Europe Has 29 Regulated Stablecoins Under MiCA, So Why Zero Asset-Backed Ones?

Europe’s regulated stablecoin market is growing under the Markets in Crypto-Assets Regulation (MiCA), but one entire category remains empty. Nearly two years after MiCA took full effect, not a single asset-referenced token has been authorized in the EU. Data from the European Securities and Markets Authority (ESMA) shows 19 licensed issuers and 29 regulated stablecoins, while the parallel track for commodity- and basket-backed tokens is at zero. What the Numbers Actually Show MiCA, which came into full force on December 30, 2024, splits regulated stablecoins into two distinct categories source: https://beincrypto.com/mica-zero-asset-referenced-tokens-stablecoin-gap/