France-based Next Generation, and Ireland-based electronic money institution (EMI), DECTA Limited have entered into discussions to explore the opportunity for the issuance of a Euro-pegged stablecoin (EURT) by DECTA Limited. Under the new MiCA rules, which took effect on 1st July 2024, the issuance of Euro-pegged stablecoins like EURT is permitted exclusively to credit institutions or EMIs within the EU. “The implementation of MiCAR has opened a new era in the history of the segment of modern digital finance in Europe,” explained Suren Hayriyan, president of Next Generation. “As the share of European coins is currently unfairly low, we will witness a very rapid increase in their positions. The demand for Euro stablecoins is extremely high. Companies, entrepreneurs and private users today lose a lot on forced conversions. I do not expect, of course, that we will soon see parity in the positions of American and European coins in the near future. But I have no doubt that there will be a rapid growth to the proportions in which these fiat currencies are now.”
