Membrane Finance is the issuer of US dollar and euro stablecoins and has a passportable Finnish license.
Blockchain infrastructure platform Paxos has agreed to buy Membrane Finance, the Finnish Electronic Money Institution. Upon regulatory approval, the acquisition will give Paxos entry into the European Union.
The acquisition of Membrane Finance will make Paxos a fully licensed EMI in Finland and the EU thanks to Membrane Finance’s Finnish Financial Supervisory Authority license. That license is recognized in 30 European countries. Paxos head of strategy Walter Hessert said in a statement:
Membrane Finance is the issuer of the EUROe and eUSD stablecoins. It launched the EUROe in February 2023, which did not see a large immediate demand. Stasis, Circle, Tether and Celo are also issuers of euro-pegged stablecoins.
