Binance has confirmed its ongoing support for the United States Dollar-pegged stablecoin USD Coin (USDC) within the European Economic Area (EEA). This development follows the announcement by Binance CEO Richard Teng that USDC is now regulated under the Market in Crypto Asset (MiCA) regime in the European Union.

The new status was achieved after Circle became the first global stablecoin issuer to secure an Electronic Money Institution (EMI) license in the EEA. This license permits firms to offer dollar or euro-pegged crypto tokens, including stablecoins, in compliance with the MiCA rule. As a result, USDC is now referred to as a MiCA-compliant e-money token (EMT), ensuring its availability for trading on Binance for EEA residents.

This milestone marks a significant expansion for Circle and positions it ahead of its close rival Tether. The Binance CEO expressed optimism that more MiCA-compliant EMTs will emerge soon. The development highlights a positive sentiment in the cryptocurrency sector and reinforces Circle’s leading position in the stablecoin market.

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