# Issuer

The entity that creates a stablecoin and is responsible for redeeming it; laws limit who may act as one.

Canonical: https://achivx.org/glossary/issuer/
Updated: 2026-11-01

The issuer creates a stablecoin and, under its terms or the law, redeems it. MiCA defines an issuer as a person or undertaking 'who issues crypto-assets' and requires the issuer of an e-money token to be a credit or e-money institution; others may offer it with the issuer's written consent. Under the GENIUS Act only a 'permitted payment stablecoin issuer' may issue a payment stablecoin in the US. Tether's terms say issuances and redemptions are administered by Tether and require a verified customer.

## What the sources say

| Source | Quote | Link |
|---|---|---|
| MiCA Art 3(1)(10): issuer | "‘issuer’ means a natural or legal person, or other undertaking, who issues crypto-assets" | [publications.europa.eu](https://publications.europa.eu/resource/cellar/01d55833-0660-11ee-b12e-01aa75ed71a1.0006.03/DOC_1) |
| MiCA Art 48(1): who may issue e-money tokens | "unless that person is the issuer of such e-money token and: (a) is authorised as a credit institution or as an electronic money institution" | [publications.europa.eu](https://publications.europa.eu/resource/cellar/01d55833-0660-11ee-b12e-01aa75ed71a1.0006.03/DOC_1) |
| GENIUS Act, sec. 3: who may issue | "It shall be unlawful for any person other than a permitted payment stablecoin issuer to issue a payment stablecoin in the United States." | [govinfo.gov](https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm) |
| Tether terms: issuance and redemption | "Issuances and redemptions of Tether Tokens are administered by Tether." | [tether.to](https://tether.to/en/legal/) |
| Tether terms: verified customers | "In order to cause Tether Tokens to be issued or redeemed by Tether, you must be a verified customer of Tether." | [tether.to](https://tether.to/en/legal/) |
| MiCA Art. 48(1), second subparagraph: offer with the issuer's written consent | "Notwithstanding the first subparagraph, upon the written consent of the issuer, other persons may offer to the public or seek the admission to trading of the e-money token." | [publications.europa.eu](https://publications.europa.eu/resource/cellar/01d55833-0660-11ee-b12e-01aa75ed71a1.0006.03/DOC_1) |

## Related terms

- [Stablecoin](/glossary/stablecoin/)
- [Redemption](/glossary/redemption/)
- [Mint](/glossary/mint/)
- [Burn](/glossary/burn/)
- [Reserve / reserve assets](/glossary/reserve-assets/)
- [Freeze (address freeze)](/glossary/freeze/)

## See also

- Explainer: [Stablecoin issuers](https://achivx.com/academy/issuers/index.html)
- Review: [revain.org/coins/usdt/](https://revain.org/coins/usdt/)
- Review: [revain.org/coins/usdc/](https://revain.org/coins/usdc/)
- Review: [revain.org/coins/usdtb/](https://revain.org/coins/usdtb/)
- Review: [revain.org/coins/eurc/](https://revain.org/coins/eurc/)

Checked against the sources on 2026-11-01.

## revain.org
- https://revain.org/coins/usdt/
- https://revain.org/coins/usdc/
- https://revain.org/coins/usdtb/
- https://revain.org/coins/eurc/

## Sources
- https://publications.europa.eu/resource/cellar/01d55833-0660-11ee-b12e-01aa75ed71a1.0006.03/DOC_1
- https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
- https://tether.to/en/legal/