Europe’s MiCA Stablecoin Market Hits Milestone with 17 Authorized Issuers
Europe's regulated stablecoin landscape has reached a significant inflection point. Seventeen licensed electronic money token issuers now operate across 10 EU countries, with 25 single-fiat stablecoins approved under MiCA regulations. The framework requires full reserve backing, independent audits, and strict capital requirements—yet not a single asset-referenced token has been authorized despite their prominence in the original legislation.
The European Central Bank sounds alarm bells about dollar-pegged stablecoins dominating the market while euro-denominated alternatives struggle for traction. Meanwhile, institutional adoption grows as Deutsche Börse and other financial heavyweights begin integrating MiCA-compliant stablecoins into settlement infrastructure.
Circle's Patrick Hansen observes the ecosystem's expansion through licensed issuers covering more currencies and geographies. This quiet revolution in regulated digital assets unfolds as MiCA's stablecoin provisions demonstrate their teeth—demanding e-money standards with 1:1 safeguarded reserves while leaving ART approvals conspicuously absent.
