Ten Stablecoin Issuers Secure MiCA Licenses

Ten companies have received approval to issue stablecoins in the European Economic Area (EEA) under MiCA regulations.

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50 days after MiCA’s full entry into application, here’s where we stand according to the latest ESMA interim… pic.twitter.com/OG7WwMProh

— Patrick Hansen (@paddi_hansen) February 19, 2025

Patrick Hansen, Circle’s Senior Director for Strategy and Policy in the EU, noted that 50 days after the rules came into full effect, the list of approved issuers includes:

• Banking Circle;
• Circle;
• Crypto.com;
• Fiat Republic;
• Membrane Finance;
• Quantoz Payments;
• Schuman Financial;
• Societe Generale;
• StabIR;
• Stable Mint.

Five companies, in addition to euro-pegged stablecoins, have issued coins based on the US dollar.

Notably absent from the list is Tether, the issuer of USDT with a capitalization of $141.7 billion. In August 2024, the company’s CEO, Paolo Ardoino, criticized MiCA for creating a “systemic risk” not only for stablecoins but also for the banking system as a whole.

In November, Tether ceased support for its euro-pegged stablecoin EURT. In the EU, the firm decided to focus on supporting third-party projects like MiCA license holders Quantoz Payments and StablR, as well as promoting its RWA platform Hadron.

Circle, the issuer of USDC and a main competitor to USDT, secured the right to issue stablecoins in the EEA back in July.

Hansen remarked that MiCA is “slowly but surely becoming a reality.”

“Without a license, passporting services in 30 EEA countries is impossible — that’s why everyone is rushing to capture market share in the region,” he emphasized.

The list of MiCA-authorized crypto-asset service providers (CASP) includes 11 companies.

Earlier in February, the bitcoin exchange OKX obtained a license and legalized its operations in Europe.