Reference · inactive
Inactive and wind-down euro stablecoins
Euro stablecoins that are winding down, have been delisted, or are no longer actively issued. Includes reason, current redemption options, and timeline where publicly disclosed.
Inactive or winding down
4
tracked by eurostablecoins.xyz
Nearest open redemption deadline
Mar 2027
EURA · app.angle.money (EURT already closed Nov 2025)
Primary cause
MiCA
EU regulation driving market exit
Why we track inactive coins. Understanding which euro stablecoins have wound down — and why — is as important as tracking active ones. Wind-downs reveal the regulatory and commercial pressures shaping the market. MiCA enforcement is the primary driver: issuers without EU EMI licenses are exiting the EEA market. This page tracks wind-down status, redemption mechanics, and verified timelines.
EURT · Euro TetherDiscontinued| Issuer | Tether |
| Legal entity | Tether Limited |
| Jurisdiction | Hong Kong (non-EU) |
| Regulator | None (never an EU MiCA EMT) |
| Chains | Ethereum, Polygon |
| Backing | Historically 1:1 EUR within Tether’s consolidated group reserves reporting; no standalone EURT attestation was published |
Wind-down reason
Tether announced the wind-down of EURT on 27 November 2024, citing the EU regulatory environment (MiCA) as part of a community-driven product strategy. New issuance had effectively stopped since 2022. Rather than issuing a MiCA-compliant euro token itself, Tether took strategic stakes in EU-licensed euro issuers (Quantoz EURQ, StablR EURR).
Redemption· Deadline: November 27, 2025 (passed)
Redemptions CLOSED. Per Tether’s closing update, redemption support ended on 27 November 2025 across all chains. Tokens remaining on-chain are no longer redeemable with the issuer.
Redemption page ↗Key events
2024-11-27
Tether announced it would wind down EURT, citing the EU regulatory environment, and set a 12-month redemption window.· Tether
2025-11-27
Per Tether’s closing update, redemption support for EURT ceased; remaining on-chain tokens are no longer redeemable with the issuer.· Tether
EUROe · EUROe (Membrane Finance / Paxos)Decommissioned — redemption-only| Issuer | Membrane Finance / Paxos |
| Legal entity | Paxos Issuance Europe Oy (formerly Membrane Finance Oy) |
| Jurisdiction | Finland (EU) |
| Regulator | FIN-FSA — authorised EMI; EUROe EMT white paper notified 29 Jun 2024 (ESMA interim MiCA register) |
| Chains | Ethereum, Polygon, Avalanche, Optimism |
| Backing | 1:1 EUR e-money per the issuer’s MiCA EMT white paper; reserves historically at EU/EEA credit institutions |
Wind-down reason
Paxos acquired Membrane Finance (completed 4 February 2025) and decommissioned the EUROe product, retaining the Finnish EMI licence for its other EU products. The Paxos notice (published 11 June 2026) places EUROe in Redemption-Only Mode: no new minting or trading.
Redemption
Redeemable 1:1 for EUR via SEPA transfer after KYC, per the Paxos notice. No deadline has been published. euroe.com redirects to the Paxos redemption page.
Redemption page ↗Key events
2025-02-04
Paxos completed the acquisition of the Finnish e-money institution Membrane Finance Oy, issuer of EUROe; the entity was renamed Paxos Issuance Europe Oy.· Paxos
2026-06-11
Paxos notice: EUROe is decommissioned — no new minting or trading; 1:1 EUR redemption via SEPA after KYC.· Paxos
AEUR · Anchored EuroWinding down| Issuer | Anchored Coins AG |
| Legal entity | Anchored Coins AG |
| Jurisdiction | Switzerland |
| Regulator | Swiss SRO (non-EMI, non-MiCA) |
| Chains | Ethereum, BNB Chain |
| Backing | 1:1 EUR reserves at Swissquote Bank SA (per issuer homepage at time of wind-down announcement) |
Wind-down reason
MiCA non-compliance — Anchored Coins AG is a Swiss entity and is not an EU-licensed Electronic Money Institution. It announced it will not issue new AEUR tokens and is withdrawing from the stablecoin business in an orderly manner.
Redemption
Redemption accepted only for amounts exceeding €250,000. Institutional holders only. Consult anchoredcoins.com for current redemption mechanics.
Redemption page ↗Key events
2025-03-31
Binance delists AEUR for EEA users
Binance delisted AEUR and other non-MiCA-compliant stablecoins for EEA users as part of its MiCA-compliance transition.· The Block
EURA · EURA (Angle Protocol)Winding down| Issuer | Angle Protocol (Angle DAO) |
| Legal entity | No licensed legal entity — decentralized protocol governed via Angle DAO |
| Jurisdiction | Decentralized protocol |
| Regulator | None (decentralized) |
| Chains | Ethereum, Polygon, Arbitrum, Optimism, Base, Gnosis, Celo, BNB Chain |
| Backing | Over-collateralized with crypto (ETH, USDC, wBTC) + Transmuter PSM — decentralized protocol collateral |
Wind-down reason
Angle Protocol announced an orderly wind-down of the EURA stablecoin. Every EURA is redeemable 1:1 via app.angle.money during the wind-down period. The protocol stated "Redeem before March 1, 2027."
Redemption· Deadline: March 1, 2027
Redeemable 1:1 via app.angle.money. Deadline: March 1, 2027. No minimum. No KYC required (protocol-level, permissionless).
Redemption page ↗Key events
2026-03-01
Angle Protocol announced the wind-down. EURA redeemable 1:1 via app.angle.money until March 2027.· Angle Labs
MiCA and the EUR stablecoin market
The EU Markets in Crypto-Assets Regulation (MiCA), effective June 2024, requires euro stablecoin issuers serving EEA users to hold an Electronic Money Institution (EMI) license or equivalent banking authorization from an EEA regulator. Issuers without such authorization must exit the EEA market.
Three of the four coins on this page fall outside the MiCA EMT framework — EURT because Tether chose to exit rather than seek EU authorization, AEUR because its issuer is a Swiss entity with no EU license, and EURA because there is no licensed legal entity at all. EUROe is the exception: it was a properly MiCA-notified EMT from a FIN-FSA-licensed EMI, decommissioned for commercial reasons after Paxos acquired its issuer.
Major exchanges including Binance began delisting non-MiCA-compliant euro stablecoins for EEA users in early 2025. This is an ongoing market transition, not an isolated event.
Data sourced from issuer disclosures, official wind-down announcements, and exchange delisting notices. Redemption mechanics and deadlines change — verify with the issuer before acting. Methodology → · MiCA status overview → · Active stablecoins →