🇪🇺 MiCA Stablecoin Update: 17 Authorized Stablecoin (EMT) Issuers across the EU
Almost 1.5 years into MiCA’s application for stablecoins, Europe’s stablecoin (EMT) ecosystem continues to grow and mature — with more licensed issuers, more currencies, and wider geographic coverage. 🌍
📊 Current snapshot (November 2025):
→ 17 authorized EMT issuers
→ From 10 EU countries: 🇫🇷 (3), 🇩🇪 (1), 🇲🇹 (2), 🇳🇱 (2), 🇫🇮 (1), 🇩🇰 (1), 🇨🇿 (1), 🇱🇹 (2), 🇱🇺 (2), 🇵🇱 (1)
→ 25 authorized EMTs (single fiat-backed stablecoins):
• 14 EUR-denominated 💶
• 9 USD-denominated 💵
• 1 CZK-denominated 🇨🇿
• 1 GBP-denominated 🇬🇧
Interestingly, there are still zero (!) authorized Asset-Referenced Tokens (ARTs) under MiCA. ARTs — stablecoins backed by baskets of currencies/assets or single non-currency assets (e.g. gold) — account for roughly one-third of the MiCA framework (Titles III & IV), yet have seen no market uptake so far.
At @circle, 1.5 years after MiCA’s entry into force, we’re proud to issue Europe’s largest regulated EUR and USD stablecoins — setting the benchmark for trusted onchain e-money in the EU.
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