Stablecoin issuer Paxos has agreed to acquire Membrane Finance, an electronic money institution in Finland, to enhance its access to the European Union market. This move comes shortly after new EU regulations for stablecoin issuers were enforced in June.

Finland is an EU member state, and the acquisition will allow Paxos to operate as a fully licensed Electronic Money Institution (EMI) across the EU. According to Paxos, upon completion, the company will ensure that its asset portfolio meets the requirements of the Markets in Crypto Asset (MiCA) regulations.

Key Points:

• Paxos aims to comply with the updated EU regulations concerning stablecoins.
• Acquisition details have yet to be disclosed, pending regulatory approval.

Paxos is actively adapting to the evolving regulatory landscape for cryptocurrency, following similar moves by other crypto firms aiming to meet stricter guidelines.