Patrick Hansen, Circle’s European Strategy Director, expects significant jumps in the EU cryptocurrency and stablecoin market by late 2025.
At the European Blockchain Conference in Barcelona, Hansen shared expectations for progress in the cryptocurrency market structure across the European Union. Block markets in crypto assets regulation, known as markets in crypto assets regulation, will be the main catalyst for this growth?
MiCA signaled a shift in regulatory strategy for cryptocurrencies in the European Union, providing comprehensive guidance to governments, institutions and investors regarding digital assets.
In fact, MiCA sets requirements for cryptocurrency exchanges and thresholds for stablecoin reserves. Circle (USDC) was one of the first stablecoin beneficiaries of this new system and received the inaugural MiCA stablecoin license.
MiCA compliance and final regulatory approval involve a different process than in other regions, Hansen revealed. For example, a USDC issuer coordinated with regulators for up to 24 months before obtaining approval.
The circle too Applied To obtain an electronic money institution license in France, which has been accepted by the Prudential Supervision and Resolution Authority, the French banking supervisory authority.
According to Hansen, the company’s euro-pegged stablecoin, EURC, has jumped 60-70% since July when the approval was issued. The token’s market cap now stands at over €67 million. Hansen expects EURC and other EU stablecoins to continue to grow, driven by MiCA rules.
We think that in the European Union, for our Euro stablecoin, but for Euro stablecoins in general, we can expect significant growth at least in the next 12 months.
Patrick Hansen, Senior Director of EU Strategy and Policy at Circle
While the USDC operator has strengthened its European foothold, CEO Jeremy Allaire has presented plans for a US IPO. The digital payment provider has moved its global headquarters to the heart of New York City as part of a roadmap to go public. Circle’s new office is located at One World Trade Center, alongside some of the biggest names on Wall Street like Goldman Sachs.
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