Payment services infrastructure is a huge area for cryptocurrency companies and there is a lot of potential here. Offered by giants such as Visa, Mastercard and Swift cryptocurrency focused steps to take advantage of exactly this potential. Plasma, the first major stablecoin network supported by Tether, also does what is necessary here.
Plasma (XPL) Licenses
to stablecoins Plasma, which was launched as a private blockchain, wants to turn into a center for dollar transfer on a global scale. Stablecoin has its own code library for exchange, storage, swaps and payments. The team, which continues to obtain the necessary legal permissions for this, has taken many big steps so far.
- VASP licensed organization was acquired in Italy.
- The Netherlands office was opened and compliance and regulation personnel were employed.
- Applications for CASP authorization will soon be made under MiCA.
Payments are regulated for cryptocurrencies in almost every jurisdiction. Plasma also started its strong growth in this field by obtaining permanent licenses beyond limited permits. The acquisition of a VASP licensed company in Italy is an important stage for the Crypto Asset Service Provider (CASP) license. Thus, they will be able to serve in the EU region with permission.
Plasma Consultant Jacob Wittma said;
“Our goal is to set the highest possible standard for blockchain-based stablecoin infrastructure by obtaining the right licenses and controlling all regulated phases.”
XPL Coin Review
Ongoing steps regarding licensing and Plasma One iCrypto banking launched with XPL Coin is extremely supportive in the long term. Due to speed and low fees, Tron and Tether have become monopolized over the years. However, since Tether has launched its own network, it will make USDT more widely used over Plasma with a zero fee policy.
this situation XPL Coin price It means getting stronger in the long run. The price below $0.4 is not that surprising since it is a new coin that is about 1 month old and the overall market sentiment has turned negative. Moreover, it has stopped the decline for a few days. If closes begin above $0.56, this could enable the V-type recovery we expect to see after the launch.
