Stripe’s stablecoin arm Bridge has won a key regulatory green light in the EU, landing on the bloc’s Markets in Crypto-Assets (MiCA) register and becoming the 42nd authorized issuer of electronic money tokens (EMTs). What happened - ESMA’s latest register update adds Bridge Building, the Luxembourg-based entity behind Stripe-owned Bridge, as an authorized EMT issuer. This brings the total number of MiCA-authorized EMT issuers to 42. - The same update also added three German crypto-asset service providers (CASPs) — Volksbank Die Gestalterbank, VBU Volksbank im Unterland and VR-Bank Erding — taking the EU’s total authorized CASPs to 324. - ESMA did not register any new asset-referenced token (ART) issuers and made no changes to its list of non-compliant firms. Why it matters - Bridge previously announced on July 2 that it had secured both a MiCA crypto-asset service provider authorization and an Electronic Money Institution (EMI) license from Luxembourg’s regulator (CSSF). Those approvals let Bridge operate across all 27 EU member states under a single regulatory passport, avoiding separate national approvals. - Under the regulated framework, businesses using Bridge’s infrastructure can issue custom euro-backed stablecoins, create named virtual IBANs, open euro accounts that function across the EU, and integrate cross-border euro accounts through a single connection. Enterprises can also use stablecoins to move funds between subsidiaries instead of relying on correspondent banking. - The registration follows the EU’s completion of MiCA’s transition on July 1, which forced regulated platforms to support only MiCA-compliant stablecoins. The shift prompted major exchanges — including Coinbase, Kraken and Crypto.com — to delist USDT for EU users after Tether opted not to seek MiCA authorization; Binance also altered services to comply. Context on Bridge and Stripe - Stripe acquired Bridge for roughly $1.1 billion and has since folded Bridge’s technology into its payments business, aiming to expand regulated stablecoin payments, cross-border settlement and related financial services for businesses and developers. - In March, Visa broadened a partnership with the Stripe-owned infrastructure to roll out stablecoin-backed Visa card programs in more than 100 countries by the end of 2026. - Bridge’s team says it has built sponsor bank relationships, payment network connections and regulatory plumbing to scale the offering globally. Former head of Stripe stablecoin partnerships Connor Fitzgerald said the program grew from zero to operations in over 100 markets and achieved annualized payment volumes in the tens of millions of dollars while launching what he described as the first U.S. stablecoin settlement flow. Broader corporate moves - Reuters reported that Stripe and private equity firm Advent International submitted a roughly $53 billion proposal to acquire PayPal, valuing the company at $60.50 per share and envisioning equal ownership between Stripe and Advent if completed. PayPal’s board reportedly viewed the bid as undervaluing the company and weighed financing, regulatory and execution risks. If consummated, the deal could pair PayPal’s crypto assets — including the Paxos-issued PYUSD stablecoin — with Stripe’s expanding Bridge infrastructure. Bottom line Bridge’s MiCA registration is an important regulatory milestone for Stripe’s stablecoin ambitions in Europe. With a full EU passport and growing partner integrations, Bridge is positioned to push euro stablecoins, virtual IBANs and cross-border payment rails deeper into mainstream fintech — precisely as MiCA reshapes which stablecoins and providers can operate in the bloc. Read more AI-generated news on: undefined/news