- The EBA classified USDC as a significant e-money token under MiCA, the first of the 45 EMTs notified in the EU to meet that threshold.
- From Nov. 12, the EBA takes direct responsibility for USDC's own funds, reserve assets, liquidity requirements, and recovery and redemption plans, while France's ACPR keeps governance and related areas.
- Circle plans to expand into about 50 emerging and developing markets, targeting Southeast Asia, Latin America and the Middle East.
- USDC has about $73 billion in circulation and roughly a quarter of the stablecoin market, while Tether's USDT holds nearly 60 percent.
- Circle's $400 million acquisition of Tazapay, its Arc blockchain and its federal trust bank approval are expected to support the expansion.
Quotes
“We're kind of going through an inflection point...a transition right now”
“and the innovators are having their day”