ZBD Earns First MiCAR License Approval in the European Union
ZBD has become the first payment company to receive approval for the European Union’s crypto license under MiCAR (Markets in Crypto-Assets Regulation), granted by the Dutch Authority for the Financial Markets (AFM). This positions ZBD as a leader in regulatory compliance for cryptocurrencies in Europe.
MiCAR will take effect on December 30, 2024, establishing strict oversight for businesses dealing with digital assets. All crypto-focused companies operating within the EU must obtain a license once the framework is active.
With the MiCAR license, ZBD can expand its services, including storing digital assets, managing transactions, and facilitating exchanges between cryptocurrencies and traditional currencies.
Strategic Path to MiCAR Compliance
ZBD successfully navigated MiCAR's stringent standards through full compliance with necessary regulations, enhancing its reputation as an innovative leader in the crypto space. This achievement enables ZBD to provide secure, regulated services across the EU market, building on its established presence in the US.
Marca Wosoba, COO of ZBD, emphasized the significance of the MiCAR license approval, stating that compliance has been integral to their operations, unlocking new opportunities rather than limiting them.
“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.
ZBD adopted a strategic approach to prepare for the regulation, submitting its MiCAR registration application promptly and fostering a cooperative partnership with the AFM, which contributed to this milestone.
This achievement aligns with ZBD's objective of developing a digital native payment system for the gaming and entertainment industries. Wosoba noted that ZBD aims to create a payments system capable of rapidly transferring money in any currency, leveraging Bitcoin on the Lightning Network as a core technology component.