Gate Technology obtains MFSA PSD2 license, expanding EU payment and stablecoin services.
Gate Technology Ltd, the Malta-based cryptocurrency exchange entity, has obtained a payment institution license under the European Union’s Second Payment Services Directive (PSD2) from the Malta Financial Services Authority (MFSA), the company announced.
The license places Gate among crypto-native companies in Europe to achieve this level of regulatory approval, according to the announcement.
Giovanni Cunti, CEO of Gate Technology Ltd, said the license allows Gate to build an infrastructure between traditional finance and Web3, providing compliant payment solutions to customers across Europe. Cunti noted that the license establishes a foundation for future financial services and provides regulatory certainty for institutional and retail clients in the European market.
This development follows Gate’s previous regulatory achievements in Malta, where the company previously obtained a Markets in Crypto-Assets (MiCA) license to provide exchange and custody services, according to the announcement.
Gate’s compliance strategy covers multiple jurisdictions, including Malta, Cyprus, the Bahamas, Japan, Australia and Dubai, the company reported.
The PSD2 license allows Gate to expand its payment services across the European Union through passporting rights, according to the announcement. The license allows Gate to integrate traditional financial mechanisms with Web3 applications.
Gate was founded in 2013. The company’s flagship platform, Gate.com, serves more than 49 million users worldwide and ranks among the top three crypto exchanges in the world by market share, according to company data.
The announcement included a disclaimer that the content does not constitute an offer, solicitation or recommendation, and that Gate may restrict or prohibit services to users in restricted regions.