Band 1 · EMT
EURC is fully verified — band 1
Euro Coin by Circle Internet Financial Europe SAS. Composite 93/100. Backed by euro-denominated cash held with EU banks and short-dated European sovereign instruments, segregated from USDC reserves.
The Monday Brief
Every Monday, 09:00 CET — what changed in the EU stablecoin register, verified against the regulator's own data.
One email, every Monday. New MiCA authorisations, score and peg changes, stale-reserve flags, and one editorial. Free, and every claim links to its primary source.
Checked 24 JUL 2026 against primary sources
No invented events: the entries below are the register's current state, shown so you know exactly what lands in your inbox.
StablecoinProBrief № 001 · MON 09:00 CET
33 coins tracked29 EMTs in the register1 fully verified
Band 2 · EMT
USDC holds band 2 — substantially verified
USD Coin by Circle Internet Financial Europe SAS. Composite 84/100. Fully backed by cash and short-dated US Treasuries, largely in the BlackRock-managed Circle Reserve Fund, with monthly attestations.
Not in the register
EURS is listed, not scored
Claims MiCA compliance but does not appear in the current ESMA EMT register — treat as non-compliant until clarified.
Why “listed, not scored” exists
A token can sit in the ESMA register and still carry reserves we cannot verify yet. Until our verification pass lands it stays listed, not scored — reserves you can't verify are reserves you don't count.
Every claim links to its primary source — regulator's register first.
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Previous issues
- P1.1 wiring test — Brief №0Sent 27 JUL 2026