Stripe-owned Bridge joins EU MiCA register after Luxembourg approval
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bridge Building, the Luxembourg-based company behind the Stripe-owned stablecoin infrastructure firm Bridge, has joined the European Union’s MiCA register after getting regulatory approval from Luxembourg authorities. This registration follows Bridge securing both a Crypto-Asset Service Provider (CASP) authorization and an Electronic Money Institution (EMI) licence, allowing it to operate under the EU’s regulatory framework for crypto assets.
Why it matters
According to Bridge’s Head of Product, Mai Leduc Blount, the approvals enable businesses within the EU to develop stablecoin and payment products within a regulated environment. This development reflects ongoing regulatory progress in the EU crypto sector and demonstrates the increasing formalization of stablecoin operators under MiCA rules.
Key context
The EU’s Markets in Crypto-Assets Regulation (MiCA) aims to regulate crypto asset service providers and issuers, including electronic money token issuers like Bridge. Before Bridge’s addition, there were 41 authorized EMT issuers. ESMA has been regularly updating the MiCA register, which tracks authorized entities, non-compliant companies, and other key MiCA-regulated participants. There are currently no asset-referenced token issuers listed, and recent updates have also added new CASPs from Germany.
Key numbers and entities
Bridge Building (Luxembourg entity), Stripe (parent company of Bridge), Luxembourg’s Commission de Surveillance du Secteur Financier (regulator), European Securities and Markets Authority (ESMA), Mai Leduc Blount (Bridge’s Head of Product). The EU register now lists 42 authorized electronic money token issuers and 324 authorized CASPs, with no authorized asset-referenced token issuers.
What remains unclear
The source does not flag any open questions or limitations regarding Bridge’s registration or EU regulatory developments at this time.