Which stablecoins are MiCA-compliant? The full EMT issuer list
As of 30 October 2026, 25 companies are authorised to issue stablecoins in the EU, formally called e-money tokens (EMT) under the MiCA regulation. The best-known MiCA-compliant stablecoins are USDC and EURC (Circle), USDG (Paxos) and EURCV (Société Générale). Tether's USDT is not on the list. Source: the official ESMA register of EMT white papers.
MiCA stablecoin list: every authorised EMT issuer
MiCA e-money token (stablecoin) issuer list compiled from the official ESMA register and verified by CASP Tracker on 30 October 2026.
France
ACPR Issuers: 6 FranceCircle
Circle Internet Financial Europe SAS
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
circle.comLegal Entity Identifier (LEI)
969500OYUDADGZKCR583 Registered address
4 Rue de Marivaux 75002 Paris
Notified white papers (2)
Digital Token Identifiers (DTI) (42)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
FranceSociété Générale Forge
Société Générale - Forge
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
sgforge.comLegal Entity Identifier (LEI)
969500FX8K40ZDW4F377 Registered address
17 Cours Valmy 92800 Puteaux
Notified white papers (2)
Digital Token Identifiers (DTI) (8)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
FranceSchuman Financial (SALVUS)
SALVUS
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
schuman.ioLegal Entity Identifier (LEI)
969500SGAEBRXYUAJ739 Registered address
9 Rue du Quatre Septembre, 75002 PARIS
Notified white papers (1)
Digital Token Identifiers (DTI) (3)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
FranceOddo BHF
Oddo BHF SCA
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
oddo-bhf.comLegal Entity Identifier (LEI)
9695002I9DJHZ3449O66 Registered address
12 boulevard de la Madeleine 75009 PARIS
Notified white papers (1)
Digital Token Identifiers (DTI) (2)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
FranceOuiTrust
HEURO SAS
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
heuro.comLegal Entity Identifier (LEI)
984500DB91E5A48E7F26 Registered address
1 rue de la bourse, 75002 Paris - France
Notified white papers (1)
Digital Token Identifiers (DTI) (3)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
FranceCACEIS BANK
CACEIS BANK SA
Regulator
ACPR
E-money/bank licence since
First white paper
Last register sync
Official domain link
caceis.comLegal Entity Identifier (LEI)
96950023SCR9X9F3L662 Registered address
89-91 rue Gabriel Peri 92120 Montrouge
Notified white papers (1)
Digital Token Identifiers (DTI) (2)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Luxembourg
CSSF Issuers: 3 LuxembourgBanking Circle
Banking Circle S.A.
Regulator
CSSF
E-money/bank licence since
First white paper
Last register sync
–
Official domain link
bankingcircle.comLegal Entity Identifier (LEI)
213800W1NGBLERUS6M39 Registered address
2 Boulevard de la Foire, L-1528 Luxembourg
LuxembourgAIEU Services Limited S.A.
Regulator
CSSF
E-money/bank licence since
First white paper
Last register sync
Official domain link
bettrsettlementtoken.comLegal Entity Identifier (LEI)
254900VUR90QF0G3T387 Registered address
9, rue du Laboratoire, L-1911 Luxembourg, Grand Duchy of Luxembourg
Notified white papers (2)
LuxembourgBridge Building S.A.
Regulator
CSSF
E-money/bank licence since
First white paper
Last register sync
Official domain link
bridge.xyzLegal Entity Identifier (LEI)
254900MVWQXMF77YZP65 Registered address
33, Boulevard Prince Henri, 1724 Luxembourg, Grand Duchy of Luxembourg
Notified white papers (1)
Digital Token Identifiers (DTI) (9)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Netherlands
DNB Issuers: 3 NetherlandsFiat Republic
Fiat Republic Netherlands
Regulator
DNB
E-money/bank licence since
First white paper
Last register sync
Official domain link
fiatrepublic.comLegal Entity Identifier (LEI)
724500GVWT7QULV8CR59 Registered address
Strawinskylaan 4117 - room 05-116 - 1077 ZX - Amsterdam
Notified white papers (3)
Also holds a CASP license: open it in the license list NetherlandsQuantoz Payments
Quantoz Payments B.V
Regulator
DNB
E-money/bank licence since
First white paper
Last register sync
Official domain link
quantoz.comLegal Entity Identifier (LEI)
7245008P1HPUPVM7XL94 Registered address
Europalaan 100 - 3526 KS Utrecht
Notified white papers (6)
NetherlandsAplauz
Aplauz NL B.V.
