Financial infrastructure provider OpenPayd said on Wednesday that it has obtained authorization under the European Union’s Cryptocurrency Markets Regulation (MiCA), allowing it to provide crypto services across the European Economic Area (EEA) via Passport.

The license allows OpenPayd to act as a crypto asset service provider (CASP) and offer services such as fiat-to-stablecoin on- and off-switch, the company said in a statement reported by Cointelegraph.

“Stablecoins are quickly becoming part of the mainstream financial infrastructure,” said OpenPayd CEO Iana Dimitrova, adding that MiCA gives companies greater confidence that they can apply digital asset technology for payments, treasury operations and growth.

The approval comes days before MiCA’s July 1 transition deadline, as crypto firms race to secure authorization under the bloc’s crypto regulations. Only on Bitcoin Suisse Tuesday secured MiCA license in Liechtenstein, and Ripple announced preliminary CASP approval in Luxembourg.

OpenPayd did not disclose which regulatory body authorized MiCA or in which jurisdiction it was issued. Cointelegraph reached out to OpenPayd for comment but had not received a response by the time of publication.

OpenPayd counts Kraken and OKX among its customers

MiCA OpenPayd’s authorization comes about a year after the company launched its stablecoin infrastructure, which allows companies to manage fiat currencies and digital assets through a single platform.

The company said it processes more than $240 billion in trades on an annual basis for more than 1,100 companies worldwide, including Kraken, eToro, OKX and B2C2.

Source: OpenPayd

OpenPayd was founded in London in 2018 by Ozan Ozerek, a fintech entrepreneur who also founded European Merchant Bank, a digital bank based in Lithuania.

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OpenPayd plans to debut on the Nasdaq stock exchange

The news of the MiCA OpenPayd license comes as the company seeks to go public in the US.

At the beginning of June OpenPayd announced a proposed merger with special purpose vehicle Titan Acquisition Corp, in which the company’s shares will be listed on the Nasdaq Stock Exchange under the ticker symbol “OP”, if approved.

Transaction values OpenPayd will be valued at approximately $1.1 billion and is expected to close in the fourth quarter of 2026, subject to shareholder and regulatory approvals.

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