Key facts
- OpenPayd has obtained authorization under the EU's Markets in Crypto-Assets Regulation (MiCA).
- The MiCA license permits OpenPayd to offer regulated crypto services across the European Economic Area (EEA).
- Services will include fiat-to-stablecoin on-ramping and off-ramping.
- OpenPayd serves over 1,100 businesses globally, including Kraken and OKX.
- The company is planning a US listing through a merger with Titan Acquisition Corp, valued at $1.1 billion.
Financial infrastructure provider OpenPayd announced on Wednesday that it has secured authorization under the European Union’s Markets in Crypto-Assets Regulation (MiCA). This approval allows the company to offer regulated crypto services across the European Economic Area (EEA) through passporting.
The license enables OpenPayd to operate as a crypto asset service provider (CASP), facilitating services such as fiat-to-stablecoin on-ramping and off-ramping. OpenPayd CEO Iana Dimitrova stated that stablecoins are increasingly becoming integral to mainstream financial infrastructure and that MiCA provides businesses with greater confidence in utilizing digital asset technology for payments and treasury operations.
This authorization comes shortly before a July 1 transitional deadline for MiCA, prompting a race among crypto firms to comply with the bloc's new rules. Other companies, including Bitcoin Suisse and Ripple, have also recently secured MiCA-related approvals.
OpenPayd, founded in London in 2018, launched its stablecoin infrastructure approximately a year ago, enabling businesses to manage fiat currencies and digital assets on a single platform. The company reports processing over $240 billion in annualized transaction volume for more than 1,100 businesses globally, with clients including Kraken, eToro, OKX, and B2C2.
In parallel with its regulatory advancements, OpenPayd is pursuing a public listing in the U.S. The company announced a proposed merger with special purpose acquisition company Titan Acquisition Corp in June, which would lead to its shares trading on Nasdaq under the ticker "OP." This transaction values OpenPayd at approximately $1.1 billion and is anticipated to conclude in the fourth quarter of 2026, pending shareholder and regulatory approvals.