Deutsche Börse and Circle partner
02 October 2025 SIBOS
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Deutsche Börse and Circle Internet have penned 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 agreement between a European market infrastructure provider and a global stablecoin issuer aims to provide new solutions for market participants by linking token-based payment networks with conventional financial market systems.
It represents a step towards progressing the regulated adoption of stablecoins across European markets.
This initiative is enabled by the EU’s Markets in Crypto Assets Regulation (MiCAR), the first global extensive regulatory framework for crypto assets.
The companies aim to initially concentrate on listing and trading of stablecoins on 360T’s digital exchange 3DX and through institutional crypto provider crypto finance, both part of Deutsche Börse Group.
The partnership will also facilitate institutional-grade digital asset custody via Deutsche Börse Group’s post-trade business Clearstream, using the German entity of Crypto Finance as sub-custodian.
Jeremy Allaire, co-founder, chairman and CEO of Circle, says: “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, says: “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.”
This first agreement between a European market infrastructure provider and a global stablecoin issuer aims to provide new solutions for market participants by linking token-based payment networks with conventional financial market systems.
It represents a step towards progressing the regulated adoption of stablecoins across European markets.
This initiative is enabled by the EU’s Markets in Crypto Assets Regulation (MiCAR), the first global extensive regulatory framework for crypto assets.
The companies aim to initially concentrate on listing and trading of stablecoins on 360T’s digital exchange 3DX and through institutional crypto provider crypto finance, both part of Deutsche Börse Group.
The partnership will also facilitate institutional-grade digital asset custody via Deutsche Börse Group’s post-trade business Clearstream, using the German entity of Crypto Finance as sub-custodian.
Jeremy Allaire, co-founder, chairman and CEO of Circle, says: “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, says: “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.”
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