Nuvei Fintech Secures Crypto License under European Union’s Markets

Nuvei obtains crypto-asset service provider license from European Union’s Markets to make secure and advanced payment services globally.

Nuvei, is a financial technology company headquartered in Montreal, Canada. Founded in 2003, it provides simplified yet advanced payment solutions; Nuvei aims to provide seamless, secure and reliable payment services empowering businesses. The company has designed an innovative approach in simplifying global commerce by offering a widespread suite of fintech solutions that are made to meet the unique needs of global enterprises.

Nuvei has received the crypto-asset service provider (CASP) license, which allows it to deliver regulated crypto-asset services under the European Union’s Markets in Crypto-Assets Regulation (MiCAR). The Markets in Crypto-Assets Regulation (MiCAR) is a new European regulation that introduces uniform rules for crypto-assets, across Europe.

With the CASP license, Nuvei can offer regulated crypto-asset services including cryptocurrency storage and administration, transfers, and the exchange of crypto-assets into funds, united into its broader global payments infrastructure.

Following the MiCAR authorization, Nuvei has also gained a Payment Institution license, which enables services related to electronic money tokens (EMTs). With both the authorizations settlement flows through a unified, regulated platform allowing Nuvei to make crypto-asset, EMT, and fiat-based payment. Nuvei can now support both business clients and retail consumers under these licenses.

These services have been added into Nuvei's global payments infrastructure, assisting merchants and platforms looking to implement crypto-enabled payment and settlement capabilities in different European regions. Retail users will have access to basic crypto services, while commercial clients will benefit from rapid settlements, crypto acceptance, and transparent blockchain-based fund movement, all of which are completely linked into larger payment, payout, and treasury processes.

The company has recently integrated Visa Direct for Account into its global payments infrastructure, allowing companies to send monies directly to the bank accounts of customers and workers in qualifying countries.

Nuvei chair and CEO Phil Fayer stated this authorization marks an important milestone in the convergence of payments and digital assets. MiCAR brings long-needed regulatory clarity to Europe. As long as they follow this strategy, they can help customers move money between crypto and standard payment methods with trust, consistency, and scale.