There are three main licenses in Europe covering different regulated activities:
- MiCA (crypto-asset services)
- MiFID II (investment services)
- PSD2 (payments)
Today, only a select few companies in the digital asset industry have attained any of these. Even fewer have all three.
It's been a long grind, but Iβm proud to say Backpack is one of them.
Doing this in one country is really hard. It takes a whole team, years of work, and an enormous amount of patience to get it done. Doing it in every country around the world is another thing altogether.
There's no short cut. Just years and years of relentless execution. Things that are invisible in the short term, but for which in the long term they add up.
Every day we get a little bit closer to building a truly global, crypto-native financial institution for the future of money.
Today, we're a little bit closer.
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Backpack EU has secured its MiCA license and Payment Institution license from the Bank of Latvia.
Combined with our MiFID II license, Backpack EU is now tri-licensed across crypto, brokerage, and payments.
This milestone strengthens our ability to serve users across all 27 EU member states while upholding the trust, transparency, and regulatory standards required to connect onchain and traditional financial markets.
