Singapore’s dtcpay Receives Green Light from CSSF for Luxembourg EMI License

dtcpay, a Singapore-based stablecoin payment solutions provider, has received the green light letter from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) for its Electronic Money Institution (EMI) license application. This approval milestone confirms Luxembourg as dtcpay’s European headquarters and strategic gateway to the continent, with Amanda Yeung appointed as Luxembourg country manager and European regional manager to lead the company's operations in the region.

Once final approval is granted, the EMI license will authorize dtcpay to offer a full range of regulated payment services throughout the European Economic Area (EEA). These services include electronic money issuance, payment processing, and cross-border fund transfers, positioning dtcpay to expand its innovative and compliant financial technology solutions across a 30-country market covering over 450 million people.

Founded in 2019, dtcpay already holds licenses across multiple jurisdictions including Australia, Canada, Hong Kong, Singapore, and the United States. Amanda Yeung has indicated that the company plans to explore further opportunities within the EU’s evolving digital finance landscape, including pursuing a Crypto-Asset Service Provider (CASP) license under the EU’s Markets in Crypto-Assets (MiCA) framework.

Luxembourg’s selection as dtcpay’s European hub reflects the country's reputation as a leading financial center with a forward-looking regulatory environment supportive of digital assets and fintech innovation. This aligns with recent developments where Luxembourg has also granted MiCA licenses to major players and attracted global institutions establishing crypto and digital asset operations.

dtcpay’s successful green light letter from the CSSF marks a pivotal step in its mission to build a seamless bridge between traditional finance and the digital economy, leveraging Luxembourg’s robust ecosystem to deliver secure, real-time payment solutions integrating stablecoin technology. With this strategic expansion, dtcpay aims to enhance financial inclusion and innovation across Europe, delivering state-of-the art digital payment infrastructure that serves both Web2 and Web3 markets. 

Source: fintechfutures.com/blockchain-crypto-digital-assets/dtcpay-receives-green-light-letter-from-cssf-for-luxembourg-emi-licence

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