Euro-denominated stablecoins reached a total supply of $848.1 million as of September 7, according to Token Terminal. This marks an increase of 22.6% since January 1, when the supply was $691.7 million. In absolute figures, euro stablecoins added approximately $156 million this year.
Dollar supply remains dominantOver the same period, stablecoins pegged to the US dollar saw a similar net addition of $159 million, rising from $298.54 billion to $298.699 billion. Despite the nearly identical net new supply, the scale of the two markets is sharply different. Dollar-pegged stablecoins are roughly 350 times larger than their euro equivalents.
Currently, US dollar stablecoins account for 99.5% of the global market share, while euro stablecoins hold 0.3%, placing them a distant second in the stablecoin market.
Stablecoin typeMarket shareSupply (as of Sep 7)YTD supply growthDollar-based99.5%$298.7 billion+ $159 millionEuro-based0.3%$848.1 million+ $156 millionMarket concentration among euro stablecoinsThe euro stablecoin sector is highly concentrated among a few issuers. EURC holds a 62.6% market share, while EURCV controls 19.6%. Together, these two tokens represent more than 82% of the total euro stablecoin supply. EURI and EURe account for 4.5% and 3.9%, respectively, and the remaining 22 assets combined contribute just under 6%.
EURCV’s position is particularly noteworthy. This stablecoin is issued by SG-Forge, a digital assets subsidiary of Société Générale—a major European bank. SG-Forge operates as an electronic money institution authorized by the French financial regulator ACPR, under the Markets in Crypto-Assets (MiCA) regulation. As a result, a licensed European bank subsidiary now issues roughly one fifth of the entire euro stablecoin market. By contrast, the US dollar stablecoin sector continues to be dominated by Tether and Circle, with no direct bank-backed competition of this scale.
Mini dictionary: MiCA, or Markets in Crypto-Assets Regulation, is a comprehensive regulatory framework developed by the European Union to oversee the issuance and operation of crypto-assets, including stablecoins, across EU member states.
EURC and EURCV control a combined 82% of the euro stablecoin market, showing a high level of issuer concentration compared to the more fragmented landscape of other stablecoin sectors.
Ethereum leads euro stablecoin networksGrowth within the euro stablecoin sector is largely taking place on Ethereum. Since the beginning of the year, euro stablecoin supply on Ethereum grew from $463.4 million to $588.7 million, adding $125 million and now commanding 69.4% of the market. Solana follows with a 14.7% market share, increasing from $94.9 million to $124.9 million over the same period. Combined, these two networks absorbed most of the euro stablecoin sector’s annual growth.
ChainStart of Year SupplyCurrent SupplyGrowthMarket ShareEthereum$463.4 million$588.7 million+$125 million69.4%Solana$94.9 million$124.9 million+$30 million14.7%Base$73.9 million$58.7 million– $15.2 millionN/AGnosisN/A$22.3 million+ a few millionN/ABNB Chain$4.1 million$10.4 million+$6.3 millionN/ABase registered a decline in supply, falling from $73.9 million to $58.7 million. Meanwhile, Gnosis increased its euro stablecoin supply to $22.3 million, and BNB Chain grew from $4.1 million to $10.4 million.
Supply outpaces demandLegal clarity from MiCA has allowed European banks and licensed electronic money institutions to issue euro stablecoins. However, overall user demand for these tokens remains limited. Offshore demand for dollar-backed stablecoins still far exceeds the appetite for euro-denominated alternatives. In Europe, where users already hold euros directly, demand for euro stablecoins in decentralized finance (DeFi) lending pools and as collateral remains low.
Due to this dynamic, current growth in euro stablecoin supply is being driven mainly by issuers, rather than underlying user demand.
New compliant issuance is landing where institutional liquidity already sits, but user adoption continues to lag behind supply.
TLDR Euro stablecoin supply reached $848.1 million, rising about 22.6% since January 1. Euro stablecoins added roughly $156 million in 2026, nearly matching dollar stablecoins’ $159 million increase. Dollar stablecoins still dominate with a 99.5% market share, compared with 0.3% for euro stablecoins. EURC and EURCV control about 82% of the euro stablecoin market. Ethereum holds 69.4% of euro stablecoin supply, while Solana accounts for 14.7%. Euro stablecoins recorded steady growth in 2026, even as dollar-based stablecoin supply remained almost unchanged. Token Terminal data shows euro-denominated stablecoin supply reached $848.1 million on September 7, up from $691.7 million on January 1. That marks growth of about 22.6% this year.
The figures show that euro-denominated tokens added supply at a pace that stands out against a much larger dollar market. The comparison does not change the dollar sector’s dominant position, but it shows that most new net issuance this year came from two very different currency markets.
Euro Stablecoins Gain Supply Share Euro stablecoins added about $156 million in net supply during the first eight months of 2026. Dollar stablecoins added about $159 million over the same period, rising from $298.54 billion to $298.699 billion.
The two markets remain far apart in size. Dollar stablecoins control about 99.5% of total stablecoin supply, while euro stablecoins account for about 0.3%. Even so, both markets added almost the same amount of new supply this year.
EURC remains the largest euro stablecoin, with a 62.6% market share. EURCV follows with 19.6%. Together, the two assets account for about 82% of the total euro-denominated stablecoin supply.
