JPMorgan: MiCA Regulations May Increase Adoption of Euro Stablecoin
The European Union's landmark Market for Crypto Assets (MiCA) regulation, which comes into effect on December 30, 2024, could boost the market share of euro-pegged stablecoins, according to analysts at JPMorgan Chase. Currently, euro-pegged stablecoins account for only 0.12 percent of the stablecoin market share, but MiCA could improve this by encouraging European banks and financial institutions to adopt euro stablecoins for customer needs and blockchain-based financial settlements, JPMorgan analysts said in a report. Notable examples include Société Générale's EURCV stablecoin and BBVA's plans to launch a stablecoin in partnership with Visa, analysts said.
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