Deutsche Börse Welcomes Circle’s USDC and EURC Stablecoins

Deutsche Börse has entered into a collaboration with Circle to list EURC and USDC across its trading and custody services, marking a milestone for a major European exchange group under the EU’s MiCA regulatory framework.

A press release dated Sept. 30 revealed that Deutsche Börse Group has signed a memorandum of understanding with Circle Internet Group, aimed at incorporating the issuer’s EURC and USDC stablecoins into its financial-market infrastructure.

The initiative will begin with the listing and trading on 360T’s digital exchange, 3DX, and will also include the provision of institutional-grade custody through Deutsche Börse’s post-trade giant, Clearstream.

Regulation Paves the Way for Stablecoin Entry into Europe’s Core Market

As noted in the announcement, the collaboration is based on the EU’s Markets in Crypto-Assets Regulation, or MiCA, which came fully into effect in late 2024. MiCA created the first comprehensive rulebook for crypto assets in Europe, establishing requirements for reserves, disclosure, and licensing that help distinguish compliant issuers from those that do not comply.

Circle, the issuer of USDC, was the first global stablecoin company to declare full compliance, positioning itself as a frontrunner in Europe’s strictly regulated market environment.

“With clear regulations taking shape throughout Europe, aligning our regulated stablecoins, EURC and USDC, with reputable venues will unlock new products and streamline trading, settlement, and custody workflows,” stated Circle CEO Jeremy Allaire.

Allaire emphasized that regulated stablecoins can minimize settlement risk, reduce costs, and facilitate smoother operations for banks, asset managers, and other market players. He believes that integrating EURC and USDC into Deutsche Börse’s infrastructure can illustrate how tokenized cash instruments can provide efficiencies that traditional systems have struggled to achieve.

For Deutsche Börse, this partnership signifies more than just an experiment. Thomas Book, member of the Executive Board of Deutsche Börse Group responsible for Trading & Clearing, mentioned that the collaboration with Circle sets the groundwork for a market structure where tokenized payments and traditional assets can coexist effortlessly.

He highlighted the group’s distinctive position to bridge both worlds, taking advantage of its entire value chain—from the 3DX trading platform to Clearstream’s custody services—to create a regulated and liquid environment suitable for both established financial institutions and new market entrants.