EURI holds 4.5%, while EURe controls 3.9%. More than 20 other euro tokens share less than 6%. SG-Forge, a Société Générale subsidiary, issues EURCV under European regulatory approval tied to MiCA rules.
Ethereum Captures Most New Issuance Ethereum recorded the largest increase in euro stablecoin supply. Its total rose from $463.4 million in January to $588.7 million in September. The network now holds 69.4% of the euro stablecoin market.
Solana also expanded, rising from $94.9 million to $124.9 million and reaching a 14.7% share. Base fell from $73.9 million to $58.7 million, while Gnosis and BNB Chain posted smaller gains. Liquidity remains concentrated on Ethereum and Solana, where most of the euro stablecoin supply increase has taken place during 2026.
Dollar stablecoin supply changed little during the same period. The segment moved from about $298.5 billion in January to $298.7 billion in September, an increase of only 0.05%.
Euro stablecoins therefore gained supply in a stable overall market. European rules have also created a clearer path for banks and licensed electronic money firms to issue tokens. However, trading and DeFi demand for euro-denominated assets remains smaller than demand for dollar-based stablecoins.
Circle expanded its Cross-Chain Transfer Protocol to native EURC transfers on September 2, moving the interoperability service beyond its original focus on USDC. According to Circle’s official announcement, the euro-denominated stablecoin can initially move between Ethereum and Base through the same production infrastructure used for USDC.
EURC Starts With Ethereum and Base The first deployment connects EURC on Ethereum and Base. Circle says CCTP uses a burn-and-mint model: tokens are destroyed on the source chain and newly issued on the destination chain. That process leaves users with native EURC on the receiving network rather than a wrapped representation issued by an external bridge.
Circle presented the expansion as a way for developers to handle two company-issued stablecoins through one integration. Existing CCTP burn-and-mint functionality for USDC remains unchanged. The update therefore adds a euro-denominated asset without requiring applications already connected to CCTP to replace the service’s underlying transfer model.
CCTP Moves Beyond a Single Asset The addition marks a change in CCTP’s scope. Circle has described the product as cross-chain infrastructure for moving native assets and messages, but production transfers had centered on USDC. EURC is now the second Circle-issued asset supported by that framework.
The distinction matters because multichain deployments can otherwise require separate bridge integrations and trust assumptions. BlockchainReporter previously examined a network-specific rollout when Cronos integrated USDC, EURC and CCTP. Circle’s new announcement instead makes EURC a transferable asset within CCTP itself, beginning with the Ethereum-Base route.
Circle Frames the Upgrade as Infrastructure Circle says CCTP is non-custodial and that its technology-services unit does not hold or manage assets transferred through the protocol. The company also warns that transfers are irreversible, including when funds are sent to an incorrect address. Those limitations remain relevant as applications add the new EURC route.
The expansion arrives as activity around euro-denominated stablecoins receives more attention. A recent BlockchainReporter report found that EURC activity had reached a record amid demand for MiCA-aligned assets. The latest CCTP update changes the infrastructure available to move EURC, but Circle did not provide adoption forecasts or transaction-volume targets.
More Assets Remain Forward-Looking Circle said more assets and capabilities are planned, without naming another token or launch date. The confirmed deployment is limited to native EURC transfers between Ethereum and Base at announcement time. Any broader asset support should therefore be treated as a roadmap statement rather than a completed rollout.
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CCTP, Circle’s infrastructure for multichain digital asset management and crosschain trust layer, is extending to additional Circle-issued assets. CCTP now supports native transfers of EURC, Circle’s euro-denominated stablecoin, running on the same production interoperability infrastructure that powers native USDC transfers today.
With this addition, developers and blockchain ecosystems now have a single way to move USDC and EURC across supported chains.
In the past, making an asset available across multiple blockchains meant connecting separate bridge providers, writing custom integrations for each, and reconciling trust models. That produced duplicated infrastructure, operational complexity, and a fragmented experience for developers and users alike.
Starting with Ethereum and Base, EURC can now move natively crosschain using burn-and-mint, the same model CCTP uses for USDC. The asset is burned on the source chain and minted on the destination chain, so each supported chain holds native EURC. This approach unifies liquidity and enables faster crosschain settlement. CCTP’s existing burn-and-mint functionality for USDC does not change.
This is the next evolution of CCTP: more assets that developers can move crosschain, starting with the addition of EURC. The infrastructure is familiar; now it can do more, with more assets and capabilities coming soon.
CCTP is a crosschain messaging infrastructure service provided by Circle Technology Services, LLC ("CTS"). CCTP is non-custodial; CTS does not hold, control, manage, or transfer user assets or act as a transfer agent, registrar, broker-dealer, investment adviser, or clearing agency. CCTP is not a financial, payment, or advisory service and has not been reviewed or approved by NYDFS or any other regulatory authority. Transfers are irreversible; CTS cannot recover assets sent to an incorrect address. CTS does not vet, endorse, or back third-party assets; such assets are subject solely to the applicable third-party terms and risks. Issuers are solely responsible for their services and compliance with applicable laws. Any fee estimates are non-binding previews; actual fees may differ. Assets are subject to a number of risks, including, but not limited to, price volatility and smart-contract, relay, and bridge vulnerabilities. Availability is subject to change. Developer terms apply.
