{"slug":"mica-compliant-stablecoins","question":"Which stablecoins are MiCA-compliant — and which ones can I no longer buy in the EU?","answer":"Authorised under MiCA, and so available from EU-regulated providers: USDC, USDG, EURC, EURCV, EURI, EURE, USDCV, EURQ, EURAU, EURW, EURD.","shortAnswer":"Authorised under MiCA, and so available from EU-regulated providers: USDC, USDG, EURC, EURCV, EURI, EURE, USDCV, EURQ, EURAU, EURW, EURD. Not authorised — EU-regulated platforms may not sell them to EU customers: USDT (the largest stablecoin in the world), PYUSD, RLUSD, FDUSD. Without an issuer that could be authorised: USDS, DAI, GHO. Holding any of them in your own wallet is not prohibited.","asOf":"2026-10-11","faq":[{"q":"Is USDC MiCA-compliant?","a":"Yes. USDC and EURC are issued in the EU by Circle Internet Financial Europe SAS, an electronic money institution authorised in France, which makes them the most widely available dollar and euro stablecoins on EU-regulated platforms."},{"q":"Why is USDT not MiCA-compliant?","a":"Tether has not applied for authorisation as an EU e-money issuer. MiCA would require it to hold a large share of reserves in EU bank deposits and to meet EU redemption and disclosure rules. Without that, EU-regulated platforms may not offer USDT, and since ESMA’s opinion of 8 October 2026 they should wind down custody for EU clients as well, by 8 January 2027."},{"q":"What does \"no issuer to authorise\" mean for DAI, USDS and GHO?","a":"These coins are created by smart contracts against collateral, not issued by a company, so there is no entity that could hold an e-money licence. How EU platforms treat them is the platforms’ call; several major exchanges delisted DAI for EU customers along with USDT. On a DEX they remain available."},{"q":"How many of the stablecoins listed here are authorised?","a":"11 of 18. Status as researched on the date shown with each source; authorisations can be granted or withdrawn, and the issuer’s own disclosures and ESMA’s register have the final word."},{"q":"Which of them can I buy without KYC?","a":"12 of 18 can be bought on a DEX without identity verification. For the rest, the source does not state the secondary-market gate."},{"q":"Which is the largest?","a":"By size, USDT at $183.4B, followed by USDC at $72.7B and USDS at $7.0B. Size is not safety, but a larger product usually means a deeper market to sell into."}],"count":18,"rows":[{"ticker":"USDC","name":"USD Coin","issuer":"Circle","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$72,656,933,418 circulating","chains":"Ethereum / Hyperliquid L1 / Solana (+154)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.circle.com/circle-mint","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDC","json":"https://tokenbank.world/api/tokens/USDC"},{"ticker":"USDG","name":"Global Dollar","issuer":"Paxos (Global Dollar Network)","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$3,020,156,642 circulating","chains":"X Layer / Robinhood Chain / Solana (+5)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://paxos.com/mint-and-redeem","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDG","json":"https://tokenbank.world/api/tokens/USDG"},{"ticker":"EURC","name":"EURC","issuer":"Circle","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$561,074,693 circulating","chains":"Ethereum / Solana / Base (+10)","country":"Euro area","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.circle.com/circle-mint","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/EURC","json":"https://tokenbank.world/api/tokens/EURC"},{"ticker":"EURCV","name":"EUR CoinVertible","issuer":"Societe Generale FORGE (SG-FORGE)","category":"Payment Stablecoins","yield":"0% (settlement asset)","yieldPct":null,"yieldKind":"none","minimumUsd":0,"size":"EUR 138.7m in circulation","chains":"Ethereum","country":"France (EU, ACPR-supervised issuer)","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":"0x5F7827FDeb7c20b443265Fc2F40845B715385Ff2","source":"https://eth.blockscout.com/token/0x5F7827FDeb7c20b443265Fc2F40845B715385Ff2","lastVerified":"2026-09-09","tier":"curated","page":"https://tokenbank.world/token/EURCV","json":"https://tokenbank.world/api/tokens/EURCV"},{"ticker":"EURI","name":"Eurite","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$41,837,151 circulating","chains":"Ethereum / BSC","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURI","json":"https://tokenbank.world/api/tokens/EURI"},{"ticker":"EURE","name":"Monerium EUR emoney","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$35,400,051 circulating","chains":"Gnosis / Arbitrum / Ethereum (+6)","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURE","json":"https://tokenbank.world/api/tokens/EURE"},{"ticker":"USDCV","name":"USD CoinVertible","issuer":"Societe Generale FORGE (SG-FORGE)","category":"Payment Stablecoins","yield":"0% (settlement asset)","yieldPct":null,"yieldKind":"none","minimumUsd":0,"size":"$10.6m in circulation","chains":"Ethereum","country":"France (EU, ACPR-supervised issuer)","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":"0x5422374B27757da72d5265cC745ea906E0446634","source":"https://eth.blockscout.com/token/0x5422374B27757da72d5265cC745ea906E0446634","lastVerified":"2026-09-09","tier":"curated","page":"https://tokenbank.world/token/USDCV","json":"https://tokenbank.world/api/tokens/USDCV"},{"ticker":"EURQ","name":"Quantoz