Coinbase will automatically convert balances of 14 stablecoins still sitting in European Economic Area (EEA) retail accounts into USDC when a scheduled conversion runs on Friday, Oct. 30, according to a notice published on the exchange's help center.

The roster spans a wide slice of the stablecoin market. Tokens named by Coinbase include Tether's USDT, PayPal's PYUSD, and World Liberty Financial's USD1, with the complete list of 14 set out in the help-center notice. USDT is the largest stablecoin by market value, giving the conversion broad reach among European retail holders, and customers can check the notice to confirm whether the tokens they hold are on the list.

USDC, the destination asset, is issued by Circle and is authorized under the European Union's Markets in Crypto-Assets (MiCA) regulation, which requires stablecoin issuers serving European customers to obtain local authorization. The framework's stablecoin rules have applied in the bloc since mid-2024, and exchanges serving the region have since restricted tokens whose issuers lack that authorization. Coinbase, which partners with Circle on USDC, has been steering its EEA customers toward MiCA-compliant stablecoins and has previously tied earlier rounds of EEA stablecoin conversions to the regulatory framework. For retail users in the region, the scheduled conversion means balances in the listed tokens will be redenominated into a stablecoin authorized under the EU regime.

The EEA comprises the EU's 27 member states together with Iceland, Liechtenstein, and Norway, meaning the scheduled conversion covers retail customers across that entire region.

This article was first published on COINOTAG: https://en.coinotag.com/coinbase-converts-14-stablecoins-usdc-october-30