USDC and EURC are issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
EURC joins USDC on Circle's native transfer railsStablecoin issuer @circle has extended its Cross-Chain Transfer Protocol (CCTP) to cover native EURC transfers, applying the same burn-and-mint mechanism it already uses for $USDC. The expansion launches first on Ethereum and Base.
Under the protocol, That means no wrapped version of EURC is created at any point in the process.
Adding EURC to CCTP brings Circle's euro token in line with the infrastructure that has underpinned USDC cross-chain transfers since the protocol launched.
EURC's growing footprint under MiCAThe timing reflects EURC's rapid growth.
Bringing native EURC transfers to CCTP removes a key friction point for developers and institutions moving euro-denominated liquidity between chains without relying on wrapped assets or third-party bridges.
Sources
Circle: Cross-Chain Transfer Protocol (CCTP)
Circle: EURC Exceeds €400 Million in Circulation
Crypto News: Circle's euro stablecoin EURC tops €400 million in circulation
Two other notable platforms that didn’t make to the main list but are worth watching are:
Thunes, the stablecoin settlement infrastructure supports USDC/USDT wallet payouts in 140 countries. However, published chain and custody details are limited. Zodia Markets, this platform supports 20+ fiat currencies and 70 digital assets; its public positioning is closer to institutional brokerage and liquidity than settlement. Quick Answer:
Circle Payments and Visa Stablecoin Settlement stood out as the two best stablecoin settlement platforms for financial institutions in this particular ranking. The former dominates multi-corridor payments while Visa is more focused on issuers and acquirers settling VisaNet obligations.
What are Stablecoin Settlement Platforms?
Stablecoin settlement platforms connect token transfers with the compliance, conversion and accounting processes institutions need. For banks, that involves more than moving USDC or USDT between wallets.
They need to know which entity provides the service and assess its KYC/KYB, AML and sanctions screening, transaction monitoring, wallet controls, reserve visibility and reconciliation.
Blockchain confirmation must also be treated separately from contractual finality, issuer redemption and final fiat credit. A transfer may be confirmed on-chain even though the payout is still under review, waiting for liquidity or not yet complete on a local banking rail.
List of Top Stablecoin Settlement Platforms
1. Circle Payments Network Best for Banks, EMIs, PSPs and remittance companies.
4.8
Circle CPN connects an originating financial institution with a beneficiary financial institution. The workflow covers quotes, on-chain USDC or EURC transfers, encrypted payment data, webhooks and local-currency payouts across supported corridors.
What to check before using it: Interested clients should check critical details such as whether beneficiary FI supports the destination currency and blockchain support for the preferred stablecoin. Other important factors to weigh include the quote, cut-off, refund, wallet and fiat-credit terms.
Key Factors Details Current scale $14.7B annualised run rate, up 76% QoQ; 175 enrolled FIs, up 29% QoQ at the end of Q2 2026 Independent controls Deloitte SOC 1 Type 2 for Circle Mint and SOC 2 Type 2 for Mint/Wallets; testing covered 1 Oct 2024 to 30 Sep 2025 Network risk controls 7 credential domains and 4 pre-match rule layers Exception handling Failed payment IDs cannot be resumed; a new quote and payment workflow are required Main Limit No publicly available corridor cut-off matrix or network-wide fiat-credit SLA
2. Visa Stablecoin Settlement Best for Visa issuers and acquirers looking for an alternative treasury settlement
4.6
Visa allows selected issuers and acquirers to settle VisaNet obligations with supported stablecoins across nine announced chains. The service is limited to treasury settlement and does not provide general payouts.
What to check before using it: For starters, verify whether the Visa stablecoin settlement programme is available in the operating jurisdiction, and whether live or in pilot. Another important check is the prefunding requirements, wallet ownerships, failure handling and associated fees for stablecoin settlement workflows.
Key Factors Details Current scale $7B annualised settlement run rate, up 50% QoQ as of 29 April 2026 U.S. live proof The initial U.S. rollout includes 2 banks: Cross River Bank and Lead Bank Operating window Settlement is available 7 days per week. This does not guarantee end-to-end finality Integration disclosure Visa describes the settlement process as API-driven but does not publish stablecoin endpoint documentation Main limit No public confirmation policy, product-level audit scope or reorg/liability schedule Also Read – Who Can Power Visa’s $7B Stablecoin Machine After BVNK?
3. Ripple Payments Best for banks, fintechs and PSPs that need managed collection, and local payout infrastructure.
4.5
Ripple Payments combines collection, managed wallets, stablecoin and fiat conversion, quote-level fees and local payouts across more than 60 markets.
What to check before using it: Since Ripple uses different contracting entities and licenses based on the corridor, establish which ones apply. At the same time, look into the funding structure; is it prefunded, credit-based or provided just in time? This in addition to FX rates, taxes, custody terms and payout SLA are some of the main factors.
Key Factors Details Network scale More than $100B processed across Ripple’s wider payments network Reserve position $1,8655.6M of RLUSD in circulation against $1,981.3M in reserve funds as of 25 August 2026 Reserve assurance Deloitte attestations are published monthly, no later than 30 days after month-end Security assurance Ripple states that it complies with ISO 27001 and SOC 2 Type II Main limit No stablecoin-only one-year volume or uniform payout SLA across corridors
4. Nium Best for banks, payroll providers, marketplaces and treasury teams.
4.4
Nium uses Coinbase for USDC custody, conversion and liquidity, while payouts move through Nium’s bank, card and wallet network. This design supports just-in-time funding into local currency.
