Circle Exec Expects Major EU Market Shift after MiCA

By the end of 2025, Patrick Hansen, Circle’s European strategy director, anticipated significant advancements in the European crypto and stablecoin economy

Hansen discussed his anticipations for developing the crypto market structure throughout the European Union at the European Blockchain Convention in Barcelona.

According to Hansen, the bloc’s Markets in Crypto-Assets Regulation, also known as the Markets in Crypto-Assets Regulation, would serve as the primary catalyst for this expansion during a panel titled “What is Going on Behind the Scenes – Post MiCA?”

MiCA signified a change in the EU’s crypto regulatory strategy by offering exhaustive guidelines concerning digital assets to governments, institutions, and investors.

MiCA established stablecoin reserve thresholds and requirements for crypto exchanges. Circle USDC was one of the first stablecoins to benefit from this new regime and was granted MiCA’s inaugural stablecoin license.

Hansen disclosed that the process of MiCA compliance and the subsequent regulatory approval was distinct from that of other regions. For example, the issuer of USDC coordinated with regulators for up to 24 months before receiving approval.

Circle also applied for its Electronic Money Institution license in France, which was approved by the Autorité de Contrôle Prudentiel et de Résolution, the French banking overseer.

Since July, when the sanction was granted, the firm’s euro-pegged stablecoin, EURC, has experienced a 60-70% increase, according to Hansen. The token’s market capitalization has now exceeded 67 million euros.

As a result of MiCA’s regulations, Hansen anticipates that EURC and other stablecoins will continue to expand in the EU.

CEO Jeremy Allaire advanced plans for an initial public offering in the United States as the USDC operator solidified its European foothold.

The digital payment provider relocated its global headquarters to the center of New York City as part of a roadmap to go public.

Circle’s new office is situated in the One World Trade Center, close to some of the most prominent names on Wall Street, including Goldman Sachs.