BIG Crypto News: EU Approves 14 Stablecoin Issuers Under MiCA Regulation
July 8, 2025 — The European Union’s landmark regulatory framework for crypto-assets, known as Markets in Crypto-Assets (MiCA), is demonstrating its growing impact across the continent’s digital finance landscape. Now six months into regulating Crypto-Asset Service Providers (CASPs) and a full year since e-money token (EMT) issuers came under its purview, MiCA has officially authorized 14 companies to issue stablecoins under its standards.
MiCA Hits Major Milestone: Authorized Stablecoin Issuers
MiCA was introduced to bring clarity and regulatory oversight to the rapidly evolving cryptocurrency market in Europe, particularly targeting fiat-backed stablecoins known under the regime as e-money tokens (EMTs). Fourteen issuers from seven different European countries have obtained official authorization to launch and operate stablecoins compliant with MiCA.
These countries and the number of authorized stablecoin issuers each include:
- France: 3 issuers
- Germany: 1 issuer
- Malta: 3 issuers
- Netherlands: 3 issuers
- Czech Republic: 1 issuer
- Finland: 1 issuer
- Lithuania: 1 issuer
Currently, a total of 20 MiCA-compliant EMTs are live. Out of these, 12 are denominated in euros (such as EURC, EURAU, EURI), 7 are dollar-denominated stablecoins (including USDC, USD1, USDG), and 1 is denominated in Czech koruna (CZKI).
Full List of MiCA-Authorized E-Money Token Issuers
| Company | Country | E-Money Tokens Issued |
|---|---|---|
| AllUnity | Germany 🇩🇪 | EURAU |
| Ambr Payments | Lithuania 🇱🇹 | – |
| Banking Circle | Luxembourg 🇱🇺 | EURI |
| Circle | France 🇫🇷 | EURC, USDC |
| Crypto.com / 1S1C | Malta 🇲🇹 | USD1 |
| Eurodollar ApS | Denmark 🇩🇰 | – |
| Fiat Republic | Netherlands 🇳🇱 | ENEUR |
| Membrane Finance / Paxos | Finland 🇫🇮 | EURe, eUSD, USDG |
| Payment Corporation SE | Czech Republic 🇨🇿 | CZKI |
| Quantoz Payments | Netherlands 🇳🇱 | EURD, EURQ, USDQ |
| Schuman Financial | France 🇫🇷 | EURØP |
| Société Générale – Forge | France 🇫🇷 | EURCV, USDCV |
| StablR Ltd | Malta 🇲🇹 | EURR, USDR |
| Stable Mint | Malta 🇲🇹 | EURSM, USDSM |
39 Licensed Crypto-Asset Service Providers (CASPs)
Beyond stablecoin issuers, MiCA has approved 39 Crypto-Asset Service Providers (CASPs) operating across nine EU and EEA countries. These firms span traditional financial institutions, fintech innovators, and crypto-native exchanges:
- Germany: 12 CASPs
- Netherlands: 11 CASPs
- Malta: 5 CASPs
- France: 3 CASPs
- Luxembourg: 3 CASPs
- Austria: 2 CASPs
- Cyprus, Spain, Ireland: 1 CASP each
Notable names include:
- Traditional Banking & Finance: BBVA, Clearstream, CACEIS
- Fintech Players: N26, Trade Republic, eToro, Robinhood
- Crypto-Native Companies: Coinbase, Kraken, Bitpanda, OKX, Bitstamp
Other Trends and Insights Under MiCA
- There remain no authorized issuers for asset-referenced tokens (ARTs), indicating limited market appetite for these under current regulations.
- Approximately 30 whitepapers have been filed under MiCA Title II, primarily for cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
- Regulatory transition periods have concluded in countries including the Netherlands, Poland, Hungary, Latvia, Slovenia, and Finland, with the Dutch Financial Markets Authority (AFM) leading the charge in license approvals.
- Meanwhile, over 35 CASPs have been flagged as non-compliant, with many scrutinized by the Italian regulator CONSOB.
Impact on the European Crypto Landscape
MiCA’s introduction marks one of the world’s first comprehensive crypto regulatory frameworks, designed to promote investor protection, market integrity, and innovation within digital assets. The formal approval of stablecoin issuers under MiCA is a critical step forward, offering regulated fiat-backed stablecoins that European consumers and businesses can rely on with greater trust and legal certainty.
As MiCA continues to mature, it is expected to solidify Europe’s position as a leading hub for regulated cryptocurrency activity, fostering clearer rules and a safer environment across its markets.
For continued updates on the evolving crypto regulation and market data, stay tuned to CryptoTicker.