The second-largest stablecoin by market cap will be overseen by French and EU authorities under its classification as a “significant e-money token.“ The European Banking Authority (EBA) has classified Circle’s USDC stablecoin as a significant e-money token under the region’s Markets in Crypto Assets (MiCA) framework. In a Wednesday notice, the banking regulator said the e-money token classification, granted to only 45 other projects, effectively means the USDC stablecoin will be jointly overseen by the EBA and France’s supervisory authority, the Autorité de Contrôle Prudentiel et de Résolution. The stablecoin is the second largest by market capitalization, at $73 billion compared to Tether USDt’s $184 billion. The “significant“ classification came as many EU-based token issuers pushed for regulated US dollar-pegged stablecoins in the region. Stable Mint CEO James Bennett told Cointelegraph that while Europe couldn’t “wish away“ dollar stablecoins, regulators could control safeguards and rules for issuers. Re...
Eligible US Galaxy will be able to send USDC to crypto wallets and transfer funds to bank accounts in more than 60 countries. Samsung plans to introduce USDC transfers to the Samsung Wallet payment app for eligible US Galaxy users in the last week of October. The company announced that the feature will let users send USDC to compatible crypto wallets internationally and transfer money to eligible bank accounts in more than 60 countries, where recipients can receive funds in their local currency. Samsung said the feature will be available on 82 million compatible Galaxy devices in the US, but users must complete identity verification to access the service. Read more
The partnership with SAP-backed Tereina will let businesses send and receive Circle’s stablecoins from within the financial software they already use. Circle is bringing its USDC and EURC stablecoins into enterprise payment workflows through a partnership with Tereina, a financial services company backed by German enterprise software giant SAP. The integration will allow businesses using SAP’s financial software to send and receive USDC and EURC within the applications they already use to manage payments. USDC will be the preferred stablecoin for dollar-denominated transactions, while EURC will be available for euro-denominated payments. Source: Circle Read more
Circle sold Binance $100 million in stock and agreed to pay monthly incentives under an expanded five-year partnership promoting USDC. Binance has invested $100 million in stablecoin issuer Circle as part of an expanded five-year agreement to promote USDC on the crypto exchange. Circle issued Binance 1,237,011 shares of its Class A common stock at $80.84 per share in a private placement on Sept. 17, according to a Tuesday filing with the US Securities and Exchange Commission. The purchase price reflected a discount to Circle’s market price before the transaction closed. New York Stock Exchange-traded CRCL shares were up more than 1.3% in Tuesday’s premarket activity after closing Monday at $94.29 apiece, according to Yahoo Finance data. Read more
Circle’s Arc mainnet is live with USDC for transaction fees, support for more than 20 fiat stablecoins and links to over 20 blockchains. USDC issuer Circle has launched the mainnet of Arc, a layer-1 (L1) blockchain targeting stablecoin payments and financial markets, particularly agentic transactions. Arc uses USDC as its native gas asset and offers Ethereum Virtual Machine (EVM) compatibility and deterministic sub-second settlement finality, according to an Arc blog post on Wednesday. The network supports more than 20 fiat stablecoins, including USDC, EURC, JPYC, KRW1 and TRYB, while tokenized assets including BlackRock’s BUIDL and Circle’s USYC are available natively on Arc. Arc also offers interoperability with more than 20 blockchains through Circle’s Cross-Chain Transfer Protocol (CCTP) and Gateway. Read more