Optimise your treasury operations with MiCA-compliant stablecoins.
EURSM and USDSM are EU-authorised Electronic Money Tokens, issued under MiCA Title IV. Hold them as your operating reserve. Receive fiat in any major currency, send fiat out the same way, or settle directly to third-party stablecoin wallets. Redeem at par, on demand.
Hold the reserve
in a regulated EMT.
You hold a stablecoin reserve against day-to-day obligations: settlement, payouts, working capital. The reserve asset itself matters.
If you are a MiCA-authorised firm, you can only hold stablecoins issued by EU-authorised EMIs. EURSM and USDSM are exactly that: hold them against any payment obligation, redeem at par to fiat in any major currency, or send directly to third-party stablecoin wallets on any supported chain.
Treasury composition
EUR 
USD 
GBP 
SEK 
HKD 
CHF SEPA · SWIFT · FPS · domestic rails
EURSM
USDSM Held in your Stable Mint Wallet · MiCA Title IV EMT
Live on Etherlink · Ethereum · Base · ArbitrumThird-party wallets on any supported chain · routed via Stable Mint liquidity
Hold value in EURSM or USDSM as a regulated reserve, redeem to fiat in any major currency in seconds, or send to third-party stablecoin wallets on any supported chain. All flows route through your Stable Mint Wallet under a single EU EMI authorisation.
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
Reserve assets are safeguarded across three regulated EU credit institutions, with no single-counterparty concentration. Both EURSM and USDSM are pausable and support compliance-driven address freezing at the contract level, operationally relevant for any regulated platform operator with downstream compliance, licensing, or counterparty obligations.
Why this matters now.
A non-compliant reserve counterparty
Your operating reserve most likely sits in a stablecoin from an issuer with no EU EMI authorisation under MiCA Title IV. For a MiCA-authorised firm, that is now a counterparty problem, not a treasury one.
No grandfathering from July 2026
Transitional grandfathering closes at the end of June 2026. From July 2026 there is no exemption: a stablecoin from any issuer without EU EMI authorisation under MiCA Title IV is an unregulated counterparty, and can no longer be held as a reserve by a MiCA-authorised firm.
A compliance question, not a treasury one
If you have a regulated counterparty, partner, or merchant in scope, the reserve asset stops being a yield-and-ops decision and becomes a compliance decision.
Four capabilities
decided the reserve.
An EU-authorised EMT issuer
EURSM and USDSM are issued under MiCA Title IV by Stable Mint as an EU-authorised EMI. The reserve counterparty is a regulated financial institution, not a third-party issuer.
Statutory 1:1 par redemption
A statutory redemption right at par under MiCA, a counterparty obligation rather than discretion. The prior non-compliant stablecoin gave you neither.
Three-bank safeguarding
Reserve assets sit across three regulated EU credit institutions, ring-fenced from the issuer's own funds. No single-counterparty concentration.
Multi-chain, no migration
USDSM is live on Etherlink, Ethereum, Base and Arbitrum via LayerZero V2 OFT. Same wallet, same liquidity routing, same reporting. No retraining cycle.
The verdict
Your wallet infrastructure, on-chain liquidity, and operations carry straight over from a USDT reserve. What changes is the regulatory counterparty, and everything that follows from it.
From USDT to USDSM,
in three steps.
Confirm the USDSM contract address and approve
USDSM on Etherlink: 0x6bDE51212203aE5d592Cc5180DA2ABBd41c922dE. ERC-20 upgradeable, pausable, audited. Approve the spend on Curve v3.
Swap USDT for USDSM via Curve v3
Execute the swap. ~$1M pool depth on Curve v3 for Day 1 migrations; Kraken added as an alternative conversion venue at scale. Instant settlement on-chain.
Hold USDSM as your operating reserve
Use as a regulated reserve asset on your balance sheet. Redeem at par via Stable Mint when fiat is required: SEPA, SWIFT, FPS, or domestic SEK via Multitude.
For your treasury team.
The questions your CFO, audit team, and regulated counterparties are asking, and the answers when the reserve sits in USDSM.
USDSM: full EU EMI authorisation by the MFSA, MiCA Title IV EMT issuance. The issuer is a regulated financial institution.
USDSM: 1:1 par redemption right under MiCA Title IV. A counterparty obligation, not counterparty discretion.
USDSM: reserve assets safeguarded across three regulated EU credit institutions, with no single-counterparty concentration.
USDSM: a regulated EMI subject to MFSA prudential supervision, with reserve assets ring-fenced from the issuer's own funds under MiCA.
USDSM: out of scope of grandfathering. It already meets the post-cliff requirement.
USDSM: treated as a claim against a regulated EMI, redeemable at par. A cleaner audit position than a claim against a non-compliant stablecoin issuer.
What changes when you switch.
A cleaner audit and balance-sheet position
Your reserve becomes a claim against a regulated EMI, redeemable at par, rather than against a non-compliant stablecoin issuer. The audit conversation gets simpler and the balance-sheet treatment cleaner.
MiCA-authorised, not grandfathered
EURSM and USDSM are issued under MiCA Title IV by an EU-authorised EMI, never reliant on transitional grandfathering. The reserve meets the requirement in its own right, not on a temporary exemption.
Same-day redemption, six currencies
A statutory 1:1 par redemption settles same-day across six major currencies via SEPA Instant, SWIFT, FPS or domestic rails. Operating liquidity stays liquid, not locked in the reserve asset.
No migration, no retraining
USDSM is live on Etherlink, Ethereum, Base and Arbitrum. Same wallet, same liquidity routing, same reporting: the switch from USDT is a ten-minute on-chain swap, not a treasury re-platforming.
We had USDT, not USDC, on our balance sheet and we couldn't tell our auditors why a non-compliant issuer was the right counterparty. Moving to USDSM was a 10-minute on-chain swap. The audit conversation got simpler immediately.
Where to next?
Explore how other businesses use Stable Mint, or talk to our team about migrating your treasury reserve.