According to representatives of the company, Circle was the first to receive permission to conduct operations with stablecoins in Europe. The license will open access to a market that includes twenty-seven states. A subsidiary of Circle Mint France will produce EURC and USDC in the European Union.
"The entire European regulated financial sector can now adopt blockchain-based financial infrastructure, which will significantly expand the usefulness of stablecoins. We see significant interest in EURC from large enterprises, financial institutions and payment companies," said Circle CEO Jeremy Allaire.
Circle has applied in France for local licenses of a digital asset service provider and an electronic money institution in the spring of 2023. Then the issuer announced plans to issue the euro-denominated eurocoin EUROC, and begin the process of its implementation in accordance with MiCA requirements.
Earlier, the CEO of Circle suggested that by 2025, the role of stablecoins in the global economic model will change qualitatively, which will make them a legal monetary instrument.