As MiCA rules go into effect as of July 1st, the usage of Euro stablecoins is on the rise.
While Euro stablecoins is far smaller than the dollar-based stablecoin marketplace, Euro stablecoins have jumped by 128% so far this year or from $295.6 million to $673.9 million
According to a report by Decta, the following MiCA compliant digital assets are leading the charge
- EURC, the market leader grew 109.8% from $205.1 million to $430.4 million.
- EURCV at $137.8 million
- EURI went from $0 to $51.1 million in 5 months
- EURE at $29.9 million
- In total, there are 8 MiCA compliant stablecoins:
- EURC (Circle)
- EURCV (Société Générale / SG-Forge)
- EURE (Monerium)
- EUROP (Schuman Financial)
- EURR (StablR)
- EURQ (Quantoz Payments)
- EURI (Banking Circle)
- EURAU (AllUnity)
- New stablecoins since 2025 include:
- EUROP (Schuman Financial),
- EURQ (Quantoz Payments),
- EURI (Banking Circle)
- EURAU (AllUnity)
EURC has the top trading volume at $34 million a week.
A bevy of stablecoins have exited (or in the process of leaving) the market due to a lack of regulatory approval, including:
- EURT (Euro Tether – left in 2024)
- EURS (Stasis Euro)
- EURA (Angle Euro)
- cEUR (Celo Euro),
- sEUR (Synthetix EUR)
- PAR (Parallel)
It is important that Europe supports the development and usage of regulated stablecoins as this can provide a boost for global usage while providing significant benefits for its users. At the same time, the EU is developing a CBDC and as of yet it is unclear how a government issued digital currency will impact the private sector innovators.
