Plasma acquires Italian VASP license to expand stablecoin payments business in EU

According to Foresight News, Plasma announced that it has acquired an Italian entity that holds a Virtual Asset Service Provider (VASP) license, allowing it to legally process cryptocurrency transactions and custody assets in the region. As part of its EU expansion plans, the company will open a new office in Amsterdam, the Netherlands, and has appointed a chief compliance officer and a money laundering reporting officer. Plasma did not name the acquired entity and a spokesman did not immediately respond to a request for comment.

Plasma also plans to apply for cryptoasset service provider (CASP) qualifications under the EU’s new MiCA regulations and apply for an electronic money institution (EMI) license. These moves will allow Plasma to exchange assets, issue cards and hold customer funds under regulatory safeguards.

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