Bitstamp expands access to USDC and EURC in collaboration with Circle amid EU MiCA rollout

Crypto exchange Bitstamp, which claims to have over 5 million global users, has expanded its stablecoin offerings to include exclusive USDC and EURC trading pairs in collaboration with Circle.

EURC and USDC are among the world's largest fully-reserved, regulated stablecoins, and Circle is the first major global digital asset infrastructure and stablecoin issuer to comply with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, according to a statement shared with The Block.

"This partnership reinforces our shared commitment to delivering secure, transparent and regulatory-compliant digital asset solutions," Circle VP of Partnerships and Business Development Sanja Kon said. "By expanding access to USDC and EURC, Bitstamp customers benefit from trusted, fully reserved stablecoins that enhance liquidity and efficiency in the digital asset ecosystem."

MiCA, overseen by the European Securities and Markets Authority, was approved by the European Parliament in April 2023, mandating that stablecoins issued and used in the region must pass increased regulatory requirements.

MiCA rolled out in different phases, and while full compliance for all aspects was required by December 2024, implementation timelines vary depending on individual EU nations.

Bitstamp claims customer demand for regulated stablecoins is strong, highlighting that the trading volume for USDC on the platform increased by 52% year-over-year in 2024, with the highest growth in the EMEA region at 63%.

The total USDC held by Bitstamp customers also increased by 59% in 2024, while USDC used in lending grew by 36%, with a 44% rise in EMEA. However, as EURC adoption remains in its early stages, the partnership also aims to expand access to the EURO-based stablecoin, it said.

"Stablecoins are essential to the digital asset ecosystem, providing liquidity and a vital link between traditional and crypto markets," Bitstamp CEO Jean-Baptiste Graftieaux said. "As demand for regulated stablecoins grows, our partnership with Circle enables our users to have access to trusted, compliant options, reinforcing our commitment to a secure and transparent trading environment."

The move also has implications for Robinhood, which is in the process of integrating Bitstamp following a $200 million acquisition deal for the crypto exchange.

Circle's USDC stablecoin supply has reached a new all-time high earlier this week, surpassing a market cap of $60 billion — a milestone underscoring its growing adoption while still trailing Tether's $144 billion USDT supply.

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Last year, Tether CEO Paolo Ardoino told The Block that the EU's MiCA regulation "contains several problematic requirements" that "could not only render the job of a stablecoin issuer extremely complex but also make EU-licensed stablecoins extremely vulnerable and riskier to operate."

In November, Tether announced it would end support for its EURT stablecoin citing the MiCA regulations and falling demand, instead deciding to invest in European stablecoin provider StablR to promote stablecoin adoption in Europe.