# USDE in DE — Stablecoin × Country Checker | StableRadar

> USDE in DE: issuer licence records, token approvals, applicable laws and licensed providers with official primary sources and check dates. Not legal advice.

Canonical: https://stableradar.com/check/usde/de
Generated: 2026-11-13T12:44:21.462Z (live figures are a snapshot at build time; see the canonical page for current values)

# Stablecoin × country checker: USDE in Germany
Public licence, token-approval, law and provider records with official sources. Part of [Regulatory Intelligence](https://stableradar.com/regulation/intelligence).

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### USDE in 🇩🇪 Germany
Issuer: [Ethena](https://stableradar.com/issuer/ethena) · records from StableRadar datasets as of 2026-10-26. This is a list of public records, not an assessment of whether USDE may be used in Germany.

[USDE · Stablecoin profile →](https://stableradar.com/coin/usde)

#### Issuer licence records
No MiCA authorisation — BaFin ordered wind-down of Ethena GmbH USDe business

Dataset status: Confirmed Non-Compliance

BaFin

15 Apr 2025

bafin.de ↗

dataset as of 2026-10-26

#### Token approval by a regulator
Not verified — no token-level regulator record for USDE in Germany in the dataset.

#### Applicable laws & status
Markets in Crypto-Assets Regulation (EU) 2023/1114 (MiCA)

Dataset status: In force

EBA, ESMA, national competent authorities

31 May 2023 · effective Titles III–IV (ART/EMT): 30 Jun 2024; full application 30 Dec 2024

European Union

eur-lex.europa.eu ↗

link checked 2026-10-26

MiCA full application (CASPs)

Dataset status: In Force

30 Dec 2024

European Union (implementation milestone)

esma.europa.eu ↗

link checked 2026-10-26

ESMA expectations — non-MiCA stablecoins

Dataset status: Published

8 Oct 2026 (per TZ)

European Union (implementation milestone)

Not verified

dataset link ↗

#### Licensed providers supporting it
BitGo

Federal Financial Supervisory Authority (BaFin)

09/05/2025

MiCA CASP, home member state DE

esma.europa.eu ↗

dataset as of 2026-10-26

ethena.fi ↗

Not legal advice. StableRadar does not state whether any stablecoin is allowed or forbidden anywhere. Records are shown as published in the linked official sources; “Not verified” means the dataset has no official primary source for that item. Check the source and seek professional advice.

Last updated: 26 Oct 2026 · Sources: [CoinGecko](https://www.coingecko.com/), [DefiLlama](https://defillama.com/stablecoins), [XRPL](https://xrpl.org/)