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Bitget2024/07/02 05:03

By:Bitget

Circle Snags First Stablecoin License Under EU's New MiCA Crypto Rules

Circle became the first global stablecoin issuer to secure an Electronic Money Institution (EMI) license, a prerequisite to offering dollar- and euro-pegged crypto tokens in the European Union (EU) under the Markets in Crypto Assets (MiCA) regulatory framework.

The license gives the company, whose USDC trails behind rival Tether's market-leading USDT, pole position in grabbing market share among the 27-nation trading bloc's 450 million people.

Stablecoins are a key piece of infrastructure in the digital asset market, facilitating trading on exchanges and, increasingly, used for transactions and remittances. Circle's $32 billion USDC is the second-largest stablecoin and the gap to market leader Tether's $110 billion USDT has been widening. Armed with a license from the French banking regulatory authority, Circle Mint France will “onshore” the issuance of its euro-denominated EURC stablecoin to the EU and issue USDC from the same entity, the company said.

Source: CoinDesk

Futures Market Updates

Bitcoin prices neither shoot up as expected nor fell too low, causing liquidations on both sides.

Bitcoin Futures Updates

Total BTC Open Interest: $32.83B (-0.32%)

BTC Volume (24H): $36.87B (-14.62%)

BTC Liquidations (24H): $10.47M (Long)/$12.95M (Short)

Long/Short Ratio: 49.86%/50.14%

Funding Rate: 0.0033%

Ether Futures Updates

Total ETH Open Interest: $15.08B (-0.79%)

ETH Volume (24H): $14.85B (-7.75%)

ETH Liquidations (24H): $13.03M (Long)/$7.19M(M(Short)

Long/Short Ratio: 48.46%/51.54%

Funding Rate: 0.0073%

Top 3 OI Surges

1000APU: $2.33M (+133.39%)

ZEN: $13.33M (+131.35%)

BAL: $12.25M (+112.72%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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