Wirex, a UK-based digital payments platform and principal member of Visa and Mastercard, released a whitepaper on Oct. 29 forecasting that Europe’s stablecoin market could reach €1 trillion this decade. The company, which has over 6 million customers across 130 countries, projects growth driven by euro-denominated tokens compliant with the EU’s new MiCAR regulation. The stablecoin market shows 90-95% of global circulation in USD-denominated tokens, while EUR-backed tokens represent less than €350 million, ...

By Valentina Za and Giuseppe Fonte ROME (Reuters) -The European Union should clarify rules for identical stablecoins issued across borders, a senior Bank of Italy official said on Thursday, urging uniform standards to protect users. Stablecoins - crypto assets pegged to traditional currencies or commodities - have created friction between the European Commission and the European Central Bank. They are also known as electronic money tokens (EMTs). The Commission has been asked to clarify whether EU rules ...