Circle exec expects ‘huge shift’ in EU market post-MiCA

Patrick Hansen, Circle’s European strategy director, predicted major leaps in the EU’s crypto and stablecoin market towards the end of 2025.

At the European Blockchain Convention in Barcelona, ​​Hansen shared expectations for advances in crypto market structure across the European Union. Hansen, “What Happens Behind the Scenes – Post-MiCA?” He said that the bloc’s Crypto Asset Markets Regulation, known as the Crypto Asset Markets Regulation, will be the main catalyst for this growth.

MiCA has provided governments, institutions and investors with comprehensive guidelines regarding digital assets, signaling a shift in the EU’s crypto regulatory strategy.

Indeed, MiCA outlined requirements for crypto exchanges and thresholds for stablecoin reserves. Circle (USDC) was one of the first stablecoin beneficiaries of this new regime and received MiCA’s first stablecoin license.

Image credit: crypto.news

Hansen explained that MiCA compliance and final regulatory approval involves a different process than in other regions. For example, the issuer of USDC contacted regulators for up to 24 months before receiving approval.

Circle also applied for an Electronic Money Institution license in France, which was accepted by the French banking watchdog Autorité de Contrôle Prudentiel et de Résolution.

According to Hansen, the firm’s euro-pegged stablecoin EURC has increased by 60-70% since its approval in July. The token’s current market value is over 67 million euros. Hansen predicts continued growth for EURC and other EU stablecoins under MiCA’s rules.

In the European Union, we believe we can expect at least significant growth over the next 12 months for our euro stablecoins, but for euro stablecoins in general.

Patrick Hansen, Circle Senior Director EU, Strategy and Policy

3-month EURC market cap data, 1 July – 23 September | Source: CoinGecko

As the USDC operator solidifies its foothold in Europe, CEO Jeremy Allaire has advanced plans for a US initial public offering. The digital payments provider has moved its global headquarters to the heart of New York City as part of its roadmap to go public. Circle’s new office is located in One World Trade Center, alongside Wall Street’s biggest names like Goldman Sachs.