What to check before using it: Institutions looking to leverage Nium’s stablecoin settlement infrastructure should pay attention to the specific corridor license, operating blockchain under the hood, stablecoin fee, FX spread and the payout cut-off.
Key Factors Details Production proof The Coinbase integration went live on 21 April 2026 Wider scale Nium reports $60B+ processed annually and 1,000+ customers. Both are company-wide figures API controls OpenAPI 3.0 REST, with separate sandbox and production credentials and x-request-id tracking Liquidity design Funding is provided just in time, with settlement in USDC or fiat at payout Main limit No published stablecoin-only volume, reconciliation SLA or stablecoin-specific service-level schedule Also Read – List of Top Stablecoin Infrastructure Providers
5. Sygnum Connect Best for banks, funds, and trading firms that need to settle with approved counterparties on a closed institutional network.
4.2
Sygnum Connect records transfers of fiat, stablecoins and crypto between institutional members on Sygnum Bank’s internal ledger. Assets remain in custody while members make continuous book transfers.
What to check before using it: Check whether the relevant Sygnum entity is operational in the jurisdiction in which the entity operates. While connect transfers are free, it is more diligent to review onboarding, custody, FX, credit and mint/redeem fees. Another factor worth assessing is asset segregation and insolvency treatment.
Key Factors Details Network size 200+ institutional trading clients Integration Access through the banking platform, APIs or Fireblocks; settlement between members runs 24/7 Custody scale and segregation Custody covers 70+ assets, held off balance sheet and ring-fenced without a third-party custodian Security and monitoring ISAE 3000/3402, FIPS 140-2 Level 3, MPC, Tier IV Swiss data centres and Crypto-AML screening Main limit No public stablecoin-by-stablecoin volume, insurance limit or external-chain finality schedule
6. Clear Junction onChain Best for regulated banks, EMIs, PSPs, remittance firms and VASPs.
4.2
Clear Junction onChain allows regulated financial institutions to receive, send and convert screened USDC and USDT against GBP, EUR and USD through an API or portal.
What to check before using it: A good starting due diligence point is confirming whether the entity contracted by Clear Junction is an approved customer type and whether the required stablecoin-chain pair is enabled. Go an extra mile to request the fee card, wallet policy, cut-offs and the process for transactions that fail screening at some point.
Key Factors Details Wider-platform scale £26B+ in annual payment value, 400+ regulated institutions and 99.9%+ uptime Security assurance ISO/IEC 27001:2022; first audit passed in May 2023; PCI-DSS certified for six years as of August 2023 Transaction monitoring Only approved wallets are accepted. Originator and beneficiary data are required, and every transaction receives real-time AML/KYT analysis Settlement timing Portal settlement is T+0; API settlement is near real time, subject to screening and operational cut-offs Main limit No published onchain annual volume, transaction limits or per-chain confirmation thresholds
7. Banking Circle Best for banks, issuers, acquirers and payment companies.
4.0
Banking Circle provides fiat-to-stablecoin and stablecoin-to-fiat conversion through the core account infrastructure of its regulated bank platform.
What to check before using it: Institutions should verify that Banking Circle S.A.’s bank and CASP permissions cover the institution, product and jurisdiction involved. Also get clarification on the supported blockchains, wallet architecture, custody terms or stablecoin-specific endpoints involved in the workflow.
Key Factors Details Dated product proof The stablecoin conversion service was announced on 27 April 2026 Wider-platform scale 750+ clients and more than €1T moved and converted annually. These figures are not stablecoin-only Security assurance ISO/IEC 27001:2022 received on 6 August 2024 Finality claim Banking Circle states that the service is available 24/7 and provides “instant settlement” Main limit No published stablecoin volume or exact SLA covering blockchain confirmation and bank posting
8. BCB Group/BLINC Best for exchanges, market makers, funds, PSPs and treasury teams.
3.9
BCB provides internal member transfers through BLINC and beneficiary-FI services through Circle Payments Network. The platform serves exchanges, market makers, funds, brokers, PSPs and treasury teams.
What to check before using it: Before being onboarded, FIs should confirm the BCB group entity, licence and client agreement that apply in the chosen jurisdiction. On the settlement model, verify whether its BLINC book transfer or CPN which facilitates the process, as well as which entity holds the customer assets.
Key Factors Verified value Network scale More than $200B processed since 2020 and 400 institutional clients. These are lifetime and wider-network figures Network topology 79,800 potential settlement connections across the reported client base Operating limits Available 24/7/365, with no transaction-size limit Pre-transaction control AI-driven models screen the originator and beneficiary before a transaction is accepted or settled Main limit “Around five minutes” is a target rather than an achieved SLA, and CPN-specific volume is not public
How We Ranked the Stablecoin Settlement Platforms?
The CoinGape Stablecoin Settlement Platform Score assesses each platform’s documented institutional product, excluding unrelated services offered by the wider group. Each platform is scored on a weighted 100-point scale before the result is converted to a five-point rating.
