Circle's USDC has become the first stablecoin in the European Union to receive significant e-money token status under the Markets in Crypto-Assets Regulation (MiCA), following an assessment by the European Banking Authority (EBA).
The designation is historic among the 45 e-money tokens currently notified under MiCA. USDC's new regulatory classification will trigger a shift in supervisory responsibilities beginning November 12, 2026, when the EBA assumes direct oversight of capital requirements, asset reserves, liquidity management, and recovery and redemption plans—areas previously supervised by France's banking regulator, the ACPR.
The ACPR will continue to oversee governance, major shareholdings, management suitability, outsourcing arrangements, and conflicts of interest. Both regulators will coordinate during the transition period. Circle operates USDC issuance through separate entities in the EU and United States.
The regulatory milestone comes as the EBA has signed a memorandum of understanding with the New York State Department of Financial Services to enhance cooperation on cross-border stablecoin activities.
Expansion Momentum
USDC continues to expand institutional adoption and user accessibility. BNY Mellon has integrated USDC into its Digital Asset Custody platform, enabling institutional clients to hold, transfer, mint, and redeem the stablecoin. The bank serves as the primary custodian of USDC reserves.
Binance has committed to a five-year agreement with Circle alongside a $100 million investment in the stablecoin issuer, aiming to expand USDC availability to its 240 million users. Samsung announced plans to bring USDC transfers to Samsung Wallet for eligible Galaxy users in the United States, with the rollout expected in late October 2026. The service will enable transfers to compatible crypto wallets and bank accounts in over 60 countries.
