Zerohash, an innovative player in crypto infrastructure, has obtained a license under the European Union's Markets in Crypto-Assets Regulation (MiCA). This makes them one of the first infrastructure providers authorized to offer stablecoin services in all EU member states. The approval, announced on Sunday, comes from the Dutch Authority for the Financial Markets (AFM) and allows Zerohash to offer stablecoin and crypto products to banks, fintech companies, and payment platforms in the thirty member states of the European Economic Area (EEA). The AFM's official registration confirms Zerohash's status as a registered crypto-asset service provider (CASP).
Zerohash's new position in Europe underscores the company's potential as a crucial infrastructure partner for organizations exploring tokenized assets, stablecoins, and other blockchain-based financial products. This development not only expands Zerohash's operational capabilities but also provides investors and policymakers with insight into the growing adoption of digital assets in Europe.
Founded in 2017, Zerohash has already established itself as a leading provider of crypto infrastructure solutions for renowned clients such as Morgan Stanley, Franklin Templeton, and Stripe. The recent MiCA license approval comes as payment processor Mastercard prepares for a potential acquisition of Zerohash, estimated at between $1,5 billion and $2 billion. According to anonymous sources told Fortune, Mastercard is in advanced discussions about this deal.
This development aligns with Mastercard's previous efforts to expand its presence in the stablecoin sector. In August, Mastercard announced that it would enable acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in Circle's USDC and Euro Coin. This marks a significant step for stablecoin adoption in this region, with companies like Arab Financial Services and Eazy Financial Services among the first to embrace the new services.
In a broader context, the Central Bank of Kazakhstan has recently partnered with Mastercard and Solana on a pilot project involving a stablecoin pegged to the local fiat currency. On September 23, the National Bank of Kazakhstan launched the stablecoin project within its Digital Assets Regulatory Sandbox. The Evo (KZTE) stablecoin, which is pegged to the tenge, is issued by the sandbox participant, Intebix. Crypto Exchange, in partnership with the local bank Eurasian Bank. Such initiatives highlight the increasingly important role of stablecoins in the global financial system and their growing acceptance by both governments and established financial institutions.
How does Zerohash's MiCA license impact the crypto market in Europe?
The MiCA license gives Zerohash a stronger foothold in the European crypto market, which promotes the adoption of stablecoins and related products by financial institutions. This could lead to a change in investor behavior, giving them greater confidence in regulated crypto infrastructures.
What does the potential acquisition by Mastercard mean for Zerohash?
An acquisition by Mastercard would allow Zerohash to accelerate its market expansion, with increased resources and a stronger network. This could stimulate innovation in stablecoins and other financial products.
How does this development position itself against global trends in the crypto sector?
The adoption of Zerohash and the increasing movement of major financial players toward stablecoins represent a shift in global financial focus. It signals the growing acceptance of digital assets, which are increasingly integrating into the traditional financial world.