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Deutsche Börse Taps Circle to Launch Stablecoins in EU Markets
Key Takeaways
- Deutsche Börse signed an MoU with Circle to bring EURC and USDC into its trading, custody, and settlement services in Europe;
- Stablecoin use will start on 3DX and Crypto Finance, with Clearstream managing custody and Crypto Finance as sub-custodian;
- Backed by EU’s MiCA rules, the deal aims to cut settlement risks, lower costs, and ease digital token use for major financial players.
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
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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.