Stablecoin / e-money token issuer
A stablecoin issuer authorisation lets a company issue tokens pegged to a currency or a basket of assets. MiCA splits these into e-money tokens, which only a credit institution or EMI may issue, and asset-referenced tokens, which need their own separate authorisation. Singapore, Hong Kong and the UAE, among others, run their own dedicated stablecoin regimes outside the EU.
Where the EMT/ART licence is available
Comparison by country
| Country | Regulator | Min. capital | Statutory time | Passport |
|---|---|---|---|---|
| Luxembourg | CSSF | n/a | n/a | EU/EEA |
| Netherlands | DNB | n/a | 7.9 mo | EU/EEA |
| Netherlands | DNB | n/a | n/a | EU/EEA |
| Spain | BdE | n/a | n/a | EU/EEA |
| United Arab Emirates | CBUAE | n/a | 2.8 mo | Domestic |
Values come from each country's page, where every figure has its source.
Activities this family typically covers
All licences in this family
- EMT/ART · Luxembourg
Electronic money token issuer authorisation / notification
Electronic money token issuer authorisation / notification under MiCA RegulationCSSF
- EMT/ART · Netherlands
Asset-referenced token (ART) issuer licence
Asset-referenced token (ART) issuer licence under EU MiCADNB
- EMT/ART · Netherlands
E-money token (EMT) issuer notification
E-money token (EMT) issuer notification under EU MiCADNB
- EMT/ART · Spain
MiCA EMT and ART token issuer authorization
BdE
- EMT/ART · United Arab Emirates
Payment Token Issuer Licence (Dirham Payment Tokens)
CBUAE
Sources
- MiCA Regulation (EU) 2023/1114, Titles III and IV · retrieved 2026-09-24
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