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 in compliance with applicable regulatory requirements including MiCAR.
The flourishing digital asset market which is now subject to the MiCAR regulatory environment in the EU provides an exceptional opportunity for exploring opportunities for such collaboration between Next Generation and DECTA Limited.
Deemed an electronic money token (EMT) under MiCAR, a Euro-pegged stablecoin may only be issued in the EU either by a credit institution or by an EMI. For this reason, DECTA Limited, which is authorised by the Central Bank of Ireland as an EMI, may be a potential issuer of a Euro-pegged stablecoin/EMT. Any proposal for DECTA Limited to issue a Euro-pegged stablecoin/EMT will of course be subject to the prior approval of the Central Bank of Ireland.
In its turn, if such a strategic alliance is formed, Next Generation's role would be in relation to managing key technological components of the strategic alliance.
The potential of the EURT project is an exciting opportunity for both companies whose expertise, technical capabilities and regulatory awareness are mutually complementary. The enhancement of the regulatory environment for stablecoins in the EU with the introduction of MiCAR is welcomed by both Next Generation and DECTA Limited.
