Explainers & Analysis: MiCA

Diagram for sending EURC: verify the network against Circle's current list, keep the chain's gas asset for fees, and match asset, network and destination; issuer redemption differs from selling on an exchange

EURC and Euro Stablecoins: Networks, Fees and Redemption

How to send EURC: match the token and network, keep gas funds, and understand MiCA redemption.

Bar diagram of the minimum share of an EU e-money token reserve held as bank deposits, 30% for all issuers and 60% for significant tokens as described by Circle, with two figures below: $3.3 billion of USDC reserve cash at Silicon Valley Bank in March 2023, about 8% of the reserve, and the EBA's 1.5% cap on reserve exposure to one bank.

Banking · Oct 20

Stablecoin Reserves in Bank Deposits: Why Issuers Hold Cash at Banks

Redemptions are paid in bank money, so issuers keep part of the reserve at banks. MiCA sets a minimum; March 2023 showed the risk.

USDT and USDC compared through reserves and access

Stablecoins · Aug 19

USDT vs USDC: Reserves, Redemption and Access

USDT vs USDC compared side by side: issuers, regulation, reserves, who can redeem, networks, and whether USDC is safe.

MiCA with ART, EMT and CASP categories

Regulation · Aug 13

MiCA and Stablecoins: A Guide to the EU Framework

Token categories, issuer permissions and service-provider authorizations answer different questions.