The facts at the time
Issuer status and source references as submitted, so a later update doesn't rewrite what the agent knew.
MiCA
See why a stablecoin payment went through
If you run a treasury or payments agent, you want it settling in stablecoins without a person checking each transfer. That works when compliance can see the issuer facts, the rule that applied, and who reviewed the exceptions, all on the payment record.
An issuer that no longer qualifies
A supplier-payments agent proposes paying an invoice in a euro stablecoin. The issuer status it submits doesn't match the list your compliance team approved last month, so your rule escalates the payment to a treasury analyst instead of letting it run.
The analyst sees the asset, the issuer details the agent supplied with their source, and the rule version. They switch the payment to a different approved token. The payment system reports settlement, and the record links that outcome to the decision before it.
Two kinds of stablecoin, two rulebooks
Scroll horizontally to see all columns.
| Token type under MiCA | What it references | What your rule can check |
|---|---|---|
| E-money token (EMT) | One official currency, such as the euro | The issuer details your application reports against the list your team approved |
| Asset-referenced token (ART) | Another value or right, or a basket of them | The same issuer check, plus any asset-type limits your policy sets |
Issuer and service-provider authorization comes from the competent authorities. VeriProof records how your own controls responded to the facts your application supplied. Read ESMA's MiCA overview.
What stays on the payment record
The rule and the reviewer
The rule version, the outcome, and the analyst's decision when one was needed.
Decision and settlement, linked
Approval and settlement are separate events. The transaction reference ties them together.
MiCA payment questions
It checks the status your application supplies against your rules. Authorization itself comes from the relevant authority.
Yes. Your application reports the status and references from the sources your team already uses.
No. It covers a wider range of crypto-assets and services. This page covers stablecoin payments.