JPMorgan: MiCA regulations may increase the adoption of Euro stablecoins

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Golden Finance reported that analysts at JPMorgan Chase said that the milestone encryption asset market (MiCA) regulation of the European Union will take effect on December 30, 2024, which may increase the market share of stablecoins pegged to the euro. JPMorgan analysts said in a report that currently, stablecoins pegged to the euro only account for 0.12% of the stablecoin market share, but MiCA can improve this situation by encouraging European banks and financial institutions to adopt euro-pegged stablecoins to meet customer demand and blockchain-based financial settlements. Examples worth noting, the analysts said, include the EURCV stablecoin from Société Générale and the stablecoin planned by BBVA in cooperation with Visa.

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