TechFlow news, November 19 — According to an official announcement, Paxos, a blockchain and tokenization infrastructure platform, has agreed to acquire Membrane Finance, a licensed electronic money institution based in Finland. The transaction is subject to regulatory approval. Upon completion, Paxos will obtain an Electronic Money Institution (EMI) license in Finland and across the European Union.
Walter Hessert, Head of Strategy at Paxos, said the acquisition will enable Paxos to launch assets and tokenization solutions compliant with MiCA (Markets in Crypto-Assets) regulations in the EU market. Paxos currently issues several regulated digital assets, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG).
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