MiCA-compliant stablecoin custody and regulated EUR/USD rails for a Swiss VASP.
Blockfort AG needed to hold client value in MiCA-compliant stablecoins, without routing fiat through its own banks. Stable Mint became its regulated payment infrastructure, end to end.
Six fiat rails,
two native stablecoins.
EUR
USD
GBP
SEK
HKD
CHF SEPA, SWIFT and FPS rails via BankingCircle, across six supported currencies.
EURSM
USDSM Any digital asset wallet supports EURSM and USDSM. USDSM is live on Etherlink, Ethereum, Base and Arbitrum via LayerZero V2 OFT - 12 cross-chain pathways.
Regulated at every layer.
- Licence
- MFSA Electronic Money Institution
- Token regime
- MiCA Title IV · Art. 48-58
- Reserves
- 3 regulated credit institutions
- Redemption
- 1:1 at par · statutory right
Reserves sit across three regulated credit institutions, so no single counterparty holds them all. Both EURSM and USDSM can be paused, and addresses frozen, where compliance requires - the same four-eye controls Blockfort's PwC-audited framework already runs.
A custody-led VASP, built on regulated infrastructure.
Blockfort AG is a Zug-based crypto storage-as-a-service provider, regulated as a VQF SRO member under FINMA oversight. Founded as a joint venture between two established Zug entities, it serves financial institutions, asset managers, funds, family offices and high-net-worth individuals.
The business is custody-led: client assets sit in segregated vaults under Fireblocks MPC, with Elliptic for AML screening and Sumsub for KYC/KYB, backed by a clean PwC ISAE 3402 Type 2 opinion across all seven control objectives.
Three constraints
shaped the brief.
60-day fiat custody limit
Swiss VASP rules bar Blockfort from holding client fiat beyond 60 days, or pooling it at all. Incoming fiat had to convert to a custody-compatible asset on receipt.
Banking concentration risk
Blockfort's own banking had to stay clean. Routing client fiat through it created concentration and regulatory exposure the business wanted to avoid.
Demand for regulated denominations
Institutional clients wanted MiCA-compliant EUR and USD stablecoins, from an issuer they could underwrite as a regulated counterparty.
One regulated counterparty,
fiat-in to stablecoin custody.
Client funds flow through the Stable Mint-operated vIBAN, never through Blockfort's own banks, keeping its banking relationships clean.
Four capabilities
decided the partnership.
Named virtual IBAN for collections
A Blockfort-named vIBAN via BankingCircle. Client fiat lands there, never on Blockfort's own banking, and reconciles by reference to Blockfort's client ledger.
MiCA-compliant stablecoin custody
EURSM and USDSM are issued under MiCA Title IV by Stable Mint, an EU-authorised EMI. Client balances sit in regulated EMTs, not third-party stablecoins.
One regulated counterparty
A single EMI licence spans fiat-in, mint, custody, redemption and fiat-out. One counterparty across the lifecycle, not a stitched stack of vendors.
Compliance calibrated for ISAE 3402 firms
Role-based access, principal approvals, MFA, whitelisted beneficiaries and Travel Rule support - the controls Blockfort's team already runs, native on the platform.
What changed for Blockfort.
Real-time on-ramp
Client EUR and USD reach the custody vault instantly, down from T+2 on legacy rails.
One counterparty
Fiat-in, mint, custody and fiat-out under a single EMI licence, not a stitched stack of vendors.
Ring-fenced reserves
Safeguarded across three EU credit institutions, with a statutory 1:1 redemption right under MiCA.
Regulated stablecoins
EURSM and USDSM, held as client balances, redeemable to fiat at par.
Stable Mint gave us a regulated route to deliver stablecoin balances to our institutional clients - with the compliance controls our auditors already understand, and the rails we needed to keep our own banking clean.
Where to next?
Explore how other businesses use Stable Mint, or talk to our team about your own integration.