Checkout(.)com has entered the stablecoin acquisition space.
The company made an undisclosed bid for Euro stablecoin issuer Blue EMI – signalling its intention to adopt the use of stablecoins in e-commerce checkouts.
Blue EMI has recently secured an EMT (Electronic Money Transfer) license under the MiCAR framework, with oversight from the Bank of Lithuania.
Checkout.com Founder and CEO Guillaume Pousaz expressed:
Europe has set the global pace for the evolution of digital money, creating a framework that allows innovation to thrive with trust. Our acquisition of Blue EMI is a strategic investment in the European fintech ecosystem.”
This marks a strong turning point for the European M&A activity, which hasn’t been as active as the series of acquisitions over the last 12 months in the U.S. and Asia.
Euro-backed stablecoins are still only <1% with $866M overall supply (per CoinGecko) at the at the time of writing compared with the total stablecoin market cap, although they are increasing their presence with Circle’s EURC leading the pack.
