Is USDC allowed under MiCA?

Yes. Circle's French subsidiary, Circle Internet Financial Europe SAS, issues USDC in the EU as an e-money institution licensed by the ACPR. On 14 October 2026 the European Banking Authority classified USDC as the first significant e-money token in the EU, which brings EBA supervision of its reserves from 12 November 2026.

Can a payee at an e-money institution receive SEPA Instant?

Not always yet. Under the Instant Payments Regulation, e-money and payment institutions have until 9 April 2027 to be able to receive instant euro payments. If the payee's provider can't receive them yet, send a standard SEPA transfer instead.

Does SEPA Instant cost more than a standard SEPA transfer?

Not in the euro area. Since 9 January 2025, the Instant Payments Regulation has barred providers there from charging more for an instant euro transfer than for a standard one. Providers in non-euro EU countries must follow from 9 January 2027.

Should I use EURC instead of USDC?

If your income and costs are in euros, a euro stablecoin avoids a dollar to euro conversion at each step. EURC is Circle's euro token, issued in the EU by the same French entity, and Align supports it on Ethereum, Avalanche, Base and Solana. USDC fits better when your counterparties pay in dollars.

How to convert USDC to EUR and send it to a bank account

USDC is converted as part of a euro payout and reaches the payee's IBAN by SEPA Instant within 10 seconds or by standard SEPA within one business day. It's authorized under MiCA, and from 12 November 2026 the European Banking Authority supervises its reserves.

By Pavel Skalin, Founder & CEO, Align · Reviewed by the Align compliance team
Updated 22 October 2026 · 5 min read

This is a guide, not a financial promotion. It isn't an offer of crypto-asset services in the EU and isn't a recommendation to buy, sell or hold any crypto-asset.

Regulatory warning. Crypto-assets, including stablecoins, may lose their value in part or in full, may not always be transferable and may not be liquid. They aren't covered by EU investor compensation schemes (Directive 97/9/EC) or deposit guarantee schemes (Directive 2014/49/EU); these are the warnings MiCA requires in crypto-asset white papers. In October 2025, the EU's financial supervisors (ESMA, the EBA and EIOPA) warned that crypto-assets can be risky and that legal protection, if any, may be limited. Align Payments Ltd. is registered with FINTRAC in Canada as a money services business (no. N300000203). It isn't authorized under MiCA, and no EU authority has reviewed or approved this page.

The short answer

Move USDC into your Align balance on Ethereum, Solana, Base, Polygon, Arbitrum, Optimism or Avalanche, then make a EUR payout. The USDC is converted as part of the payment, and the euros reach the payee's IBAN by SEPA Instant within seconds, or by standard SEPA within one business day. USDC is authorized under MiCA, issued in the EU by Circle's French e-money institution.

At a glance

	USDC to EUR
Networks Align accepts for USDC	Ethereum, Solana, Base, Polygon, Arbitrum, Optimism, Avalanche
Payout rails	SEPA Instant and standard SEPA, to IBANs in the 41 SEPA countries
How long the rail takes	SEPA Instant: within 10 seconds, every day of the year. Standard SEPA: one business day at most
Who can receive	Your company's own account, or a third party such as a supplier; Align may ask for the invoice
Pricing	Quoted on request: contact us

Step by step

Deposit native USDC. Send it on a network Align accepts, to the matching deposit address, with a test amount first. On Arbitrum, Polygon and Optimism, check it's Circle's native USDC and not bridged USDC.e, and confirm with Align which contract it accepts.
Collect the payee's IBAN and name. Within the EEA, the IBAN is enough; the Bundesbank notes that payers haven't needed the BIC there since 1 February 2016. For a bank in a SEPA country outside the EEA, such as Switzerland or the UK, add the BIC.
Decide between instant and standard. SEPA Instant suits a payment that has to land today, including at weekends. If the payee's provider doesn't take instant payments yet, use standard SEPA.
Convert and send. The USDC in your balance is converted as part of the EUR payout.
For supplier payments, the payment goes through your named virtual account, and Align may ask for the invoice behind it.

USDC's status in the EU

Circle Internet Financial Europe SAS, Circle's French subsidiary, holds an e-money institution license from France's ACPR and has issued USDC and EURC in the EU under MiCA since July 2024. On 14 October 2026, the European Banking Authority classified USDC as the first significant e-money token in the EU, out of 45 notified under MiCA. From 12 November 2026, the EBA supervises USDC's own funds, reserve of assets, liquidity, and recovery and redemption plans; the ACPR keeps governance, fit and proper checks and outsourcing.

