Zerohash Europe has become one of the latest firms to secure authorization under the European Union’s landmark Markets in Crypto-Assets Regulation (MiCA) framework, winning approval from the Dutch Authority for the Financial Markets (AFM).
The license allows Zerohash to provide regulated crypto-asset and stablecoin infrastructure services across the entire European Economic Area (EEA), a milestone that positions the company among the first fully compliant service providers under Europe’s unified rulebook for digital assets.
Is Zerohash Building the Rails for Europe’s Stablecoin Future?
The approval gives Zerohash explicit permission to offer embedded crypto and stablecoin services to institutional clients through its B2B2C model.
The Chicago-based firm was founded in 2017 and already serves major partners including Interactive Brokers, Morgan Stanley, Franklin Templeton, Securitize, Stripe, Worldpay, and Public.com.
With the license in hand, Zerohash plans to help banks, fintechs, and payment companies integrate stablecoin transactions and digital-asset services directly into their existing platforms.
The AFM’s authorization process is among the most stringent in the bloc. Crypto-asset service providers must submit detailed business plans, undergo governance and fit-and-proper assessments, and comply with anti-money-laundering rules under the Dutch Money Laundering and Anti-Terrorist Financing Act.
Source: AFMFirms must also demonstrate operational resilience, maintain robust surveillance systems to prevent market abuse, and hold minimum capital reserves ranging from €50,000 to €150,000, depending on their services.
Zerohash’s European license builds on its global licensing footprint in the United States, Bermuda, Canada, Australia, and Latin America.
Earlier this year, the company completed a $104 million Series D-2 funding round backed by Interactive Brokers, Morgan Stanley, and others.
Meanwhile, Mastercard is reportedly in late-stage talks to acquire Zerohash for between $1.5 billion and $2 billion, a deal that could mark one of the payment giant’s largest bets on stablecoins and on-chain settlement.
Over 50 Firms Now Licensed Under MiCA as A Stablecoin Company Joins Growing List of firms
Zerohash joins a growing list of firms licensed under MiCA, the EU’s first comprehensive crypto regulation.
As of July, around 53 entities have been approved across the 30-country bloc, including Coinbase, Kraken, Crypto.com, Robinhood, Societe Generale, and Circle.
The framework, which became applicable to stablecoin issuers in mid-2024 and will extend to all crypto service providers by the end of 2024, aims to harmonize rules across the EU, protect consumers, and strengthen financial stability.
Germany, the Netherlands, and Malta currently lead in licensing activity. Coinbase received approval in Luxembourg earlier this year, while BitGo and Bybit obtained licenses in Germany and Austria, respectively.
The uniform authorization allows these firms to operate across all member states without filing separate applications in each jurisdiction.
MiCA’s introduction has also reignited debate over Europe’s broader digital payments agenda.
The European Central Bank (ECB) has backed strict limitations on multi-issuance stablecoins, tokens jointly managed inside and outside the bloc, warning they could strain local reserves during redemption runs.
ECB President Christine Lagarde has called for tighter rules on non-EU stablecoin issuers to close regulatory gaps, citing risks to financial sovereignty as dollar-backed tokens dominate 99% of the $230 billion global stablecoin market.
At the same time, Europe’s push for a digital euro is gaining momentum. ECB Executive Board member Piero Cipollone said in September that the project could launch by 2029, following recent agreements among euro-area finance ministers on holding limits and design principles.
Lawmakers are now finalizing the legal framework, with a parliamentary position expected by May 2026.
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