Stablecoins (ART / EMT)
Significant E-money Token
An EMT designated by the EBA under Article 56 — subject to direct EBA supervision and stricter requirements.
Definition
A significant EMT is designated by the EBA based on user count (10M+), outstanding amount (EUR 5B+), and cross-border use (7+ member states). Direct EBA supervision via supervisory college, higher capital, additional liquidity buffers, enhanced reporting.
Regulatory citation