Paysafe Receives Registration from OAM to Operate as VASP in Italy

Paysafe, a leading specialised payments platform, today announces that it has registered as a virtual asset service provider (VASP) in Italy with the 'Organismo Agenti e Mediatori' (OAM). Paysafe is the latest in a string of firms to do so, following eToro and Blockchain.com​.

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.

With this registration, Paysafe will be able to offer a suite of products and services to Italian customers in compliance with local regulations.

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."

This week, Paysafe's viafintech GmbH has formed a partnership with Pecunpay, a brand from e-money institution Pecunia Cards EDE, to launch a new cash deposit and withdrawal network in Spain.