Plasma Expands European Footprint with Italian VASP Acquisition and Dutch Regulatory Push

Plasma, the stablecoin-focused blockchain, has acquired a VIRTUAL Asset Service Provider (VASP)-licensed entity in Italy and established a Netherlands office as part of its aggressive European expansion strategy. The move comes alongside preparations for comprehensive regulatory authorization under the EU's Markets in Crypto-Assets (MiCA) framework.

The company, which raised $373 million in an oversubscribed token sale in July, is pursuing both Crypto-Asset Service Provider status and an Electronic Money Institution (EMI) license. The latter WOULD enable direct fiat integration into its stablecoin infrastructure—a critical step for mainstream adoption.

"Our aim is to set a high standard for blockchain-native stablecoin infrastructure by securing the right licenses and owning the regulated stack end to end," said Jacob Wittman, Plasma's general counsel. The Netherlands was selected for its status as a payments hub, home to major PSPs and merchant acquirers.

Plasma has bolstered its compliance team with seasoned hires, including a Chief Compliance Officer and Money Laundering Reporting Officer. This regulatory groundwork positions the firm to compete with traditional payment providers through card programs, wallet accounts, and scaled fiat connectivity.