Deutsche Börse Group and Circle Partner to Advance Stablecoin Adoption in Europe
Regulated Path for Stablecoins in Europe
The initiative is enabled by the EU’s Markets in Crypto-Assets Regulation (MiCAR), the world’s first comprehensive framework governing crypto assets. Circle was the first major global issuer to achieve MiCAR compliance, underscoring its commitment to advancing regulated adoption of stablecoins in Europe.
By aligning Circle’s regulated stablecoins with Deutsche Börse’s trusted infrastructure, the two organizations aim to create a pathway for stablecoins to become a core feature of Europe’s financial system, supporting innovation while maintaining investor protection and regulatory oversight.
Initial Areas of Focus
The collaboration will begin with several targeted initiatives:
- Trading and Listing: Stablecoins will be listed and traded on 360T’s digital platform 3DX and through institutional provider Crypto Finance, both subsidiaries of Deutsche Börse Group.
- Custody answers: Institutional-grade custody will be provided post-trade business, leveraging Crypto Finance’s German entity as sub-custodian.
- Integration Across Value Chain: The collaboration supports seamless workflows spanning execution, settlement, and custody, ensuring stability and efficiency for market participants.
Industry Voices
“Together with Deutsche Börse Group, we’re planning to advance the use of regulated stablecoins across Europe’s market infrastructure—reducing settlement risk, lowering costs, and improving efficiency for banks, asset managers, and the wider market. As clear rules take hold across Europe, aligning our regulated stablecoins, EURC and USDC, with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody.”
“Digital assets have the potential to reshape financial markets by enhancing efficiency, transparency, and security – thereby strengthening the competitiveness of European capital markets. Through this collaboration, we are taking a decisive step toward integrating stablecoins into regulated, reliable and trusted infrastructure. Thereby, we are advancing our ambition to transform traditional securities issuance and post-trade processes into a fully digital experience tailored to client needs.”
“Deutsche Börse Group is uniquely positioned to bridge the gap between traditional and digital finance. Our integrated Finance and Clearstream have built a complete value chain for crypto asset trading, spanning execution, settlement, and custody. Our collaboration with Circle assists lay the groundwork to enable the usage of stablecoins by everyone in the European capital markets – from established players to new entrants.”
A Milestone in Digital Finance Strategy
This initiative is part of leadership ambition along its entire value chain. It follows the Group’s expansion of its cryptocurrency business through settlement and custody services in crypto assets for institutional investors.
The collaboration also complements (ECB) wholesale CBDC trials, where its D7 DLT tokenization platform was used to test digital settlement models for securities.
Impact on European Capital Markets
For market participants, the integration of Circle’s EURC and USDC into Deutsche Börse’s infrastructure promises:
- Reduced settlement risk through real-time, token-based payments.
- Lower costs for transactions and post-trade operations.
- Increased efficiency in cross-border trading and settlement workflows.
- Expanded access to regulated stablecoins as a payment and settlement option in traditional markets.
With MiCAR providing legal clarity, this collaboration sets the stage for Europe to become a leader in regulated stablecoin adoption, positioning Deutsche Börse and Circle at the forefront of the next evolution in digital finance.
