Zerohash becomes Europe's first to hold both MiCAR authorization and an EMI license for stablecoin and brokerage services

Zerohash Europe, a crypto infrastructure provider, has secured an electronic money institution (EMI) license from the Dutch Central Bank (DNB), according to CoinDesk. The firm said Monday it is the first company in Europe to be authorized under the EU's Markets in Crypto-Assets Regulation (MiCAR) while also holding full EMI status. Zerohash received its MiCAR license from the Dutch Authority for the Financial Markets (AFM) in October 2025. MiCAR, set to fully take effect in July, establishes EU-wide rules for major crypto activities including token custody, issuance and trading. While MiCAR registration functions as an operating permit for crypto-asset service providers (CASPs) on trading platforms, the European Banking Authority has argued that "certain electronic money tokens"—stablecoins—are treated as "electronic money" under existing directives and may require additional oversight. The authority issued a letter of non-action in June 2025 and, in February, clarified that companies facilitating "stablecoin-driven financial flows" should obtain EMI licensing to better integrate stablecoins into the traditional financial system. With both MiCAR and EMI approvals, Zerohash can now provide crypto-asset services and traditional electronic money transactions across the European Economic Area. The company said the framework enables it to partner directly with banks, broker-dealers, fintech companies, payment service providers and enterprise platforms operating in Europe. Roland Goldberg, General Manager of Zerohash Europe, said Europe represents a large market for stablecoin use cases and that the firm has seen strong regional growth. He added that Zerohash has expanded its EU operations in Amsterdam in recent months and is providing technical support to partners including Interactive Brokers Europe. Zerohash has also applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter. Founded in 2017, the company has about 200 employees worldwide and offices in New York, Chicago, North Carolina and Amsterdam. In September last year, it raised $104 million in a Series D round led by Interactive Brokers, valuing it at $1 billion. After earlier acquisition talks—Zerohash was previously reported to be a Mastercard acquisition target—fell apart, the company is said to be in discussions to raise an additional $250 million at a $1.5 billion valuation.