Payset Announces SafeLynx MiCA Authorisation

News and announcements

Jul 29, 2026

4 min. read

James Irwin

Author

Payset is pleased to confirm that its sister company, SafeLynx Technologies ApS, was granted authorisation as a Crypto-Asset Service Provider (CASP) under the European Union’s Markets in Crypto-Assets Regulation (MiCA) by the Danish Financial Supervisory Authority on 30 June 2026.

The authorisation applies specifically to SafeLynx’s existing activities involving:

the exchange of crypto-assets for funds; and
the exchange of funds for crypto-assets.

SafeLynx has provided crypto exchange services since inception. The MiCA authorisation, viewable on the official register here, represents the continuation of those services within the European Union’s harmonised regulatory framework rather than the launch of a new business line.

A Harmonised Regulatory Framework for Crypto-Asset Services

MiCA establishes a harmonised regulatory framework for crypto-asset services across the European Union. Since 1 July 2026, only firms authorised under MiCA may offer crypto-asset services in the EU.

Only a small fraction of the virtual asset service providers previously registered across the EU have obtained this authorisation — as of July 24, 2026, 308 firms in the entire EU/EEA held a MiCA authorisation, according to ESMA’s interim MiCA register. Authorisation under MiCA isn’t granted lightly: it requires firms to meet regulatory requirements covering areas including capital requirements, governance, and operational arrangements.

Strengthening the Payset Group’s Regulatory Footprint

The authorisation reflects the Payset Group’s continued focus on operating within appropriate regulatory frameworks.

Payset remains separately authorised as an Electronic Money Institution (EMI) by the UK Financial Conduct Authority. The MiCA authorisation applies only to SafeLynx Technologies ApS, while Payset’s regulatory status, services and products remain unchanged. Each authorisation applies solely to the specific legal entity to which it has been granted.

A UK multi-currency account can streamline how you manage your finances. Whether for business or personal use, a multi-currency account provides you with added freedom and flexibility and removes barriers to payments and transfer methods.

Here is everything you need to know about UK multi-currency accounts.

A Payset UK multi-currency account is a single account with which you can hold, send, and receive funds in up to 38 currencies. This allows business or personal account holders to save endless time and money on foreign exchange, and money transfers, which from a traditional bank account would be far more expensive and slow.

From your personal UK-based IBAN account, you can transfer money to bank accounts around the world as well as send and receive free and instant transfers to and from other Payset clients. You can send funds using a diverse network of payment networks, including SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more.

When you exchange funds from one currency to another, there are no margins added to our exchange rates and the fees are clearly displayed before you click send. If you, for example, work with multiple currencies, make purchases in other countries, travel frequently, invest in foreign currencies, pay staff in other countries, or receive payments in other currencies, a multi-currency account can save you time, money, and work compared to a traditional bank account.

There are lots of banking institutions and financial services that will aid you in opening a multi-currency account. Often they can allow you to convert and transfer a considerable number of currencies.

Before you open a UK multi-currency account with any platform or service, make sure you have explored all of the different options available to you and have found the best type of account to suit your financial needs.

How Does a UK Multi-Currency Account Work?

A UK multi-currency account works in the same way as a standard bank account or electronic wallet. Although the services provided will change depending on where you choose to open your account and who you choose to open the account with, all multi-currency accounts should allow you to:

Withdraw money

Send and receive payments in multiple currencies internationally

Access your funds for electronic transfers

Earn interest on your account total

In the same way that fees can occur with a standard bank account you may run into additional charges with a UK multi-currency account.

You could be charged for a number of actions including; making withdrawals, account opening and closure fees, transfer fees, and more.

The frequency or amount of these charges will often vary and if you ask your banking agency they will usually be able to tell you exactly how much you will be charged and which services you will be charged for before you open your account.

Alternative Options to Consider Before Opening a UK Multi-Currency Account

There are many alternatives to opening a UK multi-currency account. For example, there are also money transfer services and online electronic wallets such as Payset that allow you to send your money in over 34 currencies without the need for a UK multi-currency account. You can start sending money across the globe or in person today using your existing bank account.

Frequently asked questions

What is a UK multi-currency account/IBAN?

Are there limits to the amount of money I can send and receive with a UK multi currency account?

Which currencies can I send and receive in my UK multi currency account?

How do I add money to my UK multi currency account?

Types of UK Multi-Currency Accounts

Multi-currency IBAN accounts
Personal multi-currency accounts
Multi-currency accounts for business
Multi-currency cash passports
Multi-currency wallets

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