Plasma a blockchain company building a stablecoin-focused network, has announced a major expansion into Europe to offer regulated payment services.
The company announced on Thursday that it has acquired a licensed Virtual Asset Service Provider (VASP) entity in Italy, allowing it to legally manage crypto transactions and custody of assets in the region. As part of its EU expansion, the company is opening a new office in Amsterdam, Netherlands and has appointed a Head of Compliance and a Head of Money Laundering Reporting.
The Italian entity was previously known as GBTC Italia and will be known as Plasma Italia SrL after the acquisition, while the new Dutch entity will be Plasma Nederland BV, a spokesperson told CoinDesk.
“The Netherlands is one of the most established payments platforms in Europe,” Adam Jacobs, head of global payments at Plasma, said in a statement. “Growing our team and regulatory presence here gives us the opportunity to own a larger share of the payments stack, from stablecoin settlement to licensed financial infrastructure.”
The company also plans to apply for Crypto Asset Service Provider (CASP) status under the new EU MiCA regulations and obtain an Electronic Money Institution (EMI) license. These measures would allow Plasma to trade assets, issue cards and hold customer funds within regulatory safeguards.
“By controlling a fully licensed payments stack, we can provide greater reliability and access to merchants, individuals and institutions,” added Jacobs.
Plasma has become a fast-growing blockchain rail designed for global stablecoin payments, a potentially huge market as crypto becomes increasingly popular for cross-border money movement. Stablecoins are a type of cryptocurrency whose prices are anchored to fiat currency like the US dollar, and could offer faster and cheaper settlements compared to traditional payment routes, their supporters say. Currently a $300 billion asset class, stablecoins could reach $4 trillion by the end of the decade as they become increasingly integrated into the global banking and financial network, according to a Citibank report last month.
The Plasma Chain has attracted $7 billion in stablecoin deposits since its public launch just a month ago, becoming the fifth largest blockchain in terms of stablecoin supply.
Plasma said it intends to use these licenses to power its stablecoin-based neobank, dubbed Plasma One. By owning the entire compliance stack, the company said it can offer faster settlements, lower fees and fewer intermediaries while keeping customer funds segregated and protected by European law.
“Our goal is to set a high standard for blockchain-native stablecoin infrastructure by obtaining the appropriate licenses and owning the end-to-end regulated stack,” Jacob Wittman, Plasma’s general counsel, said in a statement.
UPDATE (October 23, 2025, 2:37 p.m. UTC): Adds the names of the new entities.
