EBA classifies USDC as the first significant e-money token in the EU
Published Quote last verified
- Stablecoins
- Regulation
Executive summaryFact
The EBA classified USDC as a significant EMT under MiCA; dual supervision applies from 12 November 2026. The EBA also signed an MoU with NYDFS.
Primary source: European Banking Authority ↗
Key factsFact
- Event
- Supervisory decision
- Jurisdiction
- EU
- Source
- European Banking Authority
- Source tier
- Tier 1 · Regulator / central bank
- Regulation
- MiCA
Who is affectedFact
Circle Internet Financial Europe SAS, which issues USDC in the EU, and its supervisors: the EBA and France’s ACPR.
Key datesFact
- USDC subject to MiCA dual supervision for significant EMTs
From the sourceFact
“There are currently 45 EMTs in the European Union, which have been notified under MiCA, and USDC is the first one to be classified as being significant.”
“From 12 November 2026, USDC will be subject to the dual supervision foreseen by MiCA for significant EMTs.”
“USDC is issued in the European Union by Circle Internet Financial Europe SAS”
Why it matters for banksAnalysis
EU banks holding USDC or serving its issuer face a stricter supervisory regime for the token, including EBA oversight; it is a reference case for bank-issued EMTs reaching significance.
Editorial analysis, not advice.
AIAI-assisted: summary and analysis were drafted with AI from the primary source and are the editor’s responsibility. AI-drafted from the primary source; quote string-matched by scripts/verify.mjs. Methodology · Corrections · Report an error
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