cryptonews.net
Circle stablecoin $EURC joins $USDC, the largest stablecoin on Base, which boasts over $3 billion in circulation as of July 9. The Euro is currently the third largest fiat currency in the world, providing significant growth opportunities in the digital space. Both $EURC and $USDC are compliant with the new Markets in Crypto Assets (MiCA) regulation, making them the first stablecoins on Base from a global issuer to meet these stringent standards.
Jeremy ALLAIRE, Circle’s co-founder and CEO, discussed the future of stablecoins in a recent interview, highlighting the increased competition expected as the EU’s regulatory framework tightens. He emphasized the company’s commitment to compliance as a competitive advantage, noting that Circle recently obtained an Electronic Money Institution (EMI) license. The license, mandatory under MiCA, allows Circle to offer euro- and dollar-pegged tokens in the EU.
Circle’s compliance with MiCA allowed the firm to issue both $USDC and $EURC directly to European clients as of July 1. This development allows banks and electronic money institutions (EMIs) to integrate euro-denominated stablecoins into their services. The announcement comes amid wider industry adaptation to MiCA rules. Several crypto exchanges, including Bitstamp, Binance, Kraken, OKX and Uphold, have delisted euro-denominated stablecoins such as Euro Tether (EURT) in accordance with MiCA requirements.
Image: The Crypto Times