Circle partners with Bison Digital Assets for MiCA-compliant stablecoins

Bison Digital Assets, a subsidiary of Portuguese Bison Bank, has partnered with Circle to provide access to regulated stablecoins that comply with the European Union’s CryptoAsset Markets framework.

The partnership integrates Circle’s USD Coin (USDC) and Euro Coin (EURC) into the BDA platform, allowing customers to use these stablecoins for deposits, withdrawals and payments.

Stablecoins are cryptocurrencies designed to maintain a consistent value by being backed 1:1 by traditional currencies such as the euro or US dollar. According to the statement made by the company, USDC and EURC issued by Circle are fully backed by cash or cash equivalents held in regulated financial institutions.

This allows customers to exchange them for their equivalent value in fiat currency at any time.

Circle’s MiCA compatible streams

With this integration, BDA customers will now be able to use USDC and EURC to transfer funds over blockchain networks in compliance with MiCA, the EU’s comprehensive regulation of cryptocurrencies. MiCA aims to bring clarity and security to the crypto market by setting clear rules for issuers and service providers.

For users, this means that transactions with USDC and EURC are designed to be faster and cheaper than traditional banking transfers.

At the same time, the reserves backing these stablecoins ensure security and transparency, with regular third-party audits verifying their support.

António Henriques, CEO of Bison Bank, pointed out the importance of cooperation and said: “We believe in this. [stablecoins] “It will play a fundamental role in the future of financial services and we are committed to leading this transformation.”