Settlement/counterparty clarity and financial-institution fit each account for 20%. Prefunding/liquidity efficiency and fiat-exit certainty carry 15% each. Custody, compliance and resilience controls account for 10%, as does chain/corridor reach. Verifiable live scale carries 5%, using product-specific annual volume where available. Integration and fee transparency make up the final 5%.
The assessment also covers licensing, service-entity clarity, stablecoin rails, supported chains, API quality and platform maturity. A platform loses points in the relevant category when it does not disclose fees, chains, SLAs or product-specific volumes.
PlatformSettlement clarity 20%FI fit 20%Liquidity 15%Fiat exit 15%Controls 10%Reach 10%Live proof 5%Integration / fees 5%Overall Rating Circle Payments Network4.74.94.94.84.84.75.04.84.8 Visa Stablecoin Settlement4.95.04.44.24.84.54.83.84.6 Ripple Payments4.34.74.64.04.54.84.14.54.5 Nium3.94.64.54.74.24.83.54.04.4 Sygnum Connect4.84.64.54.24.43.13.23.04.2 Clear Junction onChain4.74.54.14.64.43.42.53.34.2 Banking Circle4.74.43.74.33.83.21.83.24.0 BCB Group / BLINC3.74.04.43.74.33.83.52.53.9
How to Choose the Best Stablecoin Settlement Platform?
Start with the obligation being settled, the corridor and the required fiat outcome. From there, compare custody, liquidity, compliance and finality.
Banks that need regulated USDC settlement should compare Circle CPN, Banking Circle and BCB. PSPs and fintechs should look at Ripple, Nium and Clear Junction for managed payouts. For enterprise treasury teams, Visa is built around VisaNet settlement, while Sygnum and BLINC support stablecoin treasury settlement. Institutions planning to issue a regulated stablecoin need an issuer or minting provider. Access to settlement infrastructure does not include issuance. For last-mile fiat payouts, compare Nium, Ripple, CPN beneficiary FIs and Clear Junction corridor by corridor. EU-focused institutions should verify the exact MiCA, EMI, bank or CASP entity providing the service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Revolut opens EURR to selected customers in three countries; Bridge reported €374 outstanding, compared with €394.5 million of Circle’s EURC.
Revolut has begun rolling out EURR, its first euro-backed stablecoin, to selected customers in Denmark, Poland and Portugal, putting a branded onchain euro inside its app while Bridge Building S.A. serves as issuer and redemption counterparty.
Bridge Building is the legal issuer; Revolut describes it as a Stripe company. Revolut Digital Assets Europe Ltd acts as the offeror and is admitting EURR to trading on the Revolut X platform, according to Revolut’s legal disclosure.
The arrangement makes the rollout a distribution play: Revolut provides access through an app used by more than 75 million customers, although EURR is initially limited to eligible users in the three test markets. Revolut said users can move between euros, crypto, external wallets and supported blockchain networks.
Revolut says more markets are set to follow and expects wider EURR availability later this year. Stablecoins tied to other currencies are also in development.
A Regulated Issuer, but a Small Supply SnapshotEURR is an e-money token under the European Union’s Markets in Crypto-Assets framework. Luxembourg’s Commission de Surveillance du Secteur Financier lists Bridge Building as an active electronic money institution authorized on June 29, 2026. The regulator separately lists Bridge as an active crypto-asset service provider with custody, exchange and transfer permissions.
Tokenholders have the right to redeem EURR at par against Bridge at any time, subject to the applicable terms and redemption process. Bridge’s reserve page says funds received for EURR are safeguarded in segregated accounts at regulated credit institutions or invested in eligible, highly liquid euro-denominated instruments.
The supply snapshot was €374. Bridge reported 374 EURR in circulation and €374 in reserve assets as of Aug. 25, with all of the reported backing held as cash deposits in credit institutions. Bridge identifies Ethereum and Polygon as EURR chains.
By comparison, Circle reported €394.5 million of EURC in circulation as of Aug. 24. Circle identifies EURC on Avalanche, Base, Cronos, Ethereum, Solana, Stellar and World Chain.
Bridge is authorized as an electronic money institution in Luxembourg. Circle Internet Financial Europe SAS issues EURC under an electronic money institution license from France’s Autorité de Contrôle Prudentiel et de Résolution. For EURR, Bridge carries the issuance and redemption role while Revolut supplies the brand and customer channel.
Revolut says more markets are set to follow and expects wider EURR availability later this year.
With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.
The euro stablecoin market has a clear winner, and it’s not particularly close. Circle’s EURC has reached a market capitalization of roughly $526 million, commanding approximately 63% of the entire euro stablecoin sector.
The broader euro stablecoin market has grown to approximately €650 million by mid-2026, making EURC’s lead even more striking in context. Competitors like EURCV and EURI trail by wide margins.
How EURC got here Circle first introduced EURC on Ethereum back in June 2022, extending its reserve-backed stablecoin model beyond the US dollar.
EURC’s circulation recently surpassed €400 million, reflecting growth of over 100% in the past twelve months alone. Some measurements peg the increase at up to 5x since the beginning of what observers call the “MiCA era,” the period since the EU’s Markets in Crypto-Assets regulation began applying in 2024.
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The token now runs natively across multiple blockchain networks, including Ethereum, Base, Solana, Avalanche, and Stellar. That multi-chain presence opens the door to a range of use cases spanning trading, payments, decentralized finance, and foreign exchange.
