Plasma, a blockchain platform specializing in stablecoin payments, has accelerated its European expansion by acquiring a VASP-licensed entity in Italy and establishing an office in Amsterdam. The company is actively pursuing comprehensive regulatory authorization under the EU's Markets in Crypto-Assets (MiCA) framework, including applications for Crypto-Asset Service Provider (CASP) and Electronic Money Institution (EMI) licenses.
This strategic move aims to enable Plasma to provide custody, exchange, and payment services within a harmonized regulatory environment, reducing third-party risks and lowering operational costs. The Netherlands office serves as a key hub for integrating fiat on/off ramps and tapping into Europe's robust payment ecosystem, home to major providers like merchant acquirers.
To support its regulatory goals, Plasma has hired experienced compliance personnel, including a Chief Compliance Officer and a Money Laundering Reporting Officer. Jacob Wittman, Plasma's general counsel, emphasized the company's commitment, stating, "We aim to set a high standard for blockchain-native stablecoin infrastructure by securing the right licenses and owning the regulated stack end to end."
Plasma's stablecoin neobank, Plasma One, offers digital dollars with features such as savings yields, card spending capabilities, instant transfers, and cross-border settlement. The platform raised $373 million in an oversubscribed token sale in July 2025, attracting over 3,000 investors and achieving more than seven times oversubscription. Its mainnet beta launched with $1 billion in stablecoin total value locked, operating as a Bitcoin sidechain with EVM compatibility and zero-fee transfers for Tether's USDT stablecoin.
Earlier funding rounds included $24 million from Seed and Series A investments led by Framework and Bitfinex/Tether, with participation from DRW/Cumberland, Bybit, Flow Traders, IMC, and Nomura. As Plasma expands its licensing stack, it plans to enable partners to leverage the regulated infrastructure for merchant acceptance, programmable payouts, and treasury tools, targeting the growing global stablecoin supply exceeding $300 billion.
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