- Plasma expands into Europe, acquires Italian VASP license.
- Establishes compliance office in Amsterdam.
- Positions itself for EU regulatory advancements.
Plasma has expanded into Europe by acquiring VASP-licensed GBTC Italia, now Plasma Italia SrL, and opening a compliance-focused office in Amsterdam, enhancing its stablecoin payment capabilities.
This expansion allows Plasma to provide regulated fiat-crypto services across the EU, potentially increasing institutional interest and stablecoin market liquidity.
Plasma has expanded into Europe by acquiring the VASP-licensed entity GBTC Italia, now called Plasma Italia SrL, and has opened a compliance-focused office in Amsterdam as Plasma Nederland BV. This allows them to operate legally across the EU.
Key figures in this expansion include Adam Jacobs and Jacob Wittman, who emphasize building a regulated payments stack. Their efforts include securing necessary licenses and expanding their team in the payments-focused Netherlands. Adam Jacobs has stated, “The Netherlands is a premier payments region. Expanding our team and regulatory presence here positions us to own more of the payments stack, from stablecoin settlement to licensed financial infrastructure.”
The acquisition grants regulatory access to the European market, including fiat-crypto payments and custody services. With $7 billion in stablecoin deposits, Plasma’s entry signifies a boost in institutional involvement and sets the stage for further global undertakings. Plasma aims to secure CASP under MiCA and pursue an EMI license, allowing comprehensive financial services.
The move supports Plasma’s strategy for securing CASP under MiCA and pursuing an EMI license, allowing comprehensive financial services. The changes could potentially affect the valuation of stablecoins and governance tokens within their ecosystem.
The acquisition is expected to impact cross-chain liquidity and the stability of Plasma’s network assets. Although specific on-chain data wasn’t detailed, the $7 billion in deposits signifies significant involvement in the market. Past instances from companies like Coinbase and Kraken show improved market access and increased liquidity in similar scenarios. Plasma’s regulatory effort aligns with the industry’s pursuit of deeper European market integration amid rising stablecoin adoption.
