Circle Becomes First Global Stablecoin to Achieve MiCA Compliance

Circle, the issuer of USDC and EURC, has become compliant with the European Union’s Markets in Cryptocurrency Agreement (MiCA) regulatory framework. With this achievement, Circle becomes the first global stablecoin issuer to meet the rigorous standards set by MiCA.

This milestone was made possible by Circle’s acquisition of an Electronic Money Institution (EMI) license from French banking regulator Autorité de Contrôle Prudentiel et de Résolution (ACPR). This license will allow Circle to issue both USDC and EURC in the EU while meeting MiCA’s stringent regulatory obligations for stablecoins and electronic money tokens.

“Since Circle’s inception, we’ve prioritized building a robust, compliant infrastructure for stablecoins,” said Jeremy Allaire, Circle Co-Founder and CEO. “Achieving MiCA compliance is a key moment in bringing digital currencies closer to broader adoption and mainstream finance.”

The newly established Circle Mint, headquartered in France, now provides seamless access to mint and redeem USDC and EURC for corporate clients across Europe. This local presence, combined with Circle’s comprehensive regulatory framework, ensures near-instant and cost-effective transactions, creating an environment conducive to digital asset adoption.

Circle’s Chief Strategy Officer and Global Policy Officer Dante Disparte emphasized the broader implications of MiCA compliance, saying, “As digital assets become more deeply integrated into global finance, it is essential to establish a transparent and secure framework. Today’s announcement reaffirms our commitment to fostering a compliant future for internet finance.”

Circle’s proactive approach to regulatory compliance stands in stark contrast to its competitors, with USDC currently the only stablecoin in the top 10 by market cap that meets MiCA standards. This distinction places Circle at the forefront of driving mainstream adoption of regulated digital currencies, reinforced by its adherence to high standards of security, transparency, and regulatory oversight.

Coralie Billmann, Managing Director of Circle France, acknowledged the collaborative effort that led to this achievement, saying: “This license acquisition reflects months of collaboration between the ACPR regulatory team and Circle France. This marks an important moment for Circle, as well as the broader digital finance ecosystem.”

The stablecoin market is currently showing signs of stabilization and recovery. According to the latest data from CoinMarketCap, the total market capitalization of stablecoins has reached approximately $163 billion. This represents a significant increase year-on-year and shows the growing importance of stablecoins in the digital currency environment.

In terms of individual stablecoins, Tether (USDT) remains the dominant player with a market cap of around $112 billion. Other major stablecoins such as USD Coin (USDC) and DAI have also seen their market caps grow, with USDC at $33.6 billion and DAI at $5.3 billion.

The stablecoin market has been affected by a variety of factors, including regulatory developments, market volatility, and changes in investor sentiment. Despite these challenges, however, stablecoins continue to attract attention as a stable and convenient means of transferring value in the digital economy.

Now with MiCA compliance secured, Circle appears to be leading the way in integrating regulated digital currencies into the global financial system.

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