Push by Aave Labs, a provider of access to stablecoins, has secured authorisation as a Crypto-Asset Service Provider from the Central Bank of Ireland.
The company said the approval will enable it to expand regulated access to stablecoins for consumers across the European Economic Area (EEA).
Stablecoins are a type of cryptocurrency that are pegged to a stable asset such as a currency or commodity.
Aave's stablecoin is called GHO.
The company said the new authorisation will allow it to provide on- and off-ramping services to and from bank accounts, converting between euros or dollars and stablecoins.
"Until now, it's been too hard for mainstream users to access these benefits," said Stani Kulechov, Founder and CEO of Aave Labs.
"Regulated access to stablecoins changes that - enabling users to link their bank accounts and swap euros and dollars into stablecoins like GHO to earn, borrow, and save," Mr Kulechov said.
