dtcpay, a Singapore-based company, has received approval from Luxembourg’s Commission de Surveillance du Secteur Financier to apply for an EMI (Electronic Money Institution) licence. This approval comes with a Green Light Letter and positions the firm to offer regulated payment services within the European Economic Area (EEA).

Once granted the licence, dtcpay will be authorized to issue electronic money, conduct payment transactions, and manage cross-border transfers across the 30-member EEA. The firm plans to establish Luxembourg as its base of operations in Europe and expand its current suite of services, including stablecoin-based payments and digital asset infrastructure.

The expansion aligns with EU regulatory trends

Dtcpay officials noted that securing the EMI licence is crucial for supporting real-time settlement services across Web2 and Web3 platforms. The company also considers future applications, such as a potential Crypto-Asset Service Provider (CASP) licence under the Markets in Crypto-Assets (MiCA) framework.

The decision to expand into Europe coincides with Luxembourg and Singapore celebrating 50 years of diplomatic relations in 2025. Dtcpay is recognized as the first Singaporean-licenced Major Payment Institution to establish operations in Luxembourg, citing regulatory compatibility and the jurisdiction’s established financial infrastructure as key factors.

The planned European hub will serve as a strategic link between the two financial centres, enabling the rollout of digital payment solutions for businesses and consumers throughout the region. With approximately 450 million people across the EEA, dtcpay sees this as an opportunity to scale its stablecoin infrastructure within an EU-compliant framework.

dtcpay has previously obtained regulatory clearances in Singapore and other jurisdictions. Its expansion into Europe will follow a similar model, focusing on compliance, infrastructure development, and integration of both fiat and digital asset-based payment technologies.