The ASJ Group Journal

Insights, guides & briefings.

Working papers from our directors on cross-border structuring, banking, licensing, mobility and tax. Long-form guides for the topics that repay careful reading; short briefings when the news moves.

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#licensing5 results

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EU payment rails in 2026: EMI, PI, CASP — and which one you actually need
GuideFintech

EU payment rails in 2026: EMI, PI, CASP — and which one you actually need

Founders routinely apply for the wrong European licence and lose eighteen months finding out. EMI, payment institution, CASP and the incoming PSD3 perimeter authorise different things, cost different amounts and open different banking doors. This guide maps activity to licence, and licence to rails.

3 Aug 2026 10 min
iGaming in 2026: licensing, acquiring and the payments chain that decides your margin
GuideiGaming

iGaming in 2026: licensing, acquiring and the payments chain that decides your margin

An iGaming licence is the easy part. The hard part is card acquiring, payment service providers, chargeback ratios and the banking chain behind them. This guide sets out how licence choice constrains payments, and how to sequence a launch so the rails exist before the product does.

2 Aug 2026 10 min
MiCA one year in: what changed for crypto structures
BriefingCompliance

MiCA one year in: what changed for crypto structures

The EU's Markets in Crypto-Assets regime is now fully in force, and it has quietly redrawn the map of viable jurisdictions, banks and custodians for digital-asset holdings. Structures that worked in 2023 are being unwound. This briefing sets out what MiCA changed in practice, which banking corridors closed, and how founders and family offices should re-paper their crypto exposure in 2026.

6 Jul 2026 8 min
Most fintech licences fail at the bank, not at the regulator
BriefingFintech

Most fintech licences fail at the bank, not at the regulator

Most fintech founders assume the regulator is the hard part. In practice, the FCA, MFSA, DFSA or CBB will approve on paper — and the acquiring bank will then decline on evidence. Safeguarding accounts, settlement banking and card-scheme sponsorship are where EMI and PSP applications quietly collapse. This is what a bankable licence file actually looks like in 2026.

28 Jun 2026 9 min
iGaming: the licence is easy. The payments are the whole game.
BriefingiGaming

iGaming: the licence is easy. The payments are the whole game.

Any operator with a serious sponsor and a clean file can win a Curaçao, Anjouan, MGA or Isle of Man licence in 2026. Card acquiring, PSP relationships and settlement banking are where iGaming businesses actually fail. This piece explains why payments — not licensing — decide which operators scale, and how to sequence the two workstreams so neither blocks the other.

23 May 2026 9 min
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