Checkout.com buys euro stablecoin issuer Blue EMI

Core Insights - Checkout.com has acquired Blue EMI, a regulated electronic money institution authorized to issue euro-backed stablecoins, enhancing its capabilities for institutional use cases [1][2] - The acquisition allows Checkout.com to leverage Blue EMI's payment services and euro-denominated stablecoin issuance, supporting e-commerce and crowdfunding platforms [2] Group 1: Acquisition Details - Blue EMI operates under the authorization of the Bank of Lithuania and provides various payment services, including issuing euro-denominated stablecoins [2] - Checkout.com has secured all necessary regulatory approvals for the acquisition, indicating compliance with relevant financial regulations [2] Group 2: Expansion Plans - Alongside the acquisition, Checkout.com announced the establishment of a new technology center in Lithuania to support European expansion [3] - The Vilnius hub will focus on product development and cross-border collaboration, creating high-skilled roles in the region [3] - Lithuania was chosen for its favorable fintech regulatory framework, available talent, and access to the SEPA payments system through CENTROlink [3] Group 3: Strategic Vision - Checkout.com’s CEO emphasized that the acquisition is a strategic investment in the European fintech ecosystem, aimed at fostering innovation and maintaining a competitive edge in the digital economy [4] - The company previously partnered with Microsoft to enhance payment performance for enterprise merchants, indicating a focus on technological advancement [4]