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XMoney’s Role in Europe’s MiCA-Compliant Stablecoins: Insights from Dr. Gregorios Siourounis

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Andrew Kamsky
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Europe is undergoing a major shift in digital finance, according to Dr. Gregorios Siourounis, former Managing Director of the SUI Foundation and now co-founder and CEO of XMoney Global.

An economist whose research was cited in the 2024 Nobel Prize in Economics, Siourounis has long been at the forefront of financial innovation and blockchain adoption.

In an interview with CCN, he shares insights on the European Union’s Markets in Crypto-Assets (MiCA) regulation , which aims to bring stablecoins and crypto asset services under clear compliance. MiCA was officially published in the Official Journal of the European Union (OJEU) on June 9, 2023, and has rolled out in two phases:

  • June 30, 2024 – Rules for stablecoins (asset-referenced tokens (ARTs) and e-money tokens (EMTs)) come into effect.
  • December 30, 2024 – Rules for crypto asset service providers (CASPs) (exchanges, custodians, trading platforms) will take effect.

MiCA: A Necessary Step for Crypto Compliance

MiCA is Europe’s first comprehensive regulation for the crypto sector, aiming to bring stability and compliance to the industry. Dr. Siourounis sees MiCA’s implications as far-reaching, from stabilizing the market to positioning Europe at the forefront of blockchain-powered finance.

“It’s one of the few cases where Europe is actually forward-looking compared to other big economies. MiCA is trying to put rules in place so crypto can be used in a safe and structured way,” he explains. However, MiCA is already making waves, particularly in its intention to delist unregulated stablecoins, including USDt, from European exchanges.

“It’s not just USDt,” Dr. Siourounis clarifies. “Any stablecoin that doesn’t comply with MiCA has to be removed. The reason is simple: they don’t follow any regulation. If an asset isn’t regulated, it’s not compliant, and exchanges don’t want to take that risk.” This move is a game-changer, effectively pushing crypto payment providers, exchanges, and fintech companies to adopt fully MiCA-compliant stablecoins if they want to operate in Europe.

 

Stablecoins: The Next Evolution of Digital Payments

Amid regulatory hurdles faced by traditional stablecoins, Dr. Siourounis’ company, XMoney Global, is stepping in with its own MiCA-compliant stablecoin offerings. XMoney is launching three stablecoins to address this regulatory gap:

  • EUROX – A fully regulated Euro stablecoin
  • USDX – A MiCA-compliant alternative to USDt and USDC
  • RONX – A Romanian Leu stablecoin, aimed at engaging the local community

“We’re applying with the Central Bank of Romania,” Dr. Siourounis explains. “It’s one of the most competent regulators in Europe, and we believe this will be a crucial step in bringing stablecoins into the mainstream.” What sets these stablecoins apart from previous offerings like USDt? Full transparency and compliance with MiCA. “Until now, stablecoins were operating in a grey area. MiCA is changing that,” he emphasizes. “Now, you can issue a stablecoin under clear rules, making it usable for European citizens—and also for anyone globally.”

The Euro vs. USD Stablecoins: Shifting Preferences

A key challenge for stablecoins in Europe is adoption. Historically, Europeans have favored synthetic USD stablecoins over Euro-based alternatives. Dr. Siourounis acknowledges this but predicts a shift as more use cases for Euro stablecoins emerge.

“People were using USD stablecoins because most transactions were with entities outside the EU. But as more use cases emerge inside Europe—merchants, payroll, bill payments—the demand for a Euro stablecoin will explode,” he forecasts. The moment merchants begin accepting stablecoins directly, the dynamics will change. Dr. Siourounis points out the key benefits:

“The biggest benefit? Instant settlement.” Currently, businesses pay Visa and Mastercard transaction fees ranging from 0.2% to 1.8%. Stablecoin payments, on the other hand, cost just a fraction of a cent. “And it’s not just about cost—settlement happens immediately,” he adds. “Instead of waiting 2 to 15 days for funds to clear, the money arrives instantly.” Stablecoins also offer a major trust advantage over physical cash.

“Think about it. You don’t know if the Euro bill in your hand is counterfeit, but a stablecoin is fully verifiable on the blockchain. That’s the future of money.”

Bitcoin, XRP, and the Future of Cross-Border Payments

While stablecoins are reshaping digital payments, Bitcoin continues to operate on a different level. Dr. Siourounis sees Bitcoin as a recognized asset class, serving as both a store of value and a means of transferring money. “Bitcoin has its own life now,” he explains. “It’s recognized as an asset class, a store of value, and a means of transferring money over time. MiCA doesn’t change that.”

Turning to XRP, he highlights its potential in solving the global problem of cross-border payments. “XRP is solving a real problem—cross-border payments,” he says. “Right now, sending money from Africa to Europe is painfully expensive—up to 12% in fees. Crypto eliminates that friction.” Dr. Siourounis envisions stablecoins and blockchain payments as powerful tools for breaking down financial barriers between Europe and Africa. “Africa has 800 million people, the fastest-growing populations, and the highest concentration of raw materials. Unlocking financial access changes everything,” he adds.

XMoney is already working on expanding into Africa and Latin America, with plans to secure a new license in Bahrain to penetrate the MENA (Middle East and North Africa) market.

MiCA’s Impact: What It Means for Developers, Investors, and AI

MiCA presents both opportunities and challenges for developers and investors. Dr. Siourounis urges developers to focus on building real-world applications for blockchain payments, noting key areas of opportunity such as:

  • Payments – Integrating stablecoins for merchants
  • KYC & Identity Verification – Using blockchain to streamline compliance
  • DeFi – A growing sector soon to be regulated

For investors, Dr. Siourounis recommends watching companies that are building the infrastructure for the future of payments, particularly those combining blockchain, stablecoins, and AI.

“Anything that combines blockchain, stablecoins, and AI is where the real innovation is happening,” he predicts.

XMoney itself is researching AI-powered payments, with plans to integrate AI into blockchain transactions. “We’re working on AI-driven payments—where AI agents can process transactions on your behalf. That’s where the next phase of finance is going,” Dr. Siourounis explains.

The Future of Stablecoins in Europe

MiCA is reshaping the European crypto landscape by forcing out unregulated stablecoins and pushing transparent, compliant alternatives to the forefront. Dr. Siourounis and XMoney see this as an exciting opportunity to be a part of the next digital finance revolution.

“Stablecoins will change finance as we know it. Once people realize they can get paid instantly, with almost no fees, the shift will be unstoppable,” he concludes.

As MiCA’s rollout continues, all eyes will be on companies like XMoney, which Dr. Siourounis claims is building the infrastructure required for Europe to seamlessly integrate into the global crypto industry.

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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Andrew Kamsky

Andrew Kamsky is a writer and chart analyst, holding a degree in Economics and an ACCA certification. Andrew’s professional background spans roles at a Big Four accountancy firm, a fintech bank, and a chart analyst position at a listed bank focusing on foreign currency hedging. Beyond his financial career, Andrew is passionate about music, glass neon lights and travel.
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