Why the Combination of MiCA and PSD2 Licences Is More Valuable Than Either One Alone

[AIcash]

Paybis holding both a MiCA crypto-asset service provider licence and a PSD2 payment institution licence simultaneously is not a bureaucratic coincidence — it is a deliberate regulatory architecture that unlocks a category of business that neither licence enables independently. MiCA authorizes crypto-asset services: custody, exchange, transfers, and advisory across digital assets including stablecoins. PSD2 authorizes regulated payment services: executing payments and making transfers to payment accounts within the EU's traditional financial infrastructure. The gap between those two frameworks is exactly where most crypto-to-fiat and fiat-to-crypto flows have historically existed in a compliance grey zone, relying on banking partnerships that could be withdrawn without notice. Holding both licences means Paybis can connect crypto asset services with regulated payment rails under a single regulatory umbrella — what Vasilenko described as the specific importance of the dual authorization for the B2B infrastructure business the company is building.

The broader EU regulatory context adds significance to the timing. A European Commission adviser said in April that a "MiCA 2" evolution is likely as the Commission plans a public consultation on whether current rules are working for market participants. Circle has pushed back on euro stablecoin thresholds, and debate continues over whether supervision of major crypto firms should be centralized under ESMA. That evolving landscape makes early MiCA licensing strategically valuable beyond mere compliance — companies that establish their regulatory footprint under MiCA's first iteration are better positioned to engage with the consultation process and shape MiCA 2 in ways that favor their business models. For Paybis, being among the first three MiCA CASP licensees in Latvia gives it a credible seat at that table while competitors in less regulated jurisdictions are still working to meet the baseline requirements the framework demands.

[chainsniff]

Banking partnerships withdrawn without notice, the old vulnerability solved

[chainsniff]

Single umbrella for crypto and payments, most useful combination possible