🇪🇺 Deutsche Börse and Circle Combine Forces to Make Stablecoins More European
German securities giant Deutsche Börse has partnered with USDC issuer Circle to support adoption of regulated stablecoins throughout Europe. The Deutsche Börse Group’s Market Infrastructure now integrates Circle’s USDC ($0.9996) and EURC (€1.07).
A memorandum of understanding announced on Tuesday governs the collaboration between the two parties. The integration will first focus on listing and trading via Deutsche Börse’s 3DX platform and Crypto Finance as sub-custodian.
“We want to get regulated stablecoins into Europe’s financial market. This reduces settlement risk and costs. It also makes things more efficient for banks, asset managers, and the rest of the market,” says Jeremy Allaire.
Linking EURC and USDC with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody.
⚖️ Focus on MiCA Compliance
Thanks to the Markets in Crypto-Assets (MiCA) Regulation in the European Union, which came into force at the end of 2024, Circle became the first global stablecoin issuer fully compliant with MiCA. This gives them a significant regulatory advantage in Europe.
As part of the agreement, Deutsche Börse will leverage its post-trade subsidiary Clearstream for custody services, with Crypto Finance acting as the sub-custodian. These systems ensure trading and settlement of USDC and EURC will be efficient and seamless.
Also Read : Kazakhstan Introduces Stablecoin Tied to Tenge; Solana, Mastercard Onboard
💬 Multi-Issuer Stablecoin Debate in Europe
The partnership follows news that European authorities are considering restrictions on multi-issuer stablecoins, which are tokens issued in multiple jurisdictions under a single brand. The European Systemic Risk Board (ESRB) recommended curbs on such multi-issued stablecoins, citing legal, operational, and liquidity risks.
Circle’s compliance with MiCA gives it a competitive advantage over Tether (USDT), which has declined regulatory compliance due to local reserve requirements. Regulated stablecoins are gaining traction across Europe, similar to Société Générale deploying USDV and EURV through Morpho and Uniswap DeFi protocols in December last year.
The partnership illustrates the growing acceptance of stablecoins by European institutions, with Circle and Deutsche Börse positioning themselves as leaders in a regulated and interoperable crypto ecosystem.
