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Paysafe registered as Virtual Asset Services Provider in Italy
Aug 17, 2022
London, UK: Leading specialised payments platform, Paysafe (NYSE: PSFE), today announces that it has obtained registration in Italy as a Virtual Asset Services Provider (VASP) with the ‘Organismo Agenti e Mediatori’ (OAM).
OAM recently introduced the register in Italy as a requirement for all companies offering crypto trading, custody or other services in the country in light of the rapid growth of the virtual asset market.
Paysafe, which provides card processing, eCash solutions, open banking and ‘wallet as a service’ embedded payments solutions, supports leading virtual asset platforms and crypto exchanges around the world, enabling them to offer compliant and effective payment services to their customers. Furthermore, through Paysafe’s own digital wallets Skrill and NETELLER, available globally, consumers can buy and sell more than 40 cryptocurrencies. Paysafe’s recent VASP registration in Italy follows its crypto asset company registered status from the UK’s Financial Conduct Authority – the company was among the first to achieve this at the end of 2021.
Commenting on the new status, Chirag Patel, CEO, Digital Wallets at Paysafe, said: “As part of our commitment to providing secure, fast and compliant services to our merchants and consumers, we continue to invest in our regulatory capabilities. Evolving regulatory frameworks are key to supporting our customers globally as the virtual asset class matures and adoption grows. We are proud of our new VASP-registered status in Italy which has long been an important market for us.”
About Paysafe’s virtual asset offering
Leading specialised payments platform, Paysafe, and its global digital wallets brands Skrill and NETELLER, enable users to buy and sell crypto, anytime and anywhere. Customers can use over 100 payment methods to deposit into Skrill and NETELLER and convert over 40 fiat currencies into a wide range of cryptocurrencies. Paysafe, which has over 20 years of online payment experience, also offers a wallets-as-a-service embedded finance solution which provides a range of payment solutions to cryptocurrency exchange businesses, supporting them to offer compliant international payment services to their customers.
Paysafe also provides card processing services and eCash solutions to a wide range of crypto companies and exchanges around the world.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of over US $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
Kaizo PR for Paysafe
Phone: +44 203 176 4700
Anna Birdsall-Strong, VP Communications, Europe, Paysafe