Tag: EMI

A whistleblower alleges that Xoala restricted funds belonging to multiple crypto companies during the MiCA transition. FinTelegram has not independently verified the claims, but the allegations emerge as Sweden’s Finansinspektionen investigates Steven AB, the regulated EMI behind Xoala’s European payment setup.

The Bank of Lithuania’s decision to revoke the EMI licence of Paytend Europe UAB marks a stunning regulatory validation of FinTelegram’s prior reporting on the payment processor’s relationship with the unregulated crypto exchange MEXC. Weeks before the licence revocation, FinTelegram publicly warned Paytend Europe in an open letter that its continued facilitation of MEXC through the Romanian vehicle Finetix Ltd S.R.L. exposed the Lithuanian EMI to severe AML and regulatory consequences.

At first glance, T1 Payments may look like an old story from the heyday of binary options, high-risk MLM, and aggressive offshore processing. Its glory days as one of the major high-risk payment processors are long over. But the case is far from dead. Courts in the U.S. and Europe are still dealing with the wider fallout, including the role of its long-time partner Payvision.

Mastercard’s agreement to acquire stablecoin infrastructure specialist BVNK for up to $1.8 billion shows that stablecoins are no longer being treated as a fringe crypto experiment. For one of the world’s largest card networks, they are becoming a strategic payments rail that must be integrated, governed, and monetized.