USDC issuer partners with Deutsche Börse for Europe stablecoin adoption

Deutsche Börse has partnered with USDC issuer Circle to promote stablecoin adoption in Europe. They signed a memorandum of understanding to integrate Circle’s stablecoins, including the euro-pegged EURC and dollar-pegged USDC, into Deutsche Börse’s financial market infrastructure. The initial focus will be on trading on Deutsche Börse’s digital exchange 3DX and custody via Crypto Finance, a sub-custodian. This collaboration is facilitated by the European Union's MiCA framework, which aims to establish regulations for stablecoins. Circle's CEO Jeremy Allaire emphasized the goal of enhancing the use of regulated stablecoins, improving market efficiency, and reducing settlement risks. Meanwhile, discussions are ongoing in Europe regarding a potential ban on multi-issuer stablecoins, which has raised concerns among companies such as Circle and Paxos. Although no formal ban has been enacted, there are pressures to impose restrictions. In contrast, Tether, the issuer of USDt, has struggled with compliance with the MiCA framework, while other firms, including Société Générale-Forge, are actively deploying stablecoins in decentralized finance protocols.

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