Paysafe’s Skrill and Neteller have secured a MiCA CASP licence from the Central Bank of Ireland, enabling them to provide regulated crypto services across the European Economic Area (EEA).
This authorisation allows Paysafe to extend its crypto services throughout the EEA, covering 30 markets with a single approval. Germany stands out as particularly important due to the absence of previous crypto service offerings in the country’s digital wallets and because it is also Paysafe’s largest European digital wallet market.
Expanding Regulated Crypto Services under MiCA
MiCA, a regulation that introduced uniform standards for consumer protection, governance, operational resilience, and the safeguarding of client assets across the EU, represents a significant shift in the European crypto sector. It mandates consistent requirements for firms operating across member states, effectively replacing the previous fragmented national licensing regimes.
Skrill and Neteller already hold e-money licences in Europe. The addition of MiCA authorisation places Paysafe among a select group of providers that are regulated for both fiat and crypto services simultaneously, allowing them to offer multi-asset wallet solutions under a single compliance framework.
Germany’s approach to financial services has historically been heavily compliance-driven. The MiCA framework aligns well with the expectations of German consumers regarding regulatory oversight, transparency, and asset security. Paysafe’s entry into this market with full regulatory authorisation signifies its readiness under the new regime.
According to Bob Legters, Chief Product Officer at Paysafe, the MiCA licence enables Skrill and Neteller users in Germany to buy and sell crypto in a fully regulated manner. This milestone underscores the company’s commitment to promoting the responsible use of digital assets across Europe.
This development is part of a wider trend where established payments and e-money institutions are extending their regulatory coverage to include digital assets, rather than operating them through separate or less-regulated structures. Paysafe’s strategy (anchoring crypto services within its existing licensed wallet infrastructure) positions Skrill and Neteller as regulated, multi-asset platforms in the evolving European payments landscape.
