Deutsche Börse & Circle Pioneer European Token Integration
In a groundbreaking move, Deutsche Börse Group and Circle have joined forces to integrate token-based payment networks with traditional market structures in Europe. This is the first such agreement in Europe, aiming to reduce settlement risk, lower costs, and improve efficiency for banks and asset managers.
The collaboration, supported by the EU's Markets in Crypto Assets Regulation (MiCAR), will initially involve listing and trading stablecoins on 360T's digital exchange 3DX and via Crypto Finance, both part of Deutsche Börse Group. Stephanie Eckermann, Executive Board member responsible for Post-Trading at Deutsche Börse Group, stated: 'Digital assets have the potential to reshape financial markets... Through this collaboration, we are taking a step toward integrating stablecoins into regulated, reliable, and trusted infrastructure.'
Custody services will be provided through Clearstream, with Crypto Finance acting as sub-custodian. Notably, Mainstream Digital Securities AG (MDS), an independent Swiss institution licensed by the Swiss Financial Market Supervisory Authority (FINMA), has been selected to provide custody services for the stablecoins used by Deutsche Börse Group and Circle.
This partnership, which includes plans to use Circle's EURC and USDC stablecoins within Deutsche Börse's infrastructure, adds to Deutsche Börse Group's existing digital asset activities. Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, expressed excitement about advancing the use of regulated stablecoins across Europe's market infrastructure. With MiCAR compliance achieved by Circle, this collaboration is set to enhance trust in stablecoins and digital assets among institutional investors.
