EU Banking Authority Labels Circle’s USDC as ‘First Significant E-Money Token‘
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Article Details
Written by: Turner Wright (staff writer)
Edited by: Sam Bourgi (staff writer)
Published: October 14, 2026
The European Banking Authority (EBA) has classified Circle’s USDC stablecoin as a significant e-money token under the region’s Markets in Crypto Assets (MiCA) framework. This classification means the USDC stablecoin will be jointly overseen by the EBA and France’s supervisory authority, the Autorité de Contrôle Prudentiel et de Résolution, given its $73 billion market capitalization.
"For European corporates to make cross-border payments globally, offering only a euro stablecoin isn’t enough." — AllUnity CEO Alexander Höptner
This move comes as EU-based token issuers advocate for regulated US dollar-pegged stablecoins. As authorities and issuers advance towards embracing dollar stablecoins, the European Central Bank continues to explore the introduction of a digital euro.