ESMA: What does this mean?

Plutus is already registered as a Virtual Asset Service Provider (VASP) in Lithuania, and now, with our updated whitepaper notification, we can plan for on-chain PLUS rewards in line with applicable requirements.

This does not mean approval or endorsement by ESMA or any EU authority. Instead, it means our whitepaper has been notified under MiCAR’s transitional rules, allowing us to take the next steps in preparing PLUS for its on-chain journey.

Here’s what this enables us to start working on:

• Testing token swaps and redemptions (on/off-ramp mechanics).
• Building on-chain utility for PLUS.
• Planning distribution of digital assets to eligible customers.
• Supporting both custodial and non-custodial wallet services for rewards and utilities.

Base: When Live?

Your PLUS More is already live on the Base network. The rollout to customers will start this year and continue through 2026, with ongoing development adding more on-chain utilities to strengthen the network.

PLUS Go-Live on Base:

• DEX Listing: Plutus-provided Liquidity Pool to build on-chain activity and test FUEL.
• On-Chain Payouts: Select BETA customers to validate smart contracts.
• On-Chain Utility: Redeem PLUS via connected wallet for top-ups, gift cards, & more.
• On-Chain Expansion: RaaS and Payouts available to the wider customer base. 

Note: This phased plan ensures a stable network before broader on-chain PLUS payouts and Rewards-as-a-Service (RaaS) partners join Plutus. It aims to leverage FUEL to build network activity and system depth. This approach sustainably enables customers to redeem PLUS on-chain (earned in-app, via RaaS, or on the DEX) for the expected £/€10 tangible value via merchant offers, such as cashback, miles, and gift card discounts, without impacting the ecosystem.

MiCA: What’s Next?

As part of the EU-wide regulatory shift, the Markets in Crypto-Assets (MiCA) framework is being phased in next year. Under MiCA, fintechs offering Web3 services, like Plutus, will need to obtain additional licensing as a CASP (Crypto Asset Service Provider) once the rules come into effect in/by 2026. We are prepared to complete submissions ahead of the deadline to ensure full compliance.

UK FCA: Watching Closely

We’re keeping a close eye on the UK’s crypto regulation roadmap to ensure Plutus stays ahead of the game. The Financial Conduct Authority (FCA) has provided guidelines, with further consultations on broader requirements due in Q3 2025. Final rules are expected by late 2025, with the regulatory gateway for UK authorisation likely opening up by mid-2026.

We’ll keep our customers updated on how these developments could shape Plutus features and services, so you're ready for the UK’s new regime before it lands.

In Summary:

• Plutus has notified an updated PLUS Whitepaper under MiCAR, paving the way for on-chain activity.
• Registered as a VASP in Lithuania, operating in line with applicable laws (registration does not imply endorsement).
• A phased rollout of on-chain PLUS features is planned for 2025–2026.
• MiCA CASP licensing will be pursued in advance of 2026 requirements.
• UK FCA rules are in progress, with expected authorisation from 2026.

Thank you for being part of the Plutus journey. The next chapter is on-chain, focusing on utilities and international scaling with a sustainable rewards system for the masses.

⚠️ Risk & Disclaimer

Crypto-assets carry risks, including market volatility, technology risks, and regulatory changes. Access to PLUS utilities may vary by region and over time. No value or return is guaranteed.

This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication.

And as always, be advised to read official updates to get accurate information and stay ahead!