On the DeFi side, institutional deposits of EURC sit at roughly $76 million to $77 million, primarily concentrated on Aave V3.
The MiCA effect EURC’s issuance model involves holding euro reserves within regulated European Economic Area institutions, ensuring 1:1 redeemability at all times. Monthly third-party attestations from a major accounting firm verify those reserves.
Major exchanges have taken notice. EURC has integrated with platforms including Coinbase, Kraken, and Bitstamp, giving it broad distribution across euro-denominated trading pairs.
What this means for the euro on-chain economy The stablecoin market globally remains overwhelmingly dollar-denominated. USDT and USDC together account for the vast majority of stablecoin supply, with euro-pegged tokens representing a small sliver of the total pie. But that sliver is growing, and EURC is the primary vehicle for that growth.
For European institutions exploring on-chain treasury management, cross-border payments, or DeFi yield strategies, a compliant euro stablecoin eliminates currency risk and simplifies regulatory reporting. Instead of converting euros to dollars, buying USDC, executing on-chain, and converting back, European firms can now operate natively in their home currency.
EURCV and EURI remain distant challengers, and the gap appears to be widening rather than narrowing as institutional users gravitate toward the most liquid and best-distributed option.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
공지사항혜택·이벤트업비트소식거래 이용 안내수수료 안내입출금 이용 안내입출금 현황시장경보 현황Open API 안내정책 및 거래지원 문의1:1 문의하기문의내역이용자 가이드카카오톡 문의(24시간)증명서 발급공시 안내공지사항
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이유알코인(EURC) 신규 거래지원 안내 (KRW, BTC, USDT 마켓)
안녕하세요. 가장 신뢰받는 디지털 자산 거래소 업비트입니다.
신규 디지털 자산 거래지원을 아래와 같이 안내드립니다.
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이유알코인(EURC)
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공지 게시 시점으로부터 2시간 이내
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디지털 자산 입금 전 네트워크를 반드시 확인 바랍니다.
입출금 서비스 개시 이후, 일정 수준의 유동성을 확보하지 못하는 경우 거래지원 개시 시점이 연기될 수 있습니다.
※ 거래 제한 안내
코인마켓캡에서 제공하는 시세를 기준으로 거래 제한 가격이 결정됩니다.
매수 제한 : 거래 지원 이후 약 5분간 매수 주문이 제한됩니다.
최저 매도가 제한 : 거래 지원 이후 약 5분간 전일 종가 대비 – 10% 이하 가격의 매도 주문이 제한됩니다.
주문 타입 제한 : 거래 지원 이후 약 2시간 동안 지정가 주문을 제외한 모든 타입 및 조건의 주문이 제한됩니다.
전일 종가 및 최근 시세는 아래 표를 통해 확인 바랍니다.
디지털 자산
전일 종가
최근 시세 (8월 28일 10시 40분 기준)
EURC
1,609.52 KRW
1,603.32 KRW
0.00001454 BTC
0.00001440 BTC
1.16 USDT
1.16 USDT
※ 입금 유의사항
반영 불가한 입금은 반환 절차에 오랜 시간이 소요될 수 있으니 유의사항을 꼼꼼하게 확인하세요
업비트에서 거래지원하는 EURC의 컨트랙트 주소는 0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c입니다. EURC 입출금 진행 시 컨트랙트 주소를 확인 바랍니다.
트래블룰 이행을 위해, 입출금 가능 가상자산사업자 리스트에 포함 되어있지 않은 거래소를 통해 업비트에 자산이 입금될 경우 반영이 불가하며,
'본인 소유 확인'이 완료된 개인지갑 주소로만 입출금이 가능하며, 연동된 개인지갑을 통한 입금 건이더라도 해당 자산의 네트워크에 따라 입금 반환 처리를 해야 할 수 있습니다.
출처가 불분명한 고액의 디지털 자산 입금 시, 자금 출처에 대한 소명이 요청될 수 있습니다. (이용약관 제17조 제8항)
※ 추가 디지털 자산
EURC는 유로화(EUR)의 가치를 블록체인상에서 안정적으로 이전하고 활용할 수 있도록 설계된 법정화폐 담보형 스테이블코인입니다. EURC는 프랑스 소재 전자화폐기관인 Circle Internet Financial Europe SAS가 전 세계 단독 발행하며, 유통 중인 EURC에 대응하는 유로화 또는 유로화 표시 준비자산을 보유하고 1 EURC를 1유로의 액면가로 상환할 수 있는 구조를 기반으로 운영됩니다. 또한 Ethereum, Base, Solana, Avalanche, Stellar 등 복수의 블록체인에서 지원되어 기업과 이용자가 유로화 표시 가치를 온체인에서 이전하고 결제, 정산, 송금, 거래 및 기타 금융서비스에 활용할 수 있도록 하는 것을 지향합니다. 가상자산 EURC는 유로화 가치의 온체인 이전, 결제, 정산, 송금 및 가상자산 거래 용도로 활용됩니다.
홈페이지 : 이유알코인 공식 홈페이지
X(구 트위터) : 이유알코인 공식 X
백서 : 이유알코인 공식 백서
✽ PC에서 해당 디지털 자산이 조회되지 않을 경우, 새로고침 (F5) 후 확인 부탁드립니다.