Regulator
DNB
E-money/bank licence since
–
First white paper
Last register sync
Official domain link
weur.ioLegal Entity Identifier (LEI)
72450039GAIN4MNI4V12 Registered address
Keizersgracht 555 - 1017DR Amsterdam
Notified white papers (1)
Lithuania
LSC Issuers: 2 LithuaniaBLUE EMI LT
UAB BLUE EMI LT
Regulator
LSC
E-money/bank licence since
First white paper
Last register sync
Official domain link
blueemi.comLegal Entity Identifier (LEI)
254900XFMACGD0L7AI73 Registered address
Žalgirio str. 92, LT-09303, Vilnius, Republic of Lithuania
LithuaniaNewrails
Newrails, UAB
Regulator
Bank of Lithuania
E-money/bank licence since
First white paper
Last register sync
Official domain link
newrails.xyzLegal Entity Identifier (LEI)
875500AX7AO0XVYSQD64 Registered address
Kauno str. 16-305, LT 03212. Vilnius
Notified white papers (1)
Malta
Malta Financial Services Authority Issuers: 2 MaltaStable mint
Stable mint Ltd
Regulator
Malta Financial Services Authority
E-money/bank licence since
First white paper
Last register sync
Official domain link
stablemint.ioLegal Entity Identifier (LEI)
984500A64C0EA64BC554 Registered address
Trident Park notabile gardens no 2 level 3, Central business district, Birkirkara, Malta
Notified white papers (2)
Also holds a CASP license: open it in the license list MaltaStablR Ltd
Regulator
Malta Financial Services Authority
E-money/bank licence since
First white paper
Last register sync
Official domain link
stablr.comLegal Entity Identifier (LEI)
984500AA0OCA9CE0D796 Registered address
Level 1, BusinessLabs, Dun Karm Street, Birkirkara, Malta
Notified white papers (1)
Czechia
CNB Issuers: 1 CzechiaStable Labs
Payment Corporation SE
Regulator
CNB
E-money/bank licence since
First white paper
Last register sync
Official domain link
stablelabs.coLegal Entity Identifier (LEI)
315700IJDQF91J9C8B68 Registered address
Krizikova 710/30, Karlin, 18600 Prague 8, Czech Republic
Notified white papers (3)
Exemption (Article 48 MiCA). Issued under a MiCA Article 48 exemption: used only within a limited network, not offered to the general public
Denmark
Finanstilsynet Issuers: 1 DenmarkEurodollar
Eurodollar ApS
Regulator
Finanstilsynet
E-money/bank licence since
First white paper
Last register sync
–
Official domain link
eurodollar.fiLegal Entity Identifier (LEI)
8945001XWFMRUTCAK575 Registered address
Gammel Kongevej 120, 1. tv, KØBENHAVN ,DK
No white paper is listed in the register yet.
Finland
FIN-FSA Issuers: 1 FinlandPaxos EU
Paxos Issuance Europe Oy
Regulator
FIN-FSA
E-money/bank licence since
First white paper
Last register sync
Official domain link
paxos.comLegal Entity Identifier (LEI)
743700KYSSTKZYGEUF50 Registered address
Meritullinkatu 1 B 00170 HELSINKI
Notified white papers (4)
- EUROe
- eUSD
- Added the functionality to use USDG on X layer blockchain
- machine-readable version made available
Digital Token Identifiers (DTI) (2)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Germany
BaFin Issuers: 1 GermanyAllUnity GmbH
Regulator
BaFin
E-money/bank licence since
First white paper
Last register sync
Official domain link
allunity.comLegal Entity Identifier (LEI)
3912007G8L8CD3HFIV26 Registered address
Sandweg 94, 60316 Frankfurt am Main
Notified white papers (6)
Digital Token Identifiers (DTI) (23)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Iceland
Central Bank of Iceland Issuers: 1 IcelandMonerium
Monerium ehf
Regulator
Central Bank of Iceland
E-money/bank licence since
First white paper
Last register sync
Official domain link
monerium.comLegal Entity Identifier (LEI)
2549003QDNZWASSSCY31 Registered address
Bjargargotu 1
Notified white papers (1)
Digital Token Identifiers (DTI) (8)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Latvia
Latvijas Banka Issuers: 1 LatviaGR8.money
SIA GR8 PAY
Regulator
Latvijas Banka
E-money/bank licence since
First white paper
Last register sync
Official domain link
gr8.moneyLegal Entity Identifier (LEI)
6488GKH17O8XT1326F66 Registered address
Latvia, Malduguņu iela 2, Mārupe, Mārupes nov., LV-2167
Poland
KNF Issuers: 1 PolandStaBillon
StaBillon sp. z o.o.
Regulator
KNF
E-money/bank licence since
First white paper
Last register sync
Official domain link
stabillon.comLegal Entity Identifier (LEI)
2594008EL5UN8RIA8P23 Registered address
Atlas Tower Aleje Jerozolimskie 123A, 02-017 Warszawa - Poland
No white paper is listed in the register yet.
Portugal
BdP Issuers: 1 PortugalBISON BANK, S.A.
Regulator
BdP
E-money/bank licence since
First white paper
Last register sync
Official domain link
bisonbank.comLegal Entity Identifier (LEI)
549300V4H4USWZUCE073 Registered address
Rua Barata Salgueiro, 33, Piso 0, 1250-042 Lisboa
Notified white papers (2)
Digital Token Identifiers (DTI) (4)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
Slovenia
Bank of Slovenia Issuers: 1 SloveniaDinaro
DINARO company for electronic money issuing and payment services Ltd.
