MiCA in Full Swing: 6-Month Milestone
Europe’s Markets in Crypto-Assets (MiCA) regulation is already reshaping the crypto industry across the continent. With 6 months of application for Crypto-Asset Service Providers (CASPs) and 12 months for e-money token (EMT) issuers, we now have a clearer picture of the compliant players in the European market.
Letโs break down the key highlights from the latest July snapshot.
14 MiCA-Authorized Stablecoin Issuers
Fourteen companies have officially received authorization to issue e-money tokens under MiCA โ Europeโs regulated version of fiat-backed stablecoins. These come from 7 EU countries:
- ๐ซ๐ท France (3)
- ๐ฉ๐ช Germany (1)
- ๐ฒ๐น Malta (3)
- ๐ณ๐ฑ Netherlands (3)
- ๐จ๐ฟ Czech Republic (1)
- ๐ซ๐ฎ Finland (1)
- ๐ฑ๐น Lithuania (1)
๐น A total of 20 EMTs are now live under MiCA:
- 12 are euro-denominated (e.g., EURC, EURAU, EURI, etc.)
- 7 are dollar-denominated (e.g., USDC, USD1, USDG)
- 1 is Czech koruna-denominated (CZKI)
Hereโs the full list of authorized EMT issuers:
Company | Country | EMTs Issued |
---|---|---|
AllUnity | ๐ฉ๐ช Germany | EURAU |
Ambr Payments | ๐ฑ๐น Lithuania | โ |
Banking Circle | ๐ฑ๐บ Luxembourg | EURI |
Circle | ๐ซ๐ท France | EURC, USDC |
Crypto.com / 1S1C | ๐ฒ๐น Malta | USD1 |
Eurodollar ApS | ๐ฉ๐ฐ Denmark | โ |
Fiat Republic | ๐ณ๐ฑ Netherlands | ENEUR |
Membrane Finance / Paxos | ๐ซ๐ฎ Finland | EURe, eUSD, USDG |
Payment Corporation SE | ๐จ๐ฟ Czech Republic | CZKI |
Quantoz Payments | ๐ณ๐ฑ Netherlands | EURD, EURQ, USDQ |
Schuman Financial | ๐ซ๐ท France | EURรP |
Sociรฉtรฉ Gรฉnรฉrale โ Forge | ๐ซ๐ท France | EURCV, USDCV |
StablR Ltd | ๐ฒ๐น Malta | EURR, USDR |
Stable Mint | ๐ฒ๐น Malta | EURSM, USDSM |
ย
39 Licensed Crypto-Asset Service Providers (CASPs)
MiCA has also greenlit 39 CASPs across 9 countries in the EU/EEA:
- ๐ฉ๐ช Germany (12)
- ๐ณ๐ฑ Netherlands (11)
- ๐ฒ๐น Malta (5)
- ๐ซ๐ท France (3)
- ๐ฑ๐บ Luxembourg (3)
- ๐ฆ๐น Austria (2)
- ๐จ๐พ Cyprus (1)
- ๐ช๐ธ Spain (1)
- ๐ฎ๐ช Ireland (1)
These companies range from traditional finance giants to fintech disruptors and crypto-native exchanges:
TradFi examples:
Fintech examples:
- N26
- Trade Republic
- eToro
- Robinhood
Crypto-native examples:
- Coinbase
- Kraken
- Bitpanda
- OKX
- Bitstamp
Other Insights and Trends
- Still 0 authorized ART issuers (asset-referenced tokens), signaling minimal current demand.
- ~30 whitepapers have been filed under MiCA Title II, mostly for assets like BTC and ETH.
- Transition periods have ended in ๐ณ๐ฑ Netherlands, ๐ต๐ฑ Poland, ๐ญ๐บ Hungary, ๐ฑ๐ป Latvia, ๐ธ๐ฎ Slovenia, ๐ซ๐ฎ Finland, with Dutch AFM taking the lead in license issuance.
- 35+ CASPs have been flagged as non-compliant, mostly by Italian regulator CONSOB.
Source: https://cryptoticker.io/en/mica-stablecoin-casp-authorized-list-july-2025/