MiCA Papers

Asset-referenced token (ART)

A type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies.

As defined in the MiCA Regulation.

See also crypto-asset and e-money tokens.

Hence, an asset-referenced token is a stablecoin which is not supposed to be pegged to fiat money, in contrast to e-money tokens.

UpdatedApr 21, 2023