Deutsche Börse and Circle sign MOU to integrate stablecoins into European markets - Trade Treasury Payments

At Sibos 2025, Deutsche Börse and Circle Internet have signed a Memorandum of Understanding (MOU) to integrate stablecoins into the European market infrastructure. This is the first partnership between a European market infrastructure provider and a global stablecoin issuer.

This follows their recent partnership with Clearlink, which aims to make cross-border settlement of traditional securities more efficient.

Landmark agreement for European finance

The MOU, announced on 2nd October, will incorporate Circle’s EURC and USDC stablecoins into Deutsche Börse’s financial market systems. This collaboration coincides with the implementation of the EU’s Markets in Crypto Assets Regulation (MiCAR), which provides the regulatory framework needed for such initiatives.

Initially, the partners will focus on listing and trading stablecoins on 360T’s digital exchange, 3DX, and through the institutional provider Crypto Finance, both of which are Deutsche Börse Group subsidiaries. The partnership also extends to institutional-grade digital asset custody via Clearstream, with Crypto Finance’s German entity serving as sub-custodian.

“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,” said Jeremy Allaire, co-founder, chairman and CEO of Circle.

The MOU comes at a strategic time as Europe establishes clear regulatory guidelines for digital assets. “As clear rules take hold across Europe, aligning our regulated stablecoins with trusted venues will unlock new products and streamline workflows across trading, settlement, and custody,” Allaire added.

Strengthening European capital markets

For Deutsche Börse, this agreement aligns with their strategy to modernise financial infrastructure. 

According to Stephanie Eckermann, member of the Executive Board of Deutsche Börse Group, responsible for post-trading, “Digital assets have the potential to reshape financial markets by enhancing efficiency, transparency, and security—thereby strengthening the competitiveness of European capital markets.”

This partnership goes beyond introducing new financial instruments and connects token-based payment networks with established financial systems. 

“Through this collaboration, we are taking a decisive step toward integrating stablecoins into regulated, reliable and trusted infrastructure,” Eckermann noted.

This agreement could accelerate institutional adoption of digital assets across Europe. By connecting blockchain-based payment networks with traditional financial infrastructure, Deutsche Börse and Circle are establishing a model for digital asset integration.

With MiCAR providing the legal foundation, established financial institutions can now engage with digital asset providers while maintaining regulatory compliance.