Circle, a global financial technology firm and the issuer of USDC and EURC, has announced that it has become the “first” global stablecoin issuer to achieve compliance with the European Union‘s Markets in Crypto-Assets (MiCA) regulatory framework.
This achievement was reportedly enabled “by the company’s attainment of an Electronic Money Institution (EMI) license (’agrément en qualité d’établissement de monnaie électronique) from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the French banking regulatory authority.”
With this license, both USDC and EURC are now “being issued in the EU in compliance with MiCA’s regulatory obligations for stablecoins or e-money tokens, which took effect yesterday.”
As part of attaining compliance with this comprehensive regulatory regime, Circle Mint is officially “available for business customers in Europe.”
Equipped with local banking capabilities, Circle Mint France “provides near-instant and cost-effective access to mint and redeem USDC and EURC throughout the European market.”
Jeremy Allaire, Co-Founder and Chief Executive Officer at Circle said:
“Since our founding, Circle has sought to build durable, compliant, and well-regulated infrastructure for stablecoins, and our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance. By working closely with French and EU regulators, we are now able to offer both USDC and EURC as fully-compliant dollar and euro stablecoins to the European market, unlocking the enormous potential of digital assets to transform finance and commerce.”
Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle said:
“Achieving MiCA compliance through our French EMI license is a significant step forward, not just for Circle, but for the entire digital financial ecosystem in Europe and beyond. As digital assets become increasingly integrated into the mainstream financial landscape, it is essential that we establish robust, transparent frameworks to promote trust and adoption. Today’s announcement further reinforces our commitment to building a more inclusive, compliant future for internet finance.”
Of the top 10 stablecoins by market capitalization, “only” USDC is “currently MiCA-compliant.”
This milestone underscores Circle’s commitment “to regulatory compliance for dollar and euro stablecoins.”
The company’s proactive approach to meeting “high standards of security, transparency and oversight will help drive the mainstream adoption of regulated digital currencies.”
