Deutsche Börse and Circle Agree Stablecoin Adoption Programme

Deutsche Börse and Circle have signed a Memorandum of Understanding (MoU) to collaborate on the use of Circle’s EURC and USDC stablecoins within Deutsche Börse’s financial market infrastructure.

In what the firms claim is a “first-of-its-kind agreement in Europe”, they say they aim to deliver new solutions for market participants by connecting token-based payment networks with traditional financial market infrastructure. It also marks a key step in advancing the regulated adoption of stablecoins across European markets, they note.  

This initiative is enabled by the EU’s Markets in Crypto Assets Regulation (MiCAR), with which Circle was the first major global issuer to achieve compliance. The firms say they intend to initially focus on the listing and trading of stablecoins on 360T’s digital exchange 3DX and via institutional crypto provider Crypto Finance. In addition, the collaboration will enable digital asset custody via Deutsche Börse Group’s post-trade business Clearstream, leveraging the German entity of Crypto Finance as sub-custodian.

“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,” says Jeremy Allaire, co-founder, chairman and CEO of Circle. “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.” 

Stephanie Eckermann, member of the executive board of Deutsche Börse Group, responsible for post-trading, adds, “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.”