Key Takeaways
- Deutsche Börse will integrate Circle’s stablecoins and tech into its market infrastructure.
- Circle was the first global stablecoin issuer to receive EU approval.
- USDC carries a market cap of $73.44 billion, and EURC stands at $257.99 million.
Stablecoin adoption in the European Union (EU) is set to get a major boost as one of the crypto market’s top issuers, Circle (USDC), inks a partnership with German multinational financial behemoth, Deutsche Börse Group.
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Stablecoin Proliferation
As per the announcement, the duo has signed a Memorandum of Understanding which will see Deutsche Börse adopt Circle’s digital dollar and euro stablecoins, USDC and EURC, into its financial market infrastructure.
The initiative intends to bring “new solutions” to Europe’s market infrastructure and connect its legacy foundations with token-based payment networks.
To begin with, the partnership will see stablecoins listed and traded on Deutsche Börse’s digital exchange, 3DX, and institutional provider, Crypto Finance.
It could provide Circle’s EURC with a massive boost in the region. Having launched its euro stablecoin in mid-2022, EURC’s growth has been muted.
MiCA Regulation
Circle’s co-founder, chairman, and CEO, Jeremy Allaire, explained that the move will reduce settlement risk and costs and enhance efficiency for institutions, asset managers, and the broader market. He adds:
“As clear rules take hold across Europe, aligning our regulated stablecoins, EURC and USDC, with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody.”
Indeed, the EU’s Markets in Crypto Assets (MiCA) regulation makes this possible as now, compliant stablecoins can legally operate as Asset-Referenced Tokens (ARTs), or Electronic Money Tokens (EMTs).
The difference is that ARTs are tied to a basket of assets (crypto, fiat, or other asset combinations), and EMTs are pegged to a single currency.
Circle was the first global issuer approved to operate as an EMT in the EU, having obtained its e-money license in July 2024.
In just over a year since then, EURC’s market cap has risen from $37.85 million to $257.99 million .
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