Can Europe Catch Up to the US in the Stablecoin Race? Bitget CEO Weighs In

Gracy Chen, CEO of Bitget, analyzes Europe's position in the global stablecoin race, noting that US stablecoins currently dominate 99% of the market. Europe benefits from the unified regulatory framework of MiCA, which ensures user protection through high compliance burdens like full reserves and significant capital requirements, contrasting with the US's lighter, innovation-focused approach that allowed issuers like Circle and Tether to scale rapidly. Chen suggests that while MiCA is a strong foundation, Europe needs faster authorization for CASPs, stronger support for multi-bank reserve models like the new BaFin-regulated EURAU, and harmonized implementation to avoid fragmentation. To stay competitive, the EU must move from policy clarity to operational readiness, focusing on integrating MiCA-compliant euro stablecoins with instant payment systems and developing Level-2 standards and explicit rules for yield-bearing products. Chen concludes that while Europe has regulatory clarity, it is unlikely to overtake the US in the next 3-5 years unless it accelerates innovation and infrastructure development to leverage its regulatory head start.

(Source：BeInCrypto)