Issuance is the part of this market people talk about most loosely. A token that references the euro is straightforward to create and very difficult to issue lawfully, and the gap between those two things is the whole subject.
Here is what the framework requires and where NGPES stands. This is not an offer, and NGPES does not issue a stablecoin today.
The composition of the reserve, how it is held, and who safeguards it.
The right to redeem at par, and the process for exercising it.
The competent authority, and the authorisation the issuer holds.
The plan for orderly wind-down, and what holders can expect if it is used.
Before MiCA, a euro-referenced token was a commercial product with an unclear legal home. The framework gave it one, and in doing so drew a hard line between tokens issued inside the regime and tokens issued outside it.
For a business choosing what to hold or accept, the practical effect is that the token's regulatory status is now a real operational fact rather than a footnote. A regulated European provider can hold one group and not the other, which is why NGPES supports selected MiCA-compliant stablecoins only.
For a would-be issuer, the effect is that issuance became a licensed activity with reserve, redemption, disclosure and supervision obligations attached to it permanently.
Stated plainly, because ambiguity here would be worse than useless.
Services become available only once the relevant CASP and EMI authorisations are obtained. Any description of future issuance on this page is forward-looking and depends entirely on those authorisations completing.
Useful whether or not NGPES ever issues one, and a better test than brand recognition.
| Question | Why it decides things |
|---|---|
| Is it inside the MiCA perimeter? | Determines whether a regulated European provider can hold it for you at all. |
| Who is the issuer and what are they authorised as? | Determines who you are actually exposed to. |
| What backs it and where is that held? | Determines what happens under stress, which is the only time it matters. |
| Can you redeem at par, and how? | Determines whether the balance is money-like or merely tradeable. |
| Which networks is it available on? | Determines whether it fits your counterparties' wallets. |
Businesses that ask these five before choosing an asset rarely have to change their mind later.
Where NGPES is authorised today.
NGPES is based in France and the platform supports selected MiCA-compliant stablecoins only, by design. Services will become available only upon obtaining the relevant CASP and EMI authorisations.
What NGPES states today.
| What NGPES states | |
|---|---|
| Reach | Funds move across 150+ countries via SEPA, SWIFT and local rails. |
| Stablecoin settlement | T+0. |
| Fiat settlement | T+1. |
| Processing | 24/7/365, with no end-of-day batch. Everything is processed in real time. |
| Conversion | Instant conversion between fiat, in USD, EUR and GBP, and stablecoins. |
| Exchange | 24/7 fiat to stablecoin exchange, with OTC support. |
For a per-country arrival time, a fee, or the supported asset and network list, talk to the team.
No. NGPES does not issue a stablecoin today. The platform supports selected MiCA-compliant stablecoins issued by others.
Authorisation as an issuer, reserves backing the token that are held and safeguarded to the required standard, a clear right for holders to redeem at par, published disclosure of the offering, and continuing supervision.
Payment Institution status today, with an EMI authorisation in progress through NGPES Payments in France and a CASP authorisation in progress through NGPES Digital in France.
No. It is an explanation of the framework and a statement of where NGPES currently stands. Services become available only upon obtaining the relevant CASP and EMI authorisations.
It determines whether a regulated European provider can hold it for you, whether it can be swapped, and what recourse you have as a holder.
Selected MiCA-compliant stablecoins. Confirm the specific asset with the team before building a flow around it.
Ask the team directly. The position changes as the applications progress.
Ask us directly. We will tell you what is confirmed and what is still in progress.
NGPES, Next Generation Payment EcoSystem, is a B2B payment infrastructure that enables businesses to send, receive, hold and move money efficiently across borders. Both fiat currencies and regulated stablecoins are integrated, for faster settlements, lower costs, and enhanced transparency. NGPES is based at 35 avenue de Friedland, 75008 Paris, and was ranked 83 in the Finance Innovation Fintech100 2025.
Interested in our solution? Talk to our team, or email sales@ngpes.com.
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