✽ 업비트 App에서 해당 디지털 자산이 조회되지 않을 경우, 더보기 > 화면설정 > 코인정보 다시 받기를 클릭 후 확인 부탁드립니다.
투자 위험 안내
• 디지털 자산 투자는 투기적 수요 및 국내외 규제환경 변화 등에 따라 급격한 시세 변동에 노출될 수 있습니다. 본 디지털 자산의 투자 판단의 책임은 본인에게 있으며, 발생 가능한 손실도 투자자 본인에게 귀속됩니다. 프로젝트 홈페이지 및 공시 자료 등을 면밀히 참고하시어 디지털 자산의 특성을 충분히 인지하시고 신중하게 거래해 주시기를 당부해 드립니다.
• 디지털 자산 거래의 특성상 국내외 거래소간 시세 차이가 지속적으로 발생하고 있습니다. 반드시 디지털 자산 투자 전 글로벌 거래소와의 시세 차이에 유의하시기 바랍니다.
• 업비트는 안정된 거래 환경 조성을 위하여 최소 주문 금액 제한 등 다양한 조치를 취하고 있으나, 과열된 투자 환경에 따라 일부 회원님에게는 주문 안정화 메시지가 노출 될 수 있습니다. 이는 먼저 주문한 회원의 주문을 처리하고, 안정적인 서비스를 위한 불가피한 조치이므로 이 점 유의하시기 바랍니다.
※ 가상자산은 고위험 상품으로 투자금의 전부 또는 일부 손실을 초래할 수 있습니다.
※ 가상자산의 투자 판단 및 그에 따른 원금 손실의 책임은 투자자 본인에게 있습니다.
※ 두나무 주식회사 준법감시인 심사필 제25-0156호 (25.09.22~27.09.21)
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
We’re excited to announce that USDC, EURC, CCTP, and Bridge Kit are now available on Plasma.
Plasma is an EVM-compatible, Layer-1 (L1) blockchain built for high-throughput stablecoin applications including payments, settlement, remittances, and other use cases. Supporting payment and partner infrastructure in over 100 countries with over 100 currencies, these integrations bring Circle’s trusted and interoperable multi-currency onchain infrastructure to Plasma’s large and established stablecoin-focused ecosystem.
With the launch of USDC and EURC along with CCTP support, Plasma gains access to some of the leading dollar and euro stablecoins. This unlocks MiCA compliant dollar- and euro-denominated payments, settlement, DeFi trading, FX, treasury management, and more on a blockchain designed for global transaction efficiency.
Benefits of USDC and EURC on Plasma:
Regulated1, fully reserved stablecoins redeemable 1:1 for USD2 and EUR,2 respectivelyIntegrate easily with Plasma payment and DeFi appsMigrate money flows to trusted, unified, and issuer-backed stablecoin infrastructureWith CCTP, eligible institutional traders and teams will be able to:
Access institutional-grade fiat on/offramps for USDC payments and settlementEnable full deposit, withdraw, and API access for USDC on PlasmaTransfer USDC from one supported blockchain (e.g., Ethereum) to another (e.g., Plasma)Integrate crosschain transfers in around 10 lines of code with Bridge KitKey use cases for USDC and EURC on PlasmaUSDC and EURC will enable a regulated1 dollar- and euro-denominated payment ecosystem on Plasma. With issuer-backed stablecoin infrastructure, MiCA compliance, and 1:1 redeemability for dollars and euros respectively, USDC and EURC can support payments, settlement, remittances, trading, and more on a chain purpose-built for stablecoin usage. Establishing deep liquidity for both EUR/EURC and USD/USDC trading pairs can support stablecoin flows at the volumes institutions and enterprises need. Through CCTP, USDC on Plasma will become interoperable with other supported blockchains, enabling users and developers to move USDC securely across ecosystems without relying on wrapped assets.
Together, USDC, EURC, CCTP, and Bridge Kit will give businesses and developers on Plasma access to trustworthy, multi-currency fiat rails for institutional-grade payments, B2B settlement, trading, FX, treasury, and other compliant stablecoin flows. While USDC is widely used around the world, euro-denominated EURC is well suited for onchain activity within the EU, where 1:1 euro redeemability and MiCA compliance are often required to enable compliant capital movement.
Starting today, users can access USDC through Plasma One, Plasma’s stablecoin app and card for sending and spending digital dollars. Developers can also integrate USDC and EURC across Plasma apps.
Get started todayBusinesses can access institutional on/offramps to convert to Circle stablecoins on Plasma by applying for a Circle Mint3 account. Individuals and smaller institutions can access USDC and EURC through various exchanges, wallets, and providers. Visit circle.com/eurc and circle.com/usdc to learn more.
Get started today with our developer docs for USDC, EURC, CCTP, Bridge Kit, and Circle Mint. USDC and EURC are open-source, permissionless stablecoin infrastructure that anyone can build with.
1 USDC is issued by regulated affiliates of Circle. EURC is issued by Circle Internet Financial Europe SAS. A list of Circle’s regulatory authorizations can be found here.
2 Circle Mint customers are able to redeem USDC and EURC directly from Circle. In addition, Circle will redeem all USDC and EURC presented to it for redemption in compliance with MiCAR, regardless of whether the holder is a Circle Mint customer. Circle Mint is currently available only to institutions and is not available to individuals.
