EU banking watchdog classifies USDC as first significant e-money token
The EBA says USDC will enter dual supervision from November, marking a milestone for regulated stablecoins in the bloc.
A new classification
The European Banking Authority classified USDC, issued in the EU by Circle Internet Financial Europe SAS, as the Union’s first significant e-money token under MiCA on 14 October 2026.
What changes in November
From 12 November 2026, EBA assumes direct oversight for specified prudential matters such as reserves, liquidity, own funds, recovery and redemption planning. The French ACPR continues to supervise other areas, including governance.
Why it matters
The designation highlights the growing importance of stablecoins in European digital payments and the higher level of supervision envisaged for tokens deemed significant.
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Information reflects publicly available material as of 28 October 2026. It is not legal or financial advice.