EURD vs USDC: two MiCA-regulated stablecoins compared.
EURD
Quantoz Payments B.V. · EUR peg · DNB
score pending verification
Footprint · context only · weight 0
USDC
Circle Internet Financial Europe SAS · USD peg · ACPR
84 / 100composite
Footprint · context only · weight 0
| Dimension | EURD | USDC |
|---|---|---|
| Issuer | Quantoz Payments B.V. · Netherlands | Circle Internet Financial Europe SAS · France |
| Peg | EUR | USD |
| FX risk for a euro household | None | EUR/USD exposure |
| MiCA status | EMT · Title IV | EMT · Title IV |
| Regulator | DNB | ACPR |
| Reserves summary | Euro-backed EMT on Algorand targeting institutional/programmable money use cases. | Fully backed by cash and short-dated US Treasuries, largely in the BlackRock-managed Circle Reserve Fund, with monthly attestations. |
| Note | Quantoz also notified PLNQ (PLN), GBPQ (GBP) and RONQ (RON) white papers — one of the broadest multi-currency EMT sets in the register. | Largest MiCA-compliant stablecoin; white papers notified 2024-07-01, the day MiCA Title IV became applicable. |
| Band | Partially verified | Substantially verified |
| Composite | pending | 84 / 100 |
| D1 Regulatory | — | 28/30 |
| D2 | — | 28/30 |
| D3 | — | 13/25 |
| D4 | — | 15/15 |
| Checked | 24 JUL 2026 | 24 JUL 2026 |
Checked 24 JUL 2026 against the ESMA register and issuer attestations.
Our read
EURD is a EUR-pegged MiCA e-money token from Quantoz Payments B.V. (band 3); USD Coin is a USD-pegged MiCA e-money token from Circle Internet Financial Europe SAS (band 2).
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