Most EU stablecoin issuers can't custody their own token on behalf of customers 🇪🇺 What's interesting about the list of MiCA-compliant stablecoin issuers (see attached) is that while by now ~23 issuers are authorized e-money token issuers in the EU, only 9 of those are also authorized to provide crypto-asset services. This means that only 9 of these 23 issuers can also provide custody and transfer services in relation to the stablecoins they issue (+ sometimes additional services like exchange). The other 14 issuers can "only" mint and burn directly to/from customer wallets. Not hold stablecoins on their customers' behalf, not send stablecoins on their customers' behalf. It very much limits the services you can provide as an issuer. At @circle , we obtained the necessary CASP approval under the MiCA Art. 60 notification process and can serve institutional clients who need custody or payout services in relation to USDC, the largest USD-stablecoin and EURC, the largest EUR-stablecoin issued in the EU. I am surprised not more EMT-issuers have taken this step. Here is a list of the 9 EU stablecoin issuers that can also provide (some) crypto-asset services - ESMA's MiCA interim register is the source: Circle Société Générale - Forge CACEIS Bank Banking Circle Bridge Fiat Republic Newrails Blue EMI Stable Mint

A few weeks after we received final OCC approval to establish a National Trust Bank, @circle has now also received a limited purpose trust charter from the New York Department of Financial Services (NYDFS) 🇺🇸 Another major regulatory milestone! Huge congrats to all colleagues involved! More details:

Just in - @circle received final OCC approval to establish a National Trust Bank 🇺🇸 Circle received approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank, N.A., a national trust bank. The bank will operate under the name Circle National Trust, placed under direct federal oversight by the primary U.S. regulator for national banks and national trust banks. Upon opening, Circle National Trust will offer fiduciary digital asset custody services for Circle and its affiliates. The charter is also designed to enable future capabilities, including management of the USDC Reserve, which would bring those operations under federal regulatory oversight and further enhance the safety, transparency, and trust of USDC. This represents a major U.S. regulatory milestone - huge congrats to all the colleagues involved! More details in our press release 👇