The Bank of Spain has authorised Criptan to operate payments with regulated stablecoins. The Valencian platform becomes the fourth firm in the country to obtain this licence.
The Spanish crypto ecosystem reaches a new milestone. The Bank of Spain has authorised Criptan, a Valencian cryptocurrency exchange platform, to operate payments with regulated stablecoins (stable currencies linked to currencies such as the euro or the dollar). The licence, framed within the PSD2 regulation, allows the company to integrate these assets into real payment operations: transfers, collections, and settlements in digital euros.
With this authorisation, Criptan joins Bit2Me, Crossmint, and Minos as the only platforms in Spain that hold this permission. According to data from finReg360, a regulatory advisory firm, five platforms applied for the licence, leaving one company still pending to obtain it.
What the licence means for users
In practice, the more than 100,000 customers of Criptan will be able to move money with the traceability and guarantees of a bank transfer, but with the immediacy and lower cost of crypto infrastructure. The company is already working on deploying the first use cases of payment under this licence in the coming months, both for individuals and for businesses looking to incorporate settlements with stablecoins into their operations.
"This is a huge milestone for Criptan. Since the end of the transitional period of MiCA, we have multiplied the number of deposits on the platform by 15, and this licence consolidates us as one of the most serious companies in the sector," explains Jorge Soriano, CEO and founder of Criptan. "Since 2018, we have bet on doing things within the framework, not outside of it: this authorisation is the logical consequence of that work," he adds.
The European regulatory context
The authorisation comes at a key moment for the sector. The MiCA regulation (Markets in Crypto-assets), which has fully come into force in the EU, establishes a harmonised framework for cryptocurrencies. Spain, through the Bank of Spain, is one of the countries that is adapting its regulations the fastest, attracting companies in the sector that seek a safe and predictable environment.
For investors and users, this means greater legal security and protection. Regulated stablecoins offer the stability of fiat currencies with the efficiency of blockchain technology. Criptan expects its customers to be able to use these currencies for everyday payments, international transfers, or business settlements, all under the supervision of the central bank.
"This licence allows us to offer a bridge between the crypto world and the traditional financial system," says Soriano. "Users will have the peace of mind that their operations are backed by a regulated entity," he concludes.
The company plans to announce the first concrete use cases in the coming weeks. Meanwhile, the sector is closely watching the movements of regulators and companies like Criptan that are betting on the integration of cryptocurrencies into the real economy.
You may also like
