BDA Teams Up with Circle to Offer Regulated Stablecoins Compliant with EU's MiCA Framework

BDA integrates Circle's USD Coin (USDC) and Euro Coin (EURC) into its platform, allowing users to seamlessly conduct deposits, withdrawals

Bison Digital Assets (BDA), a subsidiary of Portugal's Bison Bank, has partnered with Circle to offer access to regulated stablecoins under the European Union's Markets in Crypto Assets (MiCA) framework.

As part of this collaboration, BDA will integrate Circle's USD Coin (USDC) and Euro Coin (EURC) into its platform, enabling users to seamlessly make deposits, withdrawals, and payments using these stablecoins. Designed to maintain a stable value by being backed 1:1 by traditional currencies like the euro or U.S. dollar, stablecoins offer users an efficient alternative to volatile cryptocurrencies. Both USDC and EURC are fully backed by cash or cash-equivalent assets held at regulated financial institutions, ensuring that customers can exchange them for the equivalent value in fiat currency at any time.

This integration allows BDA users to transfer funds across blockchain networks with USDC and EURC, fully in compliance with MiCA, the EU's comprehensive regulation aimed at providing clarity and safety to the crypto market. MiCA seeks to establish clear rules for cryptocurrency issuers and service providers, making transactions faster and cheaper compared to traditional banking transfers.

Moreover, the reserves backing these stablecoins are subject to regular third-party audits, ensuring transparency and security for users. António Henriques, CEO of Bison Bank, highlighted the importance of this collaboration, stating, “We believe these [stablecoins] will play a fundamental role in the future of financial services, and we are committed to leading this transformation.”