Paxos To Acquire Finnish Stablecoin Issuer Ahead of EU Rules

Stablecoin issuer Paxos Trust Co LLC has signed a deal to acquire a Finnish company with the required license to offer tokens in the European Union once new the bloc’s new crypto rules kick in at the end of this year.

Paxos, which issues PayPal Holdings Inc’s PYUSD stablecoin among others, said it had reached an agreement to buy Membrane Finance Oy., an electronic-money institution in Finland. Membrane didn’t immediately respond to a request for comment. The acquisition is subject to regulatory approval.

Once completed, the move will allow Paxos’ tokens to remain accessible in the European Union ...