The Register · stablecoin and payment licences
Out of 492 digital asset licences on the register. Of these, 29 carry an explicit authorisation to issue: 23 MiCA e-money token issuers, 2 licensed under Hong Kong's Stablecoins Ordinance and 4 authorised to issue a dirham payment token. The remaining 12 hold payment or stored-value licences that touch payment tokens without authorising issuance. We do not yet hold US licence records, so NYDFS trust companies issuing dollar stablecoins are not counted here.
The list
Each row links to the regulator's own entry.
| Company | Regulator | Licensed for | Granted | Source |
|---|---|---|---|---|
| AED Stablecoin L.L.C - S.P.C stablecoin unconfirmed | CBUAE | Dirham Payment Token Issuance | 01 Jan 2024 | register ↗ |
| AEDC Stable Coin L.L.C stablecoin unconfirmed | CBUAE | Dirham Payment Token Issuance | not published | register ↗ |
| AEDC Stable Coin Network and Distribution L.L.C stablecoin unconfirmed | CBUAE | Stored Value Facility, Payment Token Conversion, Custody and Transfer | not published | register ↗ |
| Circle Internet MEA Ltd stablecoin unconfirmed | ADGM-FSRA | Arranging Deals in Investments, Providing Money Services | 01 Nov 2025 | register ↗ |
| Foris DAX Middle East FZE stablecoin unconfirmed | CBUAE | Stored Value Facility | 01 May 2026 | register ↗ |
| Jingdong Coinlink Technology (Middle East) Limited stablecoin unconfirmed | ADGM-FSRA | Issuing a Fiat-Referenced Token | 01 Jan 2026 | register ↗ |
| Revolut Stored Value Services L.L.C stablecoin unconfirmed | CBUAE | Stored Value Facility, Retail Payment Services | 01 Jun 2026 | register ↗ |
| Zand Trust L.L.C S.O.C stablecoin unconfirmed | CBUAE | Dirham Payment Token Issuance | 01 Jan 2025 | register ↗ |
| BPay Global stablecoin unconfirmed | CBB | Payment Service Provider licence, not a crypto-asset licence | 09 Apr 2025 | register ↗ |
| AIEU Services Limited S.A. stablecoin | ESMA-CSSF | MiCA e-money token issuer | 21 Dec 2018 | register ↗ |
| AllUnity GmbH stablecoin | ESMA-BaFin | MiCA e-money token issuer | 19 Jan 2026 | register ↗ |
| Banking Circle S.A. stablecoin | ESMA-CSSF | MiCA e-money token issuer | 29 Oct 2019 | register ↗ |
| Bridge Building S.A. stablecoin | ESMA-CSSF | MiCA e-money token issuer | 23 Jul 2026 | register ↗ |
| CACEIS BANK SA stablecoin | ESMA-ACPR | MiCA e-money token issuer | 19 May 1979 | register ↗ |
| Circle Internet Financial Europe SAS stablecoin | ESMA-ACPR | MiCA e-money token issuer | 01 Jul 2024 | register ↗ |
| DINARO company for electronic money issuing and payment services Ltd. stablecoin | ESMA-BS-Slovenia | MiCA e-money token issuer | 02 Nov 2021 | register ↗ |
| Eurodollar ApS stablecoin | ESMA-Finanstilsynet | MiCA e-money token issuer | 17 Feb 2025 | register ↗ |
| Fiat Republic Netherlands stablecoin | ESMA-DNB | MiCA e-money token issuer | 29 Nov 2021 | register ↗ |
| HEURO SAS stablecoin | ESMA-ACPR | MiCA e-money token issuer | 02 Dec 2021 | register ↗ |
| Monerium ehf stablecoin | ESMA-CBI-Iceland | MiCA e-money token issuer | 25 Sep 2019 | register ↗ |
| Newrails, UAB stablecoin | ESMA-LB-Lithuania | MiCA e-money token issuer | 04 Jun 2020 | register ↗ |
| Oddo BHF SCA stablecoin | ESMA-ACPR | MiCA e-money token issuer | 26 Jun 2007 | register ↗ |
| Paxos Issuance Europe Oy stablecoin | ESMA-FIN-FSA | MiCA e-money token issuer | 23 Nov 2022 | register ↗ |
| Payment Corporation SE stablecoin | ESMA-CNB | MiCA e-money token issuer | 26 Apr 2017 | register ↗ |
| Quantoz Payments B.V stablecoin | ESMA-DNB | MiCA e-money token issuer | 13 Oct 2023 | register ↗ |
| SALVUS stablecoin | ESMA-ACPR | MiCA e-money token issuer | 22 Nov 2024 | register ↗ |
| SIA GR8 PAY stablecoin | ESMA-LB-Latvia | MiCA e-money token issuer | 10 Dec 2025 | register ↗ |
| Société Générale - Forge stablecoin | ESMA-ACPR | MiCA e-money token issuer | 01 Jul 2024 | register ↗ |
| StaBillon sp. z o.o. stablecoin | ESMA-KNF | MiCA e-money token issuer | 23 Apr 2019 | register ↗ |
| StablR Ltd stablecoin | ESMA-MFSA | MiCA e-money token issuer | 21 Jun 2024 | register ↗ |
| Stable mint Ltd stablecoin | ESMA-MFSA | MiCA e-money token issuer | 05 Aug 2024 | register ↗ |
| UAB BLUE EMI LT stablecoin | ESMA-LB-Lithuania | MiCA e-money token issuer | 11 Oct 2022 | register ↗ |
| Anchorpoint Financial Limited stablecoin | HKMA | Stablecoin issuer licence, s.15(1) Stablecoins Ordinance (Cap. 656) | 10 Apr 2026 | register ↗ |
| The Hongkong and Shanghai Banking Corporation Limited stablecoin | HKMA | Stablecoin issuer licence, s.15(1) Stablecoins Ordinance (Cap. 656) | 10 Apr 2026 | register ↗ |
| SBI VC Trade Co., Ltd. stablecoin | FSA-JP | Electronic Payment Instrument Exchange Service Provider | 04 Mar 2025 | register ↗ |
| Circle Internet Singapore Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Digital Treasures Center Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Fly Wing Technologies Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| Paxos Digital Singapore Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| StraitsX SGD Issuance Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
| StraitsX USD Issuance Pte. Ltd. stablecoin | MAS | Major Payment Institution, Digital Payment Token service | not published | register ↗ |
Worth knowing
23 of the 41 are European e-money token issuers authorised under MiCA. ESMA's register still lists no authorised issuer of an asset-referenced token, even though MiCA built the category and gave it a full route under Article 21.
Hong Kong licensed two applicants out of thirty-six. Japan has exactly one approved distributor and Tether is not on it. Qatar treats stablecoins as excluded tokens, Saudi has no regime, and Kuwait bans the activity.