Circle Mint France has been granted the right to issue EURC and USDC euro-denominated stablecoins in the EU in accordance with MiCA. This was made possible by the company obtaining an Electronic Money Institution (EMI) license from ACPR.
BREAKING NEWS: @Circle announces that USDC and EURC are now available under new EU stablecoin laws; Circle is the first global stablecoin issuer to be compliant with MiCA. Circle is now natively issuing both USDC and EURC to European customers effective July 1st.
Details… pic.twitter.com/isNBumoi3e
In March 2023, Circle applied in France for local licenses for a digital asset service provider and an electronic money institution.
At that time, the company announced plans to introduce its flagship product for the local market — the euro—denominated Euro stablecoin - and launch the process of its recognition in accordance with the provisions of MiCA.
After the implementation of the plans, Circle Mint France was given the opportunity to carry out the "onshore" issue of the token and the USDC in the EU.
The service is available to exchanges, market makers, brokers, individuals, fintech companies, payment institutions, banks and large enterprises.
European users have received protection within the framework of MiCA. The legislation ensures safe and reliable reserves, fully audited financial statements, prudential risk management, strict compliance with the rules against financial crimes and money laundering, as well as detailed public reporting.
Recall that on June 18, it became known about the plans of the Uphold bitcoin exchange to stop supporting USDT, DAI, FRAX, GUSD, USDP and TUSD stablecoins for users from the European Economic Area in order to comply with MiCA requirements.
Earlier, Binance and OKX clients received similar warnings regarding "unregulated stablecoins."