Patrick Hansen, Director of European Strategy at Circle, predicted major progress in the European crypto and stablecoin market by the end of 2025.
At the European Blockchain Convention in Barcelona, Hansen shared his expectations for the progress of the crypto market structure in the European Union. Regulation of the bloc’s crypto-asset markets, known as crypto-asset markets regulation, would be the main catalyst for this growth, Hansen said during a panel titled “What’s Happening in behind the scenes – after MiCA?
MiCA marked a shift in the EU’s crypto regulatory strategy, providing comprehensive guidelines to governments, institutions and investors regarding digital assets.
Indeed, MiCA has defined the requirements for crypto exchanges and the thresholds for stablecoin reserves. Circle (USDC) was one of the first stable beneficiaries of this new regime and obtained the first stable license from MiCA.
Hansen revealed that MiCA compliance and eventual regulatory approval involved a different process than other regions. For example, the USDC issuer remained in contact with regulators for 24 months before obtaining approval.
Circle also applied for its electronic money institution license in France, which was accepted by the Autorité de Control Prudentiel et de Résolution, the French banking watchdog.
According to Hansen, the company’s stablecoin, EURC, pegged to the euro, has surged 60-70% since July when approval was issued. The token now has a market capitalization of more than 67 million euros. Hansen forecasts continued growth of EURC and other stablecoins in the EU, driven by MiCA rules.
We believe that in the European Union, for our euro stablecoin, but for all euro stablecoins, we can expect at least significant growth over the next 12 months.
Patrick Hansen, Senior Director of European Strategy and Policy at Circle
As the USDC operator consolidated its presence in Europe, CEO Jeremy Allaire advanced plans for an IPO in the United States. The digital payments provider has moved its global headquarters to the heart of New York as part of a roadmap to go public. Circle’s new office is located in One World Trade Center, alongside some of the biggest names on Wall Street like Goldman Sachs.
