Don't miss out - BYDFi new user bonus is now LIVE! Join BYDFi & unlock up to $2,000 in rewards. Claim Bonus! 🎁
Key Takeaways
Don't miss out - BYDFi new user bonus is now LIVE! Join BYDFi & unlock up to $2,000 in rewards. Claim Bonus! 🎁
Deutsche Börse, the German exchange group, has reached an agreement with Circle to start using its stablecoins in European markets.
The two companies signed a memorandum of understanding that outlines how these digital currencies will be introduced into the group’s services.
The plan includes both Circle’s EURC and USDC
Did you know?
Subscribe - We publish new crypto explainer videos every week!
How Can You Earn Money With Axie Infinity? (AXS Animated Explainer)
Clearstream, Deutsche Börse’s post-trade arm, is expected to handle custody. Crypto Finance will support the process by acting as a sub-custodian.
This setup is designed to help large investors and institutions use stablecoins without altering their existing workflows with established market platforms.
The decision is closely tied to the European Union’s Markets in Crypto-Assets Regulation (MiCA), which became fully effective at the end of 2024. Circle and Deutsche Börse said they can build a safer and more reliable way for banks, asset managers, and others to use digital tokens.
Circle’s CEO, Jeremy Allaire, explained that the goal is to use regulated stablecoins to cut settlement risks, reduce costs, and make financial operations smoother for banks, asset managers, and other institutions.
He also stated that with stable rules in place, tying Circle’s stablecoins to trusted platforms can facilitate the development of new products and streamline trading, settlement, and custody.
Meanwhile, Visa recently started a pilot program that lets banks pre-fund cross-border transfers with USDC and EURC. What did Chris Newkirk say about it? Read the full story.
To ensure the highest level of accuracy & most up-to-date information, BitDegree.org is regularly audited & fact-checked by following strict editorial guidelines & review methodology.
Carefully selected industry experts contribute their real-life experience & expertise to BitDegree's content. Our extensive Web3 Expert Network is compiled of professionals from leading companies, research organizations and academia.