UK-based fintech company Merge has been granted Electronic Money Institution (EMI) and Virtual Asset Service Provider (VASP) approvals from France’s ACPR and AMF to enhance its stablecoin payment solutions in the country. This dual licensing marks Merge as a provider that operates across both traditional and blockchain-based payment systems.

Merge’s Dual Licensing

With these licenses, Merge is poised to offer seamless payments in local and digital currencies. The firm can combine regulated fiat transactions with stablecoin-based transfers, providing businesses with flexible options for handling funds.

This expansion builds on Merge’s existing platform, which already supports clients globally via a single API. Through this interface, Merge offers multi-currency accounts, real-time payments, SWIFT connectivity, named sub-accounts, and foreign exchange capabilities—enabling efficient global treasury operations and automated payment workflows.

UK’s Growing Cryptocurrency Economy

According to Chainalysis research, Central, Northern, and Western Europe (CNWE) is the second-largest cryptocurrency economy globally after North America. Between July 2023 and June 2024, CNWE saw a significant flow of USD 987.25 billion in on-chain value, with the UK being its largest component, garnering USD 217 billion. Stablecoins emerged as the most frequently used asset within these transactions.

As a result, an increasing number of fintech firms are pursuing regulatory compliance to integrate stablecoins into existing frameworks.