Stablecoin issuer Paxos has agreed to acquire electronic money institution Membrane Finance which is licensed in Finland.issuer Paxos agreed to buy Membrane Finance, an electronic money institution based in Finland, to gain access to the European Union some five months after the bloc's rules on stablecoins took effect.
Crypto companies have been taking steps to ensure they are compliant with the Markets in Crypto Asset regulations. The rules covering stablecoin issuers kicked in at the"Upon completion of the acquisition, Paxos will be a fully licensed EMI in Finland and the EU," the company said Tuesday."Paxos intends to make its portfolio of assets and tokenization solutions compliant with Markets in Crypto Asset regulations.".
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