Circle and Bison Digital Assets collaborate to provide USDC and EURC stablecoins that are MiCA compliant, for safe and regulated transactions.
Bison Digital Assets (BDA), the cryptocurrency unit of Portugal’s Bison Bank, has teamed up with Circle, a worldwide financial technology business that issues USD Coin (USDC) and Euro Coin (EURC). Access to stablecoins that abide by the Markets in Crypto Assets (MiCA) law of the European Union is the goal of the cooperation.
Bison Digital Assets Partnership With Circle
BDA clients can now move money between blockchain networks using USDC and EURC by MiCA, the EU’s all-encompassing cryptocurrency regulation through their partnership with Circle. By laying out precise guidelines for issuers and service providers, MiCA seeks to improve market safety and clarity in the cryptocurrency space.
Additionally, the partnership guarantees that transactions adhere to the regulatory standards established by MiCA. These rules will standardize the EU’s cryptocurrency operations.
Furthermore, the fully reserved stablecoins USDC and EURC are supported by liquid cash or assets equal to money. These reserves are subject to monthly third-party audits and are kept at financial institutions subject to regulations. This provides transparency and trust by guaranteeing that users can exchange the stablecoins for their corresponding value in euros or US dollars.
António Henriques, Bison Bank CEO expressed his excitement;
“We are thrilled to establish this partnership between BDA and Circle, offering our customers regulated and secure stablecoins. We believe these will play a fundamental role in the future of financial services.”
A Milestone For EU MiCA
The relationship is noteworthy because it coincides with the implementation of the EU’s MiCA and Transfer of Funds Regulation (TFR) Travel Rule, designed to prevent money laundering and the funding of terrorism.
Patrick Hansen, Circle’s Policy Head, cleared any misunderstandings by emphasizing that CASPs must now gather and share sender and recipient information for transactions above €1,000—these steps, which include sharing encrypted information, improve security and openness in the cryptocurrency industry.
Circle’s VP of Partnerships and Business Development in Europe, Sanja Kon, emphasized the essense of this collaboration.
Sanja Kon stated,
“This collaboration reflects our shared vision to enable the global movement of money in a secure, compliant, and internet-native way. By integrating USDC and EURC, BDA customers gain robust, seamless, and regulated digital payment solutions.”
