Stablecoins (ART / EMT)
Significant Asset-Referenced Token
An ART designated by the EBA under Article 43 — subject to direct EBA supervision and stricter prudential standards.
Definition
A significant ART is one designated by the EBA based on customer base, transaction volume, market capitalisation, interconnections with the financial system, and cross-border issuance scale. Triggers direct EBA supervision via a supervisory college and stricter capital, liquidity, and reporting requirements.
Regulatory citation