Circle becomes first global stabelcoin issuer to be MiCA compliant

July 2, 2024
Darren Parkin

STABLECOIN issuer Circle has achieved compliance status under the European Union's landmark Markets in Crypto-Assets (MiCA) regulatory framework.

The global financial technology firm, and issuer of USDC and EURC, was granted 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 the EMI, 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 on Sunday.

As part of attaining compliance, Circle Mint is officially available for business customers in Europe. Equipped with local banking capabilities, Circle Mint France provides near-instant access to mint and redeem USDC and EURC throughout the European market.

“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,” said Jeremy Allaire, co-founder and Chief Executive Officer at Circle.

“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, added the move was a significant step forward for the 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," he said.

"Today’s announcement further reinforces our commitment to building a more inclusive, compliant future for internet finance."