Deutsche Börse is associated with Circle to integrate Stablecoins into the European financial market

By Hannah Pérez

Deutsche Börse and Circle come together to integrate the USDC and EURC stablecoins into the Eruopa financial system at a time of greater global interest and demand for the type of assets with fiduciary parity.

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• Deutsche Börse will integrate the USDC and EURC of Circle stable in their traditional infrastructure.
• Both will allow European market participants to connect blockchain payments and traditional system.
• It is part of a broader global interest and demand by the stablecoins.

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Deutsche Börse Groupone of the main stock exchange operators in Europe, and Circleglobal issuer of Stablecoinsthey announced on Tuesday a strategic collaboration to promote the adoption of Stablecoins regulated in Europe.

The alliance, formalized through a memorandum of understanding (MOU), marks a mile Stablecoinsaccording to a statement from Circle.

The objective of this initiative is to integrate the Stablecoins In the financial infrastructure of Deutsche Börseallowing market participants to access innovative solutions that connect payment networks based on Blockchain with traditional financial systems. Integration Start with the tokens issued by CircleUSDC and EURClinked to the US dollar and the euro, respectively.

The collaboration is based on the regulatory framework of the European Union, known as Markets in Crypto Assets Regulation (Mica), a comprehensive regulatory framework for cryptocurrencies, with which Circle He has been the first great global issuer to register.

Deutsche Börse brings stablcoins from Circle to Europe

The alliance will begin with the price and negotiation of these Stablecoins in the 3DX digital bag of 360t and through Crypto Finance, both divisions Deutsche Börse. In addition, digital asset custody will be in charge of Clearstreamthe post-negotiation arm of the group, using the German entity of Crypto Finance as subcustodium.

This approach seeks to offer a complete value chain that covers execution, liquidation and custody of digital assets, according to COINDESK.

Jeremy Allaire, co -founder, president and CEO of Circlehighlighted the potential of this collaboration: “Together with Deutsche Börse Group, We plan to advance the use of stablecoins regulated in European market infrastructurereducing liquidation risks, reducing costs and improving efficiency for banks, asset managers and the market in general ”.

For his part, Stephanie Eckermann, member of the Executive Council of Deutsche Börse Responsible for post-negotiation, he stressed that “Digital assets have the potential to transform financial markets by improving efficiency, transparency and security, strengthening the competitiveness of European capital markets. ”

“Our collaboration with Circle establishes the bases to allow the use of Stablecoins by all actors in European capital markets, from established players to new participants”added Thomas Book, a member of the Executive Council of Deutsche Börse head of negotiation and compensation, who completed:

This is a first step towards the creation of a unified ecosystem that integrates tokenized payment solutions and allows access to digital and traditional assets in a regulated and liquid environment.

Traditional banks marry the stablecoins

This initiative arrives at a time of growing activity around Stablecoins in Europe. Other entities such as I société générale and a consortium of nine European banks has also recently announced projects to expand the use of Stablecoins In the region. The entry into force of Mica 2024 regulation has provided a clear framework that facilitates these innovations.

In practice, this collaboration between Deutsche Börse and Circle It could allow banks, assets of assets and other institutions to liquidate operations using euros or tokenized dollars, instead of depending on traditional payment systems, which represents an initial evidence of the integration of Stablecoins in the regulated financial infrastructure of Europe.

Meanwhile, globally, other renowned institutions also advance to integrate Stablecoins and Blockchain with the aim of modernizing traditional financial systems, frequently slow and expensive. It has been informed that Visa a pilot is carrying out to integrate the Stablecoins of Circlewhile Swift progress to adopt Blockchain within your existing system.

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Article written with the help of AI, edited by Diariobitcoin

Image generated with AI tool, under free use license

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