Payment company ZBD has achieved a significant milestone by becoming the first to receive MiCAR approval from the Dutch AFM, positioning itself as a pioneer in regulated crypto services across the European Union.
ZBD, a well-known payment company, has achieved something big by being the first to get approved for the European Union’s new crypto license under MiCAR (Markets in Crypto-Assets Regulation). The Dutch Authority for the Financial Markets (AFM) gave this approval, making ZBD a leader in following crypto rules in Europe.
MiCAR, which introduces strict oversight for businesses dealing with digital assets, will officially come into effect on December 30, 2024. Once active, this framework will require all crypto-focused companies operating within the EU to be licensed.
With the MiCAR license obtained, ZBD will be able to broaden its range of services, which include storing digital assets, managing transactions, and facilitating exchanges between cryptocurrencies and traditional currencies.
Strategic Path to MiCAR Compliance
Many companies have struggled to meet MiCAR’s rigorous standards. However, ZBD has succeeded by maintaining full and thorough compliance with all necessary regulations. This has allowed the company to stand out as a leader in innovation within the crypto space, giving it an advantage in providing secure and regulated services to customers throughout the EU.
Moreover, beyond overcoming the regulatory hurdle, MiCAR offers new opportunities for ZBD as it further expands into the EU market after making a strong name for itself in the US.
The Chief Operating Officer of ZBD, Marca Wosoba, described the company’s MiCAR license approval as a significant step in its journey. She stated that the company’s commitment to compliance has been a cornerstone of its operations, not as a limitation but as a way to unlock new possibilities.
“Being the first to have received MiCAR license approval is a major leap forward for us,” says Marca Wosoba, COO of ZBD. “We’ve built a culture where compliance is at the forefront of what we do, and we see it as an enabler for new functionality, not a blocker. MiCAR gave us an opportunity to obtain licensing across all of the EU and facilitate our expansion in the region.” she stated.
It was revealed that ZBD took a very strategic approach to prepare for the new regulation, ensuring it submitted the MiCAR registration application as quickly as possible. Also, the company’s close and cooperative partnership with the AFM played a key role in reaching this achievement.
Furthermore, the milestone reached by ZBD aligns with its goal of developing a digital native payment system for both the gaming and entertainment industries. Wosoba stated that the company’s strong and stable business allows it to grow and work toward its goal of creating a payments system that can quickly transfer money in any currency. She noted that ZBD isn’t just a crypto company, but a digital payments business that uses Bitcoin on the Lightning Network as a key tool in its core technology infrastructure.
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