Almost 1.5 years after the EU began enforcing MiCA rules for stablecoins, the region has made major progress. It now has one of the most structured and transparent digital money frameworks in the world.
Regulated operators are expanding across the continent, new currencies are joining the market, and confidence in compliant digital money is growing. The latest numbers offer a clear view of how the landscape is maturing.
The Rise of Licensed Issuers Across Europe
The heart of MiCA is simple. It sets clear rules for stablecoins, also known in EU law as electronic money tokens or EMTs. These are digital coins backed by one real-world currency, such as euros or dollars. Because the rules are strict, only approved companies can issue them. Today, the EU counts 17 authorised EMT issuers from 10 different countries. France leads with three regulated issuers. Germany, Finland, Denmark, the Czech Republic and Poland each have one. Malta, the Netherlands, Lithuania and Luxembourg have two each.
🇪🇺 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… pic.twitter.com/HUPDSS7HVQ
— Patrick Hansen (@paddi_hansen) November 21, 2025
These firms currently offer 25 approved EMTs backed by single fiat currencies. 14 are tied to the euro, and nine are tied to the dollar. The remaining two include one backed by the Czech koruna and one backed by the British pound. The growth shows strong demand for simple and trusted digital money that can move across borders at internet speed. It also reflects a shift among traditional financial companies that are now entering the stablecoin market through regulated paths.
The Missing Category in MiCA’s Framework
A real-world example comes from Circle, which now issues the EU’s largest regulated euro and dollar stablecoins. Businesses across Europe use these tokens for faster payments, onchain settlement and cross-border commerce. This trend shows how compliant digital money is moving from a niche crypto product into a tool for mainstream finance.
EURC, @circle‘s euro stablecoin, is now on Aave’s @base market.
Users can borrow or use EURC as collateral. pic.twitter.com/VrbmLTxuTQ
— Aave (@aave) March 12, 2025
One surprising detail is the absence of authorised asset-referenced tokens. These tokens would be backed by baskets of currencies or by things such as gold. They make up a large part of MiCA’s legal text but have seen no activity so far. This may be due to the higher regulatory burden and the lack of early demand. It may also reflect the industry’s current preference for simple one-currency stablecoins that are easier for users to understand and trust.
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The post 17 Authorized Stablecoin Issuers Mark Europe’s MiCA Expansion appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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