Euro-stablecoin market capitalization exceeds $1 billion

The market capitalization of euro-denominated stablecoins has exceeded $1 billion for the first time, demonstrating a more than 100% increase since the beginning of 2025, according to analysts from the Token Terminal platform. This surge reflects structural changes in the EU crypto market, where regulatory certainty has begun to play a key role in redistributing liquidity and investor confidence.

The Impact of the MiCA Regulation on the Market

Analysts cite the launch of the pan-European MiCA (Markets in Crypto-Assets) regulation as the main driver of this growth. The new legal framework has tightened requirements for issuers of stablecoins denominated in US dollars and fiat currencies other than the euro. According to MiCA, such projects are required to ensure 100% reserve of issued tokens, undergo monthly audits, and guarantee instant asset buybacks.

These requirements have proven untenable for a number of popular stablecoins. As a result, non-MiCA-compliant assets, including USDT, were forced to leave the European market. The vacated space was quickly filled by authorized euro-stablecoins, which fueled their rapid growth.

Market Leaders in the European Union

According to Token Terminal, EURC from Circle has become the undisputed leader in the euro-stablecoin market in the EU. Its share is approximately 70%, and the supply volume is approaching $300 million. Its high level of transparency, regulatory compliance, and issuer reputation have made EURC a staple for European crypto platforms and investors.

Another significant player is EURCV, issued by SG-Forge, the crypto division of Societe Generale, one of France’s largest banks. In 2025, EURCV transaction volume grew by 343%, which analysts attribute to the token’s active use in institutional transactions and corporate settlements.

Strategic Benefits for Investors

Token Terminal experts note that the use of euro-stablecoins opens up several strategic opportunities for investors. This includes not only «parking» capital in a liquid and stable asset, but also providing a fully-fledged currency arbitrage tool and diversifying risks between the dollar and European financial zones.

The Context of the Digital Euro

Amid the rise of private euro-stablecoins, the debate about the future of sovereign digital currencies is intensifying. Earlier, European Central Bank Executive Director Piero Cipollone spoke of the need to implement a digital euro, emphasizing that in an era of the dominance of private digital payment systems, cash alone may not be enough.