Plasma Acquires Italian VASP to Launch Regulated Payments in Europe
Plasma expands into EU regulated markets with Italian VASP acquisition, Amsterdam hub, and plans for MiCA, CASP, and EMI licenses to build a stablecoin-native payments network.
Stablecoin-focused payment chain Plasma has acquired GBTC Italia, a VASP-licensed entity in Italy, renaming it Plasma Italia SrL as part of its European expansion. The firm is opening an Amsterdam office under Plasma Nederland BV and appointing compliance leadership to strengthen regulatory capabilities. Plasma is applying for Crypto Asset Service Provider (CASP) status under MiCA and an Electronic Money Institution (EMI) license, enabling it to operate a stablecoin-based payments network, issue cards, and hold customer funds under EU safeguards. Since launch last month, Plasma attracted $7 billion in stablecoin deposits, ranking fifth by stablecoin supply. The licenses will support the operation of Plasma One, a neobank offering faster settlements, lower fees, and segregated funds under EU law.
- VASP: Virtual Asset Service Provider, an entity authorized to offer services related to digital assets, such as exchanges or wallet providers.
- MiCA License: Licensing under the EU’s Markets in Crypto-Assets regulatory framework, authorizing entities to provide regulated crypto asset services.
- EMI License: Electronic Money Institution license, allowing issuance of electronic money and provision of payment services within regulated frameworks.