Regulator
Bank of Slovenia
E-money/bank licence since
First white paper
Last register sync
Official domain link
dinaro.siLegal Entity Identifier (LEI)
48510062OP64BYKPNO22 Registered address
Bravničarjeva ulica 13, 1000 Ljubljana, Slovenia
Notified white papers (1)
Digital Token Identifiers (DTI) (2)
Token group codes (FFG)
ISO 24165 codes identifying the token on each blockchain, as reported in the ESMA register.
The source register lists white papers, not tickers, so the token symbols above are hand-verified from each issuer's own documents. Issuers without a confirmed public ticker show a dash. One issuer (Stable Labs) uses the limited-network exemption and does not offer its tokens to the public.
What is an e-money token (EMT) under MiCA?
An e-money token is MiCA's legal name for a classic stablecoin: a crypto-asset that keeps a stable value by referencing exactly one official currency, such as the euro or the US dollar. Legally it works like electronic money in token form: the issuer must redeem it at any time, at face value, in that currency.
EMTs are regulated by Title IV of MiCA, applicable since 30 June 2024. Every EMT offered in the EU must have a notified white paper, and its issuer must appear in the ESMA register shown above. USDC, EURC and EURCV are EMTs. The category also covers non-euro tokens such as USDG.
Who can issue stablecoins in the EU?
Only two kinds of companies: authorised credit institutions (banks) or licensed electronic money institutions (EMIs). There is no separate “stablecoin license”: the issuer needs one of those two authorisations plus a white paper notified to its national regulator.
That is why the list above mixes crypto firms (Circle, Paxos, StablR) with banks (Société Générale, Oddo BHF, CACEIS, Banking Circle). It is also why Tether does not appear: it holds neither an EU e-money license nor an EU banking license.
Is USDT (Tether) MiCA-compliant?
No. Tether has not been authorised as an e-money token issuer in the EU and USDT has no notified MiCA white paper, so it does not appear in the ESMA register. As a result, MiCA-licensed exchanges cannot offer USDT to EU/EEA clients, and major exchanges delisted USDT spot pairs for EEA users in early 2025.
Holding USDT in a private wallet is not illegal for individuals, but on the EU's regulated market you will mostly see MiCA-compliant alternatives such as USDC or EURC. Check which platforms may legally serve you in the MiCA license list.
Is USDC MiCA-compliant?
Yes. Circle Internet Financial Europe SAS, a French e-money institution supervised by the ACPR, notified MiCA white papers for USDC and EURC on 1 July 2024, the day MiCA's stablecoin rules became applicable. Both tokens are in the ESMA register above, which makes USDC the largest MiCA-compliant stablecoin.
What is a significant e-money token?
MiCA lets the European Banking Authority (EBA) classify an EMT as “significant” once it crosses scale thresholds, for example more than 10 million holders or a reserve above €5 billion. Significant EMTs move under partial EBA supervision and stricter requirements. So far the EBA has not designated any EMT as significant.
EMT vs ART: what is the difference?
An EMT references one official currency. An asset-referenced token (ART) references a basket: several currencies, commodities such as gold, or crypto-assets. ARTs have their own, heavier MiCA regime, and so far no ART issuer has been authorised in the EU. Read the full explainer: what asset-referenced tokens (ART) are and why that register is empty.
FAQ about the MiCA stablecoin list
How many companies can legally issue stablecoins in the EU?
25 issuers are in the official ESMA register of e-money token (EMT) white papers as of 30 October 2026, covering 50 notified token white papers across euro, dollar and other currencies.
Is USDT banned in the EU?
Owning USDT is not banned, but Tether holds no EU authorisation as an EMT issuer, so USDT is not MiCA-compliant and MiCA-licensed exchanges cannot offer it to EU/EEA clients. Most major exchanges delisted USDT pairs for EEA users in early 2025.
Which euro stablecoins are MiCA-compliant?
The register includes euro tokens from Circle (EURC), Société Générale Forge (EURCV), Monerium (EURe), Banking Circle (EURI), StablR (EURR), Quantoz (EURQ), Schuman Financial (EURØP), Oddo BHF (EUROD), AllUnity (EURAU) and Paxos (EUROe), among others.
Do stablecoin issuers need a CASP license?
No. Issuing an e-money token requires an e-money or banking license plus a notified white paper, while a CASP license covers crypto services such as exchange and custody. They are separate registers, though 9 of the 25 current EMT issuers also hold a CASP license.
Is this the official ESMA stablecoin register?
The data is official, the page is not run by ESMA. Every entry comes from ESMA's interim MiCA register of EMT white papers, which we merge per issuer, enrich with hand-verified token tickers and re-verify against the source file. Last verified on 30 October 2026.
What happens to stablecoins that are not MiCA-compliant?
Exchanges and brokers licensed under MiCA must not offer them to EU/EEA clients, so non-compliant tokens gradually disappear from regulated European platforms. The token itself keeps existing on-chain. Only the regulated offering is restricted.
Check the exchange side of the register
All 389 crypto providers licensed under MiCA, searchable by name or website domain.
Open the MiCA license list