Stablecoin Evidence Report — Q3 2026

25 Aug 2026

Licence, white paper, attestation and bank relationship are four artefacts with four jobs. This report reads them separately for major USD and EUR issuers and lists holder-rights gaps.

Specialist research for payments, treasury, exchange and banking counterparties.

Highlights

MiCA EMT authorisation and NYDFS trust supervision are not interchangeable.
Attestations are dated procedures, not group statutory audits.
Holder rights on insolvency remain the most weakly drafted public field.

RCA publishes source-linked intelligence for professionals. Nothing here is a token-buying call, a legal opinion, or an “approved / safe / regulated” badge. Every material claim is dated. Incomplete files stay incomplete.