According to the company’s representatives, Circle became the first to receive permission to conduct stablecoin operations in Europe. The license will open access to a market that includes twenty-seven countries. The subsidiary Circle Mint France will issue EURC and USDC in the European Union.
“The entire European regulated financial sector can now adopt blockchain-based financial infrastructure, greatly expanding the utility of stablecoins. We are seeing significant interest in EURC from large enterprises, financial institutions and payment companies,” said Circle CEO Jeremy Allaire.
Circle applied for local licenses in France as a digital asset service provider and electronic money institution in the spring of 2023. At that time, the issuer announced plans to issue a euro-denominated stablecoin EUROC and begin the process of implementing it in accordance with MiCA requirements.
Earlier, Circle CEO suggested that by 2025, the role of stablecoins in the global economic model will change qualitatively, which will make them a legal monetary instrument.
Source: Bits
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