MiCA-Licensed Banking Circle Joins Europe's Bank Stablecoin Settlement Race

The European Union’s Markets in Crypto-Assets Regulation, or MiCA, establishes uniform rules for stablecoin issuance, reserves and service providers. Circle’s USDC and EURC are pegged to the U.S. dollar and euro, respectively. In July 2024, the company became the first global stablecoin issuer to comply with MiCA after securing electronic money institution status in France. Its new crypto-asset service provider authorization completes the regulatory framework for offering custody and transfer services.

France’s Financial Markets Authority, or AMF, authorized Circle Internet Financial Europe SAS to provide crypto-asset services on April 20, 2026, and Circle announced the approval on May 4. Under Article 60 of MiCA, the company may provide custody and transfer services for USDC and EURC across the European Economic Area. The approval completes Circle’s preparations before the EU transition period fully expires on July 1.

The EU's Markets in Crypto-Assets Regulation, or MiCA, became fully applicable on December 30, 2024, establishing a harmonized framework for crypto-asset services. ClearBank Europe obtained a Dutch banking license in August 2024. The group serves more than 270 institutional clients and holds £18 billion in client deposits, and its adoption of stablecoins marks a further step toward linking traditional clearing banks with blockchain-based payments.

On April 9, 2026, the Dutch Authority for the Financial Markets confirmed that ClearBank Europe had completed its MiCAR notification, making it the first credit institution in the Netherlands to obtain crypto-asset service provider status. The bank will connect to Circle Mint, enabling institutional clients to convert euros and U.S. dollars into EURC and USDC and vice versa for cross-border payments and settlement. No investment amount or launch date was disclosed.