EURQ","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$10,512,822 circulating","chains":"Ethereum / Polygon / XRPL (+1)","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURQ","json":"https://tokenbank.world/api/tokens/EURQ"},{"ticker":"EURAU","name":"AllUnity EUR","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$498,891 circulating","chains":"Ethereum / Base / Tempo (+2)","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURAU","json":"https://tokenbank.world/api/tokens/EURAU"},{"ticker":"EURW","name":"Newrails Euro","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$391,363 circulating","chains":"Monad","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURW","json":"https://tokenbank.world/api/tokens/EURW"},{"ticker":"EURD","name":"Quantoz EURD","issuer":null,"category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$2,328 circulating","chains":"Algorand","country":"Euro area","kycSecondary":"unknown","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":null,"lastVerified":null,"tier":"imported","page":"https://tokenbank.world/token/EURD","json":"https://tokenbank.world/api/tokens/EURD"},{"ticker":"USDT","name":"Tether","issuer":"Tether","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$183,360,958,165 circulating","chains":"Tron / Ethereum / BSC (+127)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://tether.to/en/fees/","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDT","json":"https://tokenbank.world/api/tokens/USDT"},{"ticker":"PYUSD","name":"PayPal USD","issuer":"Paxos (for PayPal)","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$2,824,109,231 circulating","chains":"Ethereum / Solana / Arbitrum (+16)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://paxos.com/mint-and-redeem","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/PYUSD","json":"https://tokenbank.world/api/tokens/PYUSD"},{"ticker":"RLUSD","name":"Ripple USD","issuer":"Ripple","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$2,433,135,952 circulating","chains":"Ethereum / XRPL","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://docs.ripple.com/products/stablecoin/overview/rlusd","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/RLUSD","json":"https://tokenbank.world/api/tokens/RLUSD"},{"ticker":"FDUSD","name":"First Digital USD","issuer":"First Digital","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$315,123,934 circulating","chains":"Ethereum / BSC / Sui (+3)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.firstdigitallabs.com/get-in-touch","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/FDUSD","json":"https://tokenbank.world/api/tokens/FDUSD"},{"ticker":"USDS","name":"Sky Dollar","issuer":"Sky (formerly MakerDAO)","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$7,039,445,103 circulating","chains":"Ethereum / Solana / Base (+4)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://sky.money/","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDS","json":"https://tokenbank.world/api/tokens/USDS"},{"ticker":"DAI","name":"Dai","issuer":"Sky (formerly MakerDAO)","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$4,742,901,604 circulating","chains":"Ethereum / Polygon / Fantom (+46)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://sky.money/","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/DAI","json":"https://tokenbank.world/api/tokens/DAI"},{"ticker":"GHO","name":"GHO","issuer":"Aave","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$697,843,649 circulating","chains":"Ethereum / Monad","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://aave.com/docs","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/GHO","json":"https://tokenbank.world/api/tokens/GHO"}],"programs":[],"underlyings":[],"sources":[{"label":"ESMA: interim MiCA register — e-money token issuers (read by TokenBank, see /markets/european-union)","url":"https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica"},{"label":"ESMA: supervisory expectations on services related to unauthorised stablecoins (8 October 2026)","url":"https://www.esma.europa.eu/press-news/esma-news/esma-sets-out-supervisory-expectations-services-related-unauthorised"},{"label":"MiCA — Regulation (EU) 2023/1114 (EUR-Lex)","url":"https://eur-lex.europa.eu/eli/reg/2023/1114/oj"},{"label":"Circle: USDC and EURC under MiCA","url":"https://www.circle.com/en/pressroom/circle-is-first-global-stablecoin-issuer-to-comply-with-mica-eus-landmark-crypto-law"},{"label":"Paxos: Global Dollar (USDG) launches in the EU","url":"https://www.paxos.com/newsroom/global-dollar-(usdg)-launches-in-the-eu"},{"label":"Bitstamp: MiCA update on select assets (PYUSD, USDT)","url":"https://blog.bitstamp.net/post/mica-regulation-update-on-select-assets-in-the-eueea/"}],"_links":{"page":"https://tokenbank.world/answers/mica-compliant-stablecoins","index":"https://tokenbank.world/api/v1/answers"},"_citation":"TokenBank, “Which stablecoins are MiCA-compliant — and which ones can I no longer buy in the EU?”, https://tokenbank.world/answers/mica-compliant-stablecoins (data as of 2026-10-11), CC BY 4.0.","_license":"CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/","_disclaimer":"Computed from sourced data; yields are variable and not guaranteed. Not investment advice. Verify each row’s source before relying on it."}