EU Grants MiCA Licenses to 53 Crypto Institutions

The European Union recently issued MiCA licenses to 53 institutions, allowing them seamless operations across the European Economic Area without reapplying separately for each country.

These licenses cover notable entities like Circle, Crypto.com, and Société Générale. The capacity to operate in 30 countries offers substantial strategic advantages for these companies.

EU Issues MiCA Licenses to 53 Crypto Entities

With this new license, authorized firms can issue stablecoins and electronic money tokens, significantly impacting their market reach in the EEA. However, certain major players such as Tether and Binance are not listed among those granted licenses, potentially affecting their regional influence. The inclusion of stablecoin giants like Circle signals a shift in regulatory compliance.

Market reactions varied significantly. According to a statement from Circle’s Director of EU Strategy and Policy, Patrick Hansen, the opportunity for these companies to expand without individual applications is a “significant development“. Such credibility has already prompted reactions from the industry, signaling new potential growth areas in compliant stablecoins and related services.

Patrick Hansen, Director of EU Strategy and Policy, Circle, – “The first batch of MiCA licenses in Europe is out. 53 institutions, including Circle, have received authorization allowing us to operate across all 30 EEA countries without individual applications.”

Market Impact and Industry Reactions

Did you know? The licensing by the EU under MiCA for cross-border operations can be likened to previous regulatory frameworks, such as Singapore’s robust crypto licensing, which also dramatically reshaped market influences.

According to CoinMarketCap, USDC’s market cap reached $62.02 billion, with a steady 1.86% dominance. Despite minor changes such as a 0.01% increase over 24 hours, the coin remains stable. Its volume surged by 61.70% in the same period, highlighting the market’s interest.

The Coincu research team highlights potential financial benefits of MiCA licensing, expecting increased investment flows into compliant entities. By fostering regulatory clarity, these licenses could facilitate enhanced technological infrastructure, paving the way for innovative crypto services across the EEA.