Summary
Currently, three European companies (Monerium, Membrane, and Quantoz Payments) are issuing on-chain fiat stablecoins under the electronic money directive. They are taking a regulation-first approach. Circle and other issuers are also applying for an EMI license to comply with regulations.
Key Points
1. Three European companies, namely Monerium, Membrane, and Quantoz Payments, are issuing on-chain fiat stablecoins under the electronic money directive, emphasizing a regulation-first approach.
2. Circle, along with other issuers, is currently in the process of applying for an EMI (Electronic Money Institution) license to ensure compliance with regulations.
3. This trend demonstrates a growing focus on regulatory compliance within the stablecoin industry, as companies seek to establish themselves as trusted and legally compliant providers of digital currencies.