure and compliant services to its customers in Europe.

Walter Hessert, Chief Strategy Officer at Paxos, noted that stablecoins are rapidly becoming a “mainstream” consumer product, and emphasized their aim to offer more comprehensive services to European customers through the acquisition of Membrane.

Membrane Finance is known for its EURe stablecoin, which is pegged to the euro. Launched in 2023, EURe is marketed as “Europe’s first and only fully reserved stablecoin and payment network with EU regulation.”

Paxos, based in the United States, is a regulated blockchain company that provides crypto brokerage and stablecoin management services. The company has assisted major firms such as Binance and PayPal in launching their own branded stablecoins.

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