Zerohash has obtained an Electronic Money Institution license from the Dutch central bank, becoming the first crypto firm under MiCA to hold dual authorization for stablecoin payment services in the European Economic Area.
The milestone allows Zerohash to operate legally across 30 countries while meeting both MiCA and PSD2 regulatory requirements.
This achievement positions the firm as a frontrunner in Europe’s emerging stablecoin payment market.
Dual licensing enables full regulatory compliance
The dual licenses are crucial because most stablecoins fall under both the Markets in Crypto-Assets framework and the Payment Services Directive.
MiCA regulates crypto assets broadly, while PSD2 governs electronic money and payment services.
Holding only one license would restrict operations, leaving firms unable to offer custody or transfer services for stablecoins without risking regulatory action after the March 2026 compliance deadline.
The European Banking Authority emphasized this requirement in a June 2025 no-action letter, clarifying that stablecoin transfers count as payment services.
Regulators across European nations were instructed to enforce the PSD2 authorization for crypto-asset service providers.
Zerohash met this regulatory hurdle ahead of schedule, completing the dual authorization necessary for full EEA operations.
Zerohash expands institutional services
With both licenses active, Zerohash can provide stablecoin payments to institutional clients throughout Europe while maintaining full regulatory compliance.
Managing Director Roeland Goldberg highlighted Europe’s growing market for stablecoin applications and noted the firm’s expanded Amsterdam office.
The company is actively supporting more partners and scaling operations across the continent.
Founded in 2017, Zerohash employs around 200 staff across New York, Chicago, North Carolina, and Amsterdam.
The firm completed a $104 million Series D-2 funding round last September, led by Interactive Brokers, valuing the company at $1 billion.
Plans are underway to raise an additional $250 million at a $1.5 billion valuation after discussions with Mastercard over a potential purchase agreement ended.
Impact on the European crypto sector
Zerohash’s dual authorization establishes a precedent for the wider European crypto community, demonstrating the feasibility of securing both licenses to operate legally.
The milestone provides a roadmap for smaller crypto-asset service providers seeking compliance in the EEA.
Meanwhile, the company has filed for a U.S. national trust bank charter, signaling ongoing regulatory ambitions internationally.
