Deutsche Börse Teams With Circle as Stablecoins Push Into Core Euro Markets

Europe is taking a massive leap toward regulated digital finance as Circle and Deutsche exchange join forces to embed stablecoins into core market infrastructure.

Circle’s USDC and EURC Take Aim at Legacy Systems Via Deutsche exchange

Global integration of digital assets into regulated markets is gaining momentum, with Europe emerging as a central hub for innovation. Deutsche Börse Group, one of the region’s largest market infrastructure providers, announced on Sept. 30 that it signed a memorandum of understanding with Circle Internet Group Inc. (NYSE: CRCL) to collaborate on deploying Circle’s products, including its EURC and USDC stablecoins, across Deutsche Börse’s ecosystem. The agreement is the first of its kind between a European exchange operator and a global stablecoin issuer, underscoring the momentum around Europe’s Markets in Crypto Assets Regulation (MiCAR).

The companies stressed the milestone in their joint announcement:

Diese erstmalige Vereinbarung in Europa zielt darauf ab, neue Lösungen für Marktteilnehmer bereitzustellen, indem tokenbasierte Zahlungsnetzwerke mit der traditionellen Finanzmarktinfrastruktur verbunden werden.

“Es markiert auch einen wichtigen Schritt zur Förderung der regulierten Akzeptanz von stablecoins auf den europäischen Märkten”, fügt die Ankündigung hinzu.

The initial focus will be on listing and trading Circle’s products through Deutsche Börse’s 360T platform and 3DX digital exchange, combined with custody and settlement solutions delivered by Clearstream and supported by Crypto Finance. The collaboration leverages MiCAR’s regulatory clarity, which Circle was the first global issuer to comply with, and aims to integrate tokenized payments into a fully regulated environment.

Deutsche Börse Group, an international exchange organization and market infrastructure provider, is headquartered in the Frankfurt/Rhine-Main financial center. It maintains a global presence with offices in Luxembourg, Prague, Cork, London, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo and Sydney.

Circle’s co-founder, chairman and CEO Jeremy Allaire also highlighted the expected impact: “Together with Deutsche exchange 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.” The executive continued:

Wenn klare Regeln in ganz Europa gelten, wird die Angleichung unserer regulierten stablecoins, EURC und USDC, an vertrauenswürdige Handelsplätze neue Produkte freischalten und Arbeitsabläufe im Handel, bei der Abwicklung und in der Verwahrung optimieren.

While critics warn that widespread stablecoin adoption could add systemic risks, advocates argue that the combination of compliance, trusted infrastructure, and institutional-grade custody provides safeguards. Supporters see the Deutsche exchange–Circle tie-up as a step toward a future where digital assets and traditional securities coexist seamlessly within Europe’s capital markets.