Wirex, the global stablecoin payments platform and principal member of Visa and Mastercard, has released a new whitepaper on ‘Status of Digital Payments: Italy and Europe under MiCAR’, forecasting that euro-denominated stablecoins and agentic payments will reshape the continent’s financial landscape under the EU’s new MiCAR regulatory era.
The report outlines how stablecoin-native neobanks could emerge as the next generation of digital finance — combining the programmability of crypto with the trust of regulated payments.
“The world has moved from mobile banking to programmable money,” said Pavel Matveev, Co-Founder of Wirex. “Stablecoins are not just a crypto use-case anymore — they’re the backbone of a new financial stack where payments become intelligent, self-executing, and borderless.”
Key Findings
- €1 Trillion Stablecoin Market – Based on adoption rates and regulatory clarity, Wirex projects Europe could see 10–15× growth in stablecoin circulation this decade, driven by MiCAR-compliant euro tokens.
- ‘Agentic Payments’ on the rise – The paper introduces the concept of agentic payments: AI- and smart-contract-driven transactions that act autonomously on behalf of users — optimising spending, yield, and compliance in real time.
- Shift from USD to EUR stablecoins – With 90–95% of global stablecoins still dollar-denominated, Wirex calls for coordinated EU incentives to promote EUR-backed tokens as a strategic priority for monetary sovereignty.
- MiCAR as catalyst, not constraint – Far from limiting innovation, MiCAR’s harmonised framework is already attracting fintechs to regulated hubs like Italy, where Wirex has established its European headquarters in Milan.
- Compliance as competitive edge – Wirex’s own experience under MiCAR shows how ‘regulation-by-design’ can build trust and accelerate adoption, turning compliance into a growth strategy.
A New Generation of Stablecoin Neobanks
The report predicts the emergence of a new banking model — stablecoin-native challenger banks — that combine non-custodial wallets, on-chain settlement, and Visa-linked cards, allowing users to spend stablecoins directly with instant fiat conversion and embedded yield.
Wirex Co-Founder Dmitry Lazarichev commented: “The implementation of MiCAR marks the beginning of a new chapter for digital finance in Europe. It lays the foundation for innovation grounded in accountability, ensuring that progress in this sector benefits both the market and its participants.”
This hybrid model, Wirex argues, will power ‘Banking 3.0’: programmable accounts capable of automated bill payments, yield allocation, and smart subscription management, all secured by blockchain rails.
Policy Outlook
The whitepaper recommends a coordinated EU effort to:
- Harmonise MiCAR implementation across Member States;
- Expand regulatory sandboxes for agentic and stablecoin-based payments;
- Establish incentives for EUR-stablecoin adoption at merchant and scheme level; and
- Ensure interoperability between the digital euro and private stablecoins.
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