Bitvavo, one of the largest European cryptocurrency exchanges, is making MiCA-compliant USDC widely available to Bitvavo’s growing user base to offer regulated, efficient, and transparent dollar stablecoin transactions to European users.
MiCA or Markets in Crypto Assets regulation has been approved by the European Union. This enables compliant participation in crypto for all EU citizens. Unlike in the US, Europe has taken the approach to create bespoke rules for digital assets including non-security digital assets.
In 2023, Circle received conditional registration as “a Digital Asset Service Provider (‘DASP’, or ‘Prestataire de Service sur Actifs Numériques’ (PSAN)) with the French Financial Markets Authority (‘Autorité des Marchés Financiers’ (AMF)).” This approval is a path to operate under MiCA/
Bitvavo expands with MiCA-Compliant USDC
Introducing USDC trading pairs ensures that Bitvavo’s users can “trade with confidence, knowing they are using a MiCA-compliant and transparent digital asset.”
USDC is backed 100% “by highly liquid cash and cash-equivalent assets, that is redeemable 1:1 for US dollars. Of the top stablecoins by market capitalization, only USDC is currently MiCA-compliant.”
Bitvavo has over 1.5 million users and offers them “a comprehensive and user-friendly platform where users can buy, sell, and store over 300 digital assets.”
Users can trade USDC pairs with fees “of 0.05% or lower, offering some of the most competitive rates in the market.”
For the first time, Bitvavo is listing USD denominated trading pairs, “enabling new seamless pairs with major cryptocurrencies like Bitcoin, Ether, and more.”
A commitment to MiCA-compliant coins like USDC “adds a new layer of reliability to customers and offers enhanced user protection. More USDC pairs will follow in the upcoming period.”
Kash Razzaghi, Chief Business Officer at Circle, said that MiCA has set the stage for crypto to flourish in Europe. Bitvavo will enable the full potential of USCD for payments trading and more.
Bitavo now offers 10 USDC trading pairs: BTC/USDC, ETH/USDC, ADA/USDC, XRP/USDC, SOL/USDC, DOGE/USDC, AVAX/USDC, SHIB/USDC, FET/USDC, and DOT/USDC.
Additional USDC pairs will soon be available.
As clarified in the update, USDC pairs are only available in the Bitvavo ‘Pro Mode’ interface via web (mobile or desktop).
In the near future, Bitvavo says that is planning to “make USDC trading pairs also available in the app.”
