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Circle's euro stablecoin EURC circulation surpasses 400 million euros, becoming an important component of Europe's on-chain payment infrastructure

Circle officially announced that its euro stablecoin EURC has surpassed a circulation of 400 million euros, becoming an important growth node in the on-chain financial ecosystem of the Eurozone. Circle stated that the supply of EURC has increased by over 100% in the past year, as the demand for compliant stablecoins has risen from trading platforms, payment networks, and institutional businesses, moving EURC from the experimental phase to practical application. EURC was first launched on Ethereum in June 2022 and has since expanded to multiple blockchains including Avalanche, Stellar, Solana, and Base.As of the end of 2024, EURC has covered five chains, with a circulation scale of approximately 80 million euros, and continues to grow. Currently, EURC has been launched on several mainstream trading platforms such as Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken, supporting EURC/EUR and EURC/USD trading pairs, further enhancing on-chain liquidity for euros. Circle stated that the application scenarios for EURC are expanding from trading to payments, settlements, and institutional fund management. Currently, fiat withdrawal and recharge service providers such as Mercuryo, MoonPay, Ramp, and Transak have supported users to directly access digital assets using euros, and institutional custody and settlement platforms such as Cobo, Copper, and Fireblocks have also integrated EURC.In addition, both Visa and Mastercard have previously expanded their support for EURC's settlement capabilities, making it available for cross-border payments, card payment settlements, and enterprise-level fund circulation scenarios. With the full implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), EURC operates under the electronic money token (EMT) standard, issued by Circle's French electronic money institution and regulated by the French Prudential Supervision and Resolution Authority (ACPR). The reserve assets of EURC are completely isolated from Circle's corporate funds and are regularly audited and confirmed by independent third parties.As of January 2026, the total supply of global stablecoins is approximately 300 billion dollars. Although dollar stablecoins still dominate, euro stablecoins have become the second largest category. The market size of euro stablecoins has grown from about 400 million euros in June 2025 to about 650 million euros in June 2026, with EURC maintaining a leading position. Circle stated that despite the growth of EURC, euro stablecoins are still in the early stages compared to the M2 money supply of over 16 trillion euros in the Eurozone, and there is still significant room for growth in real-time settlements, cross-border payments, and enterprise financial infrastructure in the future.

Chainalysis Report: Europe's Crypto Adoption Enters "Network Effect Acceleration Phase," with MiCA and Local Stablecoins as Key Drivers

ChainCatcher news, according to the "2025 Crypto Geography Report" published by Chainalysis, the overall crypto trading volume in Europe rebounded after a mid-2024 dip, reaching a peak of $234 billion in December of the same year, continuing into the first half of 2025, demonstrating a mature market pattern with active institutions and widespread retail adoption.The report shows that Russia surged to the top of Europe with a trading volume of $376.3 billion, followed by the UK ($273.2 billion) and Germany ($219.4 billion); Germany saw a 54% annual increase, benefiting from the implementation of MiCA regulations and the entry of financial institutions. Poland and Ukraine experienced growth rates of 51% and 52%, respectively, highlighting the vibrancy of private remittances and grassroots adoption. The implementation of MiCA over the past ten months has facilitated Europe's transition from fragmented regulation to a unified framework.The euro stablecoin EURC issued by Circle grew by 2727% during this period, replacing USDT as the mainstream regulated stablecoin. The European Securities and Markets Authority (ESMA) has currently registered 15 electronic money token issuers, managing a total of 25 single-currency stablecoins.The report points out an unusual characteristic in the European market: "the larger the volume, the faster the growth," indicating that the crypto ecosystem is in an acceleration phase of the S-curve, with network effects driving the continuous expansion of mature markets. The UK market has shifted towards DeFi platforms, with retail funds flowing into DEXs, while institutions still prefer centralized exchanges.Overall, the European crypto ecosystem is entering a new phase of simultaneous regulation and innovation: MiCA is fostering the localization of stablecoins, DeFi usage is surging, and institutional participation is deepening, which continues to elevate Europe's position in the global crypto landscape.
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