In practice, USDC remains a token EU providers can offer services for. USDT isn't authorized under MiCA, and on 8 October 2026 ESMA told national regulators that providers should cease services related to stablecoins that aren't MiCA-compliant, as the USDT to EUR page explains. Circle's USDC page showed 71.9 billion USDC in circulation on 19 October 2026, and Circle publishes monthly reserve attestations by a Big Four accounting firm.

USDC is a dollar token, so paying euros from it involves a dollar to euro rate. Circle Mint redeems USDC 1:1 for dollars and EURC 1:1 for euros for institutional customers, with SEPA transfers available through participating banks in limited regions. If your counterparties already pay you in euros on chain, EURC avoids the currency step.

Standard SEPA or SEPA Instant

	Standard SEPA	SEPA Instant
Arrival	Within one business day	Within 10 seconds
Hours	Banking business days	24 hours a day, every day
Scheme maximum	None	None since 5 October 2025; providers may set limits
Price in the euro area	The provider's tariff	No more than standard SEPA since 9 January 2025
Reach, April 2026	41 SEPA countries	36 of the 41

Instant is now a large share of SEPA traffic. In the first quarter of 2026, 35.6% of SEPA credit transfers were instant, and 10.1 billion instant transfers were made in 2025, up 73% on 2024, according to European Payments Council figures presented to the ECB's AMI-Pay group on 6 May 2026. The SEPA Instant vs SWIFT guide covers euro payments to banks outside SEPA, and the named vs pooled IBAN guide covers the payee name check.

How this works with Align

Align sends euros over SEPA and SEPA Instant from a named virtual account in your company's name, with your company shown as the account holder. Money you receive lands in your balance as USDC or USDT, and the stablecoin is converted when you pay. Regulated services are provided through licensed banking partners, and Align doesn't issue stablecoins. Align is registered with FINTRAC in Canada as a money services business. It isn't authorized under MiCA, and this page is not an offer of crypto-asset services in the EU.

Sources

Align docs, Blockchains and stablecoins and 1st party and 3rd party payments
Circle, Circle is first global stablecoin issuer to comply with MiCA (July 2024)
European Banking Authority, USDC classified as the first significant e-money token in the EU (October 2026)
Circle, USDC (19 October 2026), Transparency and Circle Mint
Circle, USDC on Arbitrum (June 2023) and Native USDC on Polygon PoS (September 2023)
ESMA, Supervisory expectations on services related to unauthorized stablecoins and the Opinion on crypto-asset services for non-MiCA-compliant ARTs and EMTs (8 October 2026)
ESMA, Interim register of e-money token white papers
European Central Bank, Instant Payments Regulation
European Payments Council, SEPA Instant Credit Transfer and SEPA Credit Transfer
European Payments Council, Update on payment schemes and VoP deployment (May 2026)
Deutsche Bundesbank, SEPA Credit Transfer
European Supervisory Authorities (ESMA, EBA, EIOPA), EU Supervisory Authorities warn consumers of risks and limited protection for certain crypto-assets and providers (October 2025)
European Union, Regulation (EU) 2023/1114 (MiCA), Articles 6(5) and 51(4) (accessed October 2026)

Common questions

Is USDC allowed under MiCA?: Yes. Circle's French subsidiary, Circle Internet Financial Europe SAS, issues USDC in the EU as an e-money institution licensed by the ACPR. On 14 October 2026 the European Banking Authority classified USDC as the first significant e-money token in the EU, which brings EBA supervision of its reserves from 12 November 2026.
Can a payee at an e-money institution receive SEPA Instant?: Not always yet. Under the Instant Payments Regulation, e-money and payment institutions have until 9 April 2027 to be able to receive instant euro payments. If the payee's provider can't receive them yet, send a standard SEPA transfer instead.
Does SEPA Instant cost more than a standard SEPA transfer?: Not in the euro area. Since 9 January 2025, the Instant Payments Regulation has barred providers there from charging more for an instant euro transfer than for a standard one. Providers in non-euro EU countries must follow from 9 January 2027.
Should I use EURC instead of USDC?: If your income and costs are in euros, a euro stablecoin avoids a dollar to euro conversion at each step. EURC is Circle's euro token, issued in the EU by the same French entity, and Align supports it on Ethereum, Avalanche, Base and Solana. USDC fits better when your counterparties pay in dollars.

This page is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.