This week, the Paxos' acquisition of Finnish Membrane was finalized. Juha Viitala, the founder and CEO of Membrane, is joining the Paxos team as Head of EU & Growth @ Paxos.
I am excited! Together, we’ll be driving the expansion of Paxos’ product suite into Europe while ensuring compliance with MiCA regulations, Viitala wrote in a Linkedin post.
Membrane Finance was the first company that launched an EU-based stablecoin called EUROe.
When the news about the acquisition came out last November, Viitala also shared some insight into the journey of the Finnish company “A little over three years ago, when we founded Membrane Finance, I was on a mission to find the most impactful and meaningful project in the crypto space. We strongly believed that the future of finance lies in tokenizing all asset classes. But first, we needed robust, reliable digital currencies - - starting with our home ground, the EU. Stablecoins are the killer app of crypto, and recent developments have made it clear they’re also poised to become the killer app of finance. Our goal has always been to build true internet money: cheap, fast, and programmable.”
After the acquisition, Paxos will now be a fully licensed Electronic Money Institution (EMI) across the EU, based and licensed in Finland.
Paxos is a leading regulated blockchain and tokenization infrastructure platform. Paxos issues trusted USD-backed stablecoins. These digital assets are available to retail and institutional users in various markets around the world. This acquisition will allow Paxos to expand its globally regulated platform to serve European customers in a safe and compliant way. Specifically, Paxos intends to make its portfolio of assets and tokenization solutions compliant with Markets in Crypto Asset (MiCA) regulations.
This week, the Paxos' acquisition of Finnish Membrane was finalized. Juha Viitala, the founder and CEO of Membrane, is joining the Paxos team as Head of EU & Growth @ Paxos.
I am excited! Together, we’ll be driving the expansion of Paxos’ product suite into Europe while ensuring compliance with MiCA regulations, Viitala wrote in a Linkedin post.
Membrane Finance was the first company that launched an EU-based stablecoin called EUROe.
When the news about the acquisition came out last November, Viitala also shared some insight into the journey of the Finnish company “A little over three years ago, when we founded Membrane Finance, I was on a mission to find the most impactful and meaningful project in the crypto space. We strongly believed that the future of finance lies in tokenizing all asset classes. But first, we needed robust, reliable digital currencies - - starting with our home ground, the EU. Stablecoins are the killer app of crypto, and recent developments have made it clear they’re also poised to become the killer app of finance. Our goal has always been to build true internet money: cheap, fast, and programmable.”
After the acquisition, Paxos will now be a fully licensed Electronic Money Institution (EMI) across the EU, based and licensed in Finland.
Paxos is a leading regulated blockchain and tokenization infrastructure platform. Paxos issues trusted USD-backed stablecoins. These digital assets are available to retail and institutional users in various markets around the world. This acquisition will allow Paxos to expand its globally regulated platform to serve European customers in a safe and compliant way. Specifically, Paxos intends to make its portfolio of assets and tokenization solutions compliant with Markets in Crypto Asset (MiCA) regulations.
