USDC becomes EU's first 'significant' stablecoin under MiCA
- —EBA takes over oversight of USDC reserves, capital and recovery plans from November 12
- —Significant issuers must hold 60% of reserves in EU bank cash versus 30% for others
- —Circle partners received $819 million of $1.4 billion in H1 revenue
- —Circle plans expansion into about 50 emerging markets backed by a $100 million Binance stake
Why it matters: The EU's first 'significant' stablecoin sets a supervisory benchmark for the market and pressures issuer economics.
Source: CoinGeek