Bridge achieved dual regulatory approval in Luxembourg, obtaining both a Crypto-Asset Service Provider authorisation under MiCA and an Electronic Money Institution license, credentials the company says extend compliance coverage throughout the entire EU. A CASP authorisation alone lets a firm custody and trade crypto assets under MiCA’s harmonized rulebook.
It does not let a firm issue e-money or hold client funds in named payment accounts. The EMI license fills that gap. Pairing the two is what turns a crypto license into a payments license, a stack few US-facing exchanges have matched, per SEC Crypto Enforcement Data, since the SEC and CFTC regulate trading and custody but not e-money issuance.
The dual license permits named and virtual IBANs plus euro accounts that function across all 27 member states on a single integration, and lets businesses launch proprietary EUR-backed stablecoins for on/off ramps, rewards programs, or in-app currencies without building their own compliance infrastructure.
Enterprises can also move funds between subsidiaries using custom stablecoins, bypassing traditional correspondent banking, while financial institutions can settle faster and cheaper on stablecoin rails instead of conventional interbank systems.
Mai Leduc Blount, Head of Product at Bridge, framed the change directly:
“A business in the EU can now issue its own euro stablecoin and pair it with named IBANs and named EUR payouts across all 27 member states, on a single integration.
Mai Leduc Blount
Head of Product – Bridge
Why the EMI License Is the Real Unlock?
Most crypto firms operating in the EU hold a MiCA CASP authorisation and stop there. That license covers trading, custody, and transfers of crypto assets. It does not cover the issuance of regulated e-money or the operation of named payment accounts.
The EMI license turns Bridge from a licensed crypto venue into a licensed payments institution, the pairing that lets a client get a named IBAN and issue its own stablecoin under one roof. That stack is closer to what a neobank runs than what a typical exchange runs. It is the harder license to obtain, carrying capital and safeguarding requirements beyond MiCA’s crypto-specific rules.
Both licenses were granted in Luxembourg, extending compliance coverage across all 27 EU member states. That single point-of-entry model, where one national authorisation is meant to carry across the bloc rather than require separate approval in each country, is why multinational firms target Luxembourg, Ireland, or Malta as an MiCA home base rather than filing in every country where they operate.
A Two-Speed Market After the MiCA Cliff
The MiCA transitional period ended on July 1, 2026. The European Securities and Markets Authority (ESMA) said in its public statement:
“ESMA expects unauthorised CASPs to take immediate steps to wind down their EU activities in an orderly manner, while also safeguarding clients’ interests and mitigating risks to market.
European Securities and Markets Authority (ESMA)
Bridge’s approval landed the same week ESMA told unauthorized providers to exit, capturing MiCA’s two-speed effect: compliant firms are passporting into 27 countries while non-compliant ones wind down. The contrast is not incidental. It is the mechanism MiCA was designed to produce: compliant infrastructure survives regulatory deadlines, unlicensed operators do not.