DECTA, an Ireland-based EMI, is partnering with French fintech Next Generation to launch EURT, a MiCA-compliant Euro-pegged stablecoin on Stellar and three other blockchains. The project, originally launched in 2017, is being relaunched in October 2024 under the new European regulatory framework.
DECTA and Next Generation are collaborating to introduce EURT, a fully compliant Euro-pegged stablecoin operating on the Stellar blockchain alongside three additional platforms. EURT was originally launched in 2017 with the Stellar Foundation but was suspended due to lack of regulatory clarity. The new Markets in Crypto-Assets (MiCA) regulations, effective July 1, 2024, now permit Euro stablecoin issuance exclusively by EU credit institutions or EMIs, positioning DECTA's Central Bank of Ireland EMI license as a key advantage. The October 2024 launch will include independent auditing of reserves and regular financial reporting for transparency. Market projections suggest EURT could reach a $4 billion market cap by 2026, addressing significant demand for regulated Euro stablecoins in Europe.