Cryptocurrency infrastructure firm Zerohash has secured an Electronic Money Institution (EMI) license from De Nederlandsche Bank (DNB), making it the first company to hold both a Markets in Crypto-Assets (MiCAR) license and full EMI status in Europe. The approval, granted on May 18, 2026, positions Zerohash to offer a broader range of regulated services, including stablecoin payments, electronic money transfers, and crypto trading and custody, across the European Economic Area.
Zerohash originally received its MiCAR license from the Dutch Authority for the Financial Markets (AFM) in October 2025, allowing it to operate as a crypto-asset service provider throughout the EU. However, the European Banking Authority (EBA) has maintained that certain stablecoin-related activities fall under existing electronic money regulations, requiring additional authorization beyond MiCAR. The new EMI license, issued by the Dutch central bank after a rigorous approval process, addresses that gap, enabling Zerohash to process payment flows, support stablecoin use cases, and offer fiat-to-crypto on-ramps under full regulatory oversight.
This dual-license framework is particularly significant as European regulators tighten rules around stablecoins. With both MiCAR and EMI approvals, Zerohash can now serve banks, brokerages, payment providers, and enterprise platforms seeking compliant infrastructure to integrate crypto and stablecoin services. The company cited its existing support for Interactive Brokers Europe as an example of the model. The EMI license also enhances Zerohash’s credibility and competitive edge as stablecoin adoption grows in payments, trading, and institutional finance.
Founded in 2017, Zerohash employs around 200 people and operates from offices in New York, Chicago, North Carolina, and Amsterdam. The firm closed a $104 million Series D-2 round at a $1 billion valuation and has also applied for a national trust bank charter from the U.S. Office of the Comptroller of the Currency. Reports indicate it may pursue additional fundraising, potentially at a $1.5 billion valuation, as it expands its regulated global operations.
