UK-based payments platform Checkout.com has acquired Blue EMI, a regulated electronic money institution (EMI) authorised to issue euro-backed stablecoins.
The acquisition gives Checkout.com access to Blue EMI’s euro stablecoin capabilities for institutional use cases.
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Blue EMI operates under authorisation from the Bank of Lithuania and can provide payment services and issue euro-denominated stablecoins. It supports e-commerce businesses and licensed crowdfunding platforms with open banking services, embedded checkout payment solutions and card payment services.
Checkout.com said it has secured all relevant regulatory approvals for the acquisition.
Alongside the deal, Checkout.com also announced establishing a new technology centre in Lithuania as part of its European expansion.
The innovation and technology hub in Vilnius will support product development and cross-border collaboration, while creating high-skilled roles in Lithuania.
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By GlobalDataCheckout.com cited Lithuania’s fintech regulatory framework, available talent across technical and compliance functions, and access to the SEPA payments system through CENTROlink as factors behind the location choice.
Checkout.com founder and CEO Guillaume Pousaz said: “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 move, alongside the new Vilnius hub ensures we continue to drive the high-skilled innovation required to keep our customers ahead in a rapidly evolving global digital economy.”
In October last year, Checkout.com partnered with Microsoft to improve payment performance for enterprise merchants.
