Paxos acquires Finnish cryptocurrency firm Membrane Finance

Stablecoin issuer Paxos has agreed to acquire Membrane Finance, a regulated cryptocurrency specialist with a full license in Finland. Finland is a member of the European Union (EU), and the EU introduced its Markets in Crypto Assets (MiCA) regulation in June, which imposes strict rules on stablecoin issuers. According to CoinDesk, Paxos asserted that upon completion of the acquisition, the company will become a fully licensed cryptocurrency institution in Finland and the EU. It added that going forward, Paxos’ entire portfolio of assets and tokenization solutions will be MiCA-compliant.