Paxos acquires Finnish electronic money institution Membrane Finance to enter the EU stablecoin market

ChainCatcher news, according to official sources, the blockchain and tokenization infrastructure platform Paxos has announced that it has agreed to acquire the Finnish licensed electronic money institution Membrane Finance. The transaction is subject to regulatory approval, and upon completion, Paxos will obtain an electronic money institution (EMI) license in Finland and the European Union.

Paxos' strategic officer Walter Hessert stated that this acquisition will help Paxos launch asset and tokenization solutions compliant with the MiCA (Markets in Crypto-Assets) regulations in the EU market. Currently, Paxos has issued several regulated digital assets, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG).