MiCA, Made Practical | Ep. 6 - Why Stablecoins in Europe Now Need a MiCA License and an EMI License

Оригинальный автор：ARI10

Первоисточник：https://www.youtube.com/embed/FNUNrBqxDcs

Stablecoins have become the backbone of cross-border transactions, settlement and on-chain liquidity - the market now exceeds $307 billion in capitalisation, and 2025 stablecoin transaction volume crossed $33 trillion, more than Visa and Mastercard combined. In the final episode of MiCA, Made Practical, Mateusz Bartoszewicz - MiCA Delivery Manager at ARI10 - explains why, under the latest EBA guidance, operating a fiat-pegged stablecoin in Europe now requires two licenses, not one. What you will learn: - How MiCA classifies stablecoins - e-money tokens (EMTs) pegged to a single currency, and asset-referenced tokens (ARTs) referencing a basket - and the reserve, redemption, audit and supervision rules for each - Why the EBA's interpretation treats fiat-pegged stablecoins as electronic money - meaning issuers need both MiCA authorization and an EMI license - What this looks like in practice: Circle securing EMI authorisation in France for USDC and EURC, while USDT has been systematically delisted from compliant EU venues - What to expect next - market consolidation around dual-licensed issuers, a rise of euro-denominated stablecoins (EURC, STASIS EURO, EUR CoinVertible), stronger user guarantees, and a widening gap between regulated and unregulated infrastructure ARI10 operates under MiCA as a licensed CASP through its holding group, providing the regulated transaction, custody and settlement layer businesses rely on. ARI10 is exploring opportunities to deliver stablecoin integration across cross-border settlement, e-commerce acceptance and treasury once the necessary regulatory approvals are secured - so clients can benefit from stablecoin infrastructure without navigating the licensing landscape themselves. If your business depends on stablecoin infrastructure, reach out to the ARI10 sales team to see how MiCA-licensed transaction, custody and settlement infrastructure can support your stablecoin use cases. Thank you for watching MiCA, Made Practical. Across six episodes we've covered crypto-asset purchases and custody, cross-border transactions, e-commerce acceptance, property purchases, the July 1st market consolidation, and the regulatory reality of stablecoins. Follow ARI10 for weekly MiCA and crypto updates. About the host: Mateusz Bartoszewicz is the MiCA Delivery Manager at ARI10, a Central European fintech operating since 2017. ARI10 processes 800,000+ monthly transactions across 17+ countries. Learn more: https://ari10.com English blog: https://ari10.com/en/blog Polish blog: https://ari10.com/pl/blog #MiCA #Stablecoins #EMI #EMT #EURC #CryptoCompliance #ARI10 #CASP #Fintech #EBA #CryptoRegulation #DigitalAssets #CryptoEurope #CEE #Crypto2026 The prices of crypto-assets are much more susceptible to sharp fluctuations than traditional financial assets. High price volatility can lead to sudden losses and unpredictable outcomes. Trading crypto-assets involves a high risk of capital loss. The owner of ARI10 is ARI10 Sp. z o.o. This content is for informational and educational purposes only. It does not constitute investment advice, a personal recommendation, an offer, or an invitation to buy or sell crypto-assets. Any references to past or future performance of a particular crypto-asset, index, or investment product are not and should not be regarded as a reliable indicator of future results.