Demo #8 · MiCA Title III · GENIUS Act · Stablecoin Issuer Hub

Reserve × Redemption × Safeguards MiCA Articles 35–42 @ainumbers.co/stablecoin-readiness-v1

The readiness scorecard your prudential regulator already runs in their head.

Model an issuer's reserve composition, redemption rights, and operational safeguards against the floors set by MiCA Title III (Articles 35–42) and the US GENIUS Act. Live composite readiness score, MiCA scorecard line-by-line, GENIUS payment-stablecoin classification check. Exports an AP2 mandate the issuer's risk committee can sign and the runtime can re-evaluate when supply moves.

Zero PII · Client-side MiCA Phase 2 live in EU · GENIUS Act sets US payment-stablecoin regime Last Reviewed · 2026-05-13

MiCA Title III · GENIUS Act — the two clocks issuers run against

MiCA (Regulation (EU) 2023/1114) Title III governs asset-referenced tokens (ARTs) and Title IV e-money tokens (EMTs). Articles 35–42 set reserve composition, segregation, redemption-at-par-on-demand, and authorisation duties; Article 111 carries penalties up to €5M or 5% of annual turnover, whichever is higher. The US GENIUS Act (2024) establishes the federal payment-stablecoin regime, bars interest payments to holders on payment stablecoins, requires 1:1 reserves in cash and short-dated Treasuries, and gives the OCC / Federal Reserve a path to direct supervision.

Sources: EU 2023/1114 Arts. 35–42, 111 · GENIUS Act 2024 Title I · MiCA Level 2 RTS · ESMA / EBA guidelines on Title III

§1 · Issuance Parameters EMT / payment-stablecoin

Coin type & supply

Classify the token type and supply. EMT = e-money token (single-currency); ART = asset-referenced (multi-currency / basket); commodity-backed is outside MiCA Title III/IV but still within Title II.

MiCA token classification

Total stablecoin supply (USD) Daily / weekly average circulating supply.

$2.0B

Yield to holders

§2 · Reserve Composition — quality

Backing-asset mix

MiCA Article 36 requires at least 30% of reserves to be held in segregated bank deposits at credit institutions. GENIUS Act §4 narrows the allowed mix to cash and short-dated Treasuries for payment stablecoins. Move sliders; sum is auto-normalised.

Cash & bank deposits (segregated) Counted toward MiCA Art. 36 30% bank-deposit floor.

40%

Short-dated Treasury bills (≤90 days) Highest non-cash quality tier. GENIUS-Act eligible.

45%

Government MMF (Rule 2a-7 / equivalent) Eligible under MiCA RTS; permitted in narrow form under GENIUS.

10%

Repo (overnight, gov-collateralised) Permitted with restrictions; raises supervisory eyebrows.

Other (corp debt / non-USD / crypto) Generally not eligible for payment-stablecoin status.

Cash / bank T-bills ≤90d Govt MMF O/N repo Other

§3 · Redemption Rights MiCA Art. 39 · "at par, on demand"

Holder redemption mechanics

MiCA Article 39 requires redemption at par with no fee for EMTs. ARTs have more flexibility but face the same redemption-on-demand expectation.

Max daily redemption (% of supply) Cap on aggregate daily redemptions before pro-rata or pause activates.

15%

Settlement window (hours) Maximum time between request and at-par settlement.

4 h

Redemption fee (bps) EMTs: must be zero. ARTs: small operational fees may be permitted.

0 bps

§4 · Operational Safeguards Custody · Audit · NCA SLA

Custody, audit, notification

Reserve custody segregation

Independent reserve audit cadence

NCA notification SLA on reserve breach

§5 · Readiness Scorecard — / 100

Composite readiness

Composite

—

Reserve quality

—

weighted by tier

MiCA Title III checklist

GENIUS Act classification

AP2 v1.0 · valid · @ainumbers.co/stablecoin-readiness-v1

Compose with

Pair with #11 — AML Transaction Monitoring Rule Builder for the TM layer (every issuer pipes settlement through TM rules), or #23 — AP2 AML Mandate Builder for the AML mandate the issuer's agentic runtime enforces. The Tool Chain Composer sits T75 in the AML/KYC + Stablecoin cluster with T128 (Stablecoin VASP AML Mapper) as the adjacent node.