Deutsche Börse Group and Circle Announce Collaboration to Advance Stablecoin Adoption in Europe

Deutsche Börse Group and Circle Internet Group (“Circle”) have signed a Memorandum of Understanding (MoU) to collaborate on the use of Circle’s EURC and USDC stablecoins within Deutsche Börse’s financial market infrastructure. This first-of-its-kind agreement in Europe aims to deliver new solutions for market participants by connecting token-based payment networks with traditional financial market infrastructure. It also marks a key step in advancing the regulated adoption of stablecoins across European markets.  

This initiative is enabled by the EU’s Markets in Crypto Assets Regulation (MiCAR), the world’s first comprehensive regulatory framework for crypto assets. Circle was the first major global issuer to achieve compliance with MiCAR, underscoring its commitment to Europe as a key region for digital financial innovation. 

The parties intend to initially focus on the listing and trading of stablecoins on 360T’s digital exchange 3DX and via institutional crypto provider Crypto Finance, both part of Deutsche Börse Group. In addition, the collaboration will enable institutional-grade digital asset custody via Deutsche Börse Group’s post-trade business Clearstream, leveraging the German entity of Crypto Finance as sub-custodian.

Jeremy Allaire, Co-Founder, Chairman and CEO of Circle, said: “Together with Deutsche Börse Group, we’re planning to advance the use of regulated stablecoins across Europe’s market infrastructure—reducing settlement risk, lowering costs, and improving efficiency for banks, asset managers, and the wider market. As clear rules take hold across Europe, aligning our regulated stablecoins, EURC and USDC, with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody.” 

Stephanie Eckermann, member of the Executive Board of Deutsche Börse Group, responsible for Post-Trading, said: “Digital assets have the potential to reshape financial markets by enhancing efficiency, transparency, and security – thereby strengthening the competitiveness of European capital markets. Through this collaboration, we are taking a decisive step toward integrating stablecoins into regulated, reliable and trusted infrastructure. Thereby, we are advancing our ambition to transform traditional securities issuance and post-trade processes into a fully digital experience tailored to client needs.” 

Thomas Book, member of the Executive Board of Deutsche Börse Group, responsible for Trading & Clearing, said: “Deutsche Börse Group is uniquely positioned to bridge the gap between traditional and digital finance. Our integrated offerings from 360T, 3DX, Crypto Finance and Clearstream have built a complete value chain for crypto asset trading, spanning execution, settlement, and custody. Our collaboration with Circle helps lay the groundwork to enable the usage of stablecoins by everyone in the European capital markets – from established players to new entrants. It is a first step on the way to creating a unified ecosystem that seamlessly integrates tokenized payment and cash solutions and that allows participants to access both digital and traditional assets in a regulated and liquid environment.” 

This collaboration is a further milestone for Deutsche Börse Group’s digital leadership ambition along its entire value chain. It builds on the Group’s existing cryptocurrency business Crypto Finance and the latter’s collaboration with Clearstream, which commenced the offering of settlement and custody services in crypto assets to institutional investors earlier this year. It also complements Deutsche Börse Group’s efforts to explore the use of wholesale central bank digital currencies (wCBDC) as part of last year’s successful European Central Bank (ECB) trials, which leveraged the Group’s tokenization solution D7 DLT.

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[Editorial note: We kindly provide you with printable photos of Jeremy Allaire, Thomas Book, and Stephanie Eckermann.] 

 
Media contact: 

Deutsche Börse Group 
Patrick Kalbhenn 
+49 69 2114730 
patrick.kalbhenn@deutsche-boerse.com 

Circle 
Zara Gleasure 
+00353871204186 
zara.gleasure@circle.com

About Deutsche Börse

As an international exchange organization and innovative market infrastructure provider, Deutsche Börse Group ensures that capital markets are fair, transparent, reliable, and stable. With its wide range of products, services, and technologies, the Group organizes safe and efficient markets for sustainable economies.  

Its business areas cover the entire financial market transaction process chain. This includes the provision of indices, data, software, SaaS, and analytical solutions, as well as admission, trading, and clearing. Additionally, it comprises services for funds, the settlement and custody of financial instruments, and the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems worldwide.  

With nearly 16,000 employees, the Group is headquartered in the financial center of Frankfurt/Rhine-Main and has a strong global presence in locations such as Luxembourg, Prague, Cork, London, Copenhagen, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo, and Sydney  

About Circle Internet Group, Inc.

Circle (NYSE: CRCL) is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. Circle is building the world’s largest, most-widely used, stablecoin network, and issues, through its regulated affiliates, USDC and EURC stablecoins. Circle provides a comprehensive suite of financial and technology services that empower enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations. For more information visit www.circle.com.