3 Circle Mint and money transmission services are provided by Circle Internet Financial, LLC, NMLS # 1201441, and Circle Internet Financial Europe SAS, Electronic Money Institution License No. 17788, when provided in France.
Circle’s euro-pegged stablecoin EURC has quietly amassed $76.6 million in deposits spread across 20 DeFi protocols. That’s not a massive number by USDC standards, but for a euro stablecoin operating in a market historically dominated by dollar-denominated assets, it represents a meaningful foothold.
The lion’s share of those deposits, roughly 70.9%, sits in Aave V3. That concentration tells you something about where the euro-denominated DeFi action is actually happening, and which protocol has managed to build the infrastructure that euro stablecoin users trust.
Aave V3’s outsized role Aave V3 holds approximately $42.5 million to $42.7 million in EURC supply based on visible protocol snapshots. That means a single lending protocol accounts for more than two-thirds of all EURC deployed in DeFi.
The remaining 29% of EURC deposits are distributed across 19 other venues, including liquidity provision and foreign exchange trading pairs across multiple protocols.
The bigger EURC picture The total circulating supply of EURC stands at approximately €410.6 million as of August 17, 2026. That means the $76.6 million sitting in DeFi protocols represents roughly 18-19% of the overall EURC supply depending on exchange rates.
Circle has positioned EURC as a fully reserved, 1:1 euro-pegged stablecoin with cash-equivalent redemptions. EURC currently lives across multiple blockchain networks: Ethereum, Base, Avalanche, Solana, and Stellar.
MiCA and the regulatory tailwind Europe’s Markets in Crypto-Assets regulation, commonly known as MiCA, has created a framework that specifically addresses stablecoin issuance in the EU. MiCA’s requirements around reserves, transparency, and licensing have raised the barrier to entry for anyone wanting to issue a euro stablecoin.
For the broader DeFi market, dollar stablecoins like USDC and USDT still dominate global DeFi activity by an enormous margin. But within the European market specifically, compliant euro stablecoins are carving out territory for users and businesses that need to denominate transactions in euros for tax, accounting, or operational reasons.
What this means for DeFi’s euro market When 71% of a stablecoin’s DeFi deposits sit in one protocol, any disruption to that protocol, whether technical, regulatory, or governance-related, would ripple through the entire EURC DeFi ecosystem. With EURC and USDC both issued by Circle and available across the same blockchain networks, the infrastructure also exists for on-chain forex trading between euros and dollars without touching centralized exchanges.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle (NYSE: CRCL) stock price dropped by 3.83% on August 19 to close trading at $71. The decline in price comes despite the supply of Circle’s EURC stablecoin rising by 100% in just one year. CRCL stock remains up by 22% since August 3 amid a phase of aggressive buying by fund manager ARK Invest.
Circle’s EURC Stablecoin Supply Soars to €400M A recent report by Circle noted that the supply of the EURC stablecoin that is in circulation has increased to €400 million, with this being a 100% year-over-year increase.
Circle notes that this increase comes as the market shifts away from just experimentation to real-time usage of EURC by institutions, exchanges, and payment platforms.
“These integrations, particularly following the rollout of the Markets in Crypto-Assets (MiCA) regulation, enabled regulated firms to use EURC for treasury, settlement, and payments,” Circle noted.
The growth comes at a time when many crypto companies, including Tether (USDT), have left the EU because of the MiCA regulations that went into effect on July 1, 2026.
However, EURC is not the only stablecoin issued by Circle that is recording a significant surge in growth. A recent report by CoinGape revealed that the USDC stablecoin recorded $849 billion in volumes in July 2026, with this being 62% of all the stablecoin volumes seen during the month.
CRCL Stock Price Forecast as Rally Cools Circle shares have risen by 22% from $58 on August 3 to $71 on August 18. The gains coincided with ARK Invest’s purchases of CRCL stock in July and early August, as earlier reported by CoinGape.
However, the rally has since cooled after the stock faced resistance at $75 on August 13. If this downtrend continues, CRCL stock price could move to test support at the 61.8% Fib of $69.
But if the ongoing retracement is just the stock shaking off weak hands before another rally ensues, CRCL could close above the resistance at $75 and reach the 123.6% Fib of $80.
CRCL Stock Price Chart (Source: TradingView) The RSI of 54 suggests that the momentum is still favoring bulls, and this could push the price of CRCL stock to $80.
The ADX line that is also rising despite the rally halting at $75, suggests that the uptrend is still strong and the crypto stock could continue the uptrend.
Macro Factors Weigh on CRCL Stock Price The recent drop in CRCL stock also comes as geopolitical risks reduce demand for US-listed stocks after President Trump said that there are no talks that are going on between the US and Iran.
The Federal Reserve will also release the minutes for the July FOMC meeting today, August 19, and a hawkish tone in those minutes could weigh on the CRCL stock price.
The initial jobless claims report coming out on August 20 could also affect the outlook on whether the Fed will trim or hike interest rates during the September FOMC meeting.
Circle’s euro-backed stablecoin EURC has surpassed €400 million in circulation after its supply more than doubled over the past year as the token gained support across exchanges, payment providers and institutional platforms.
Summary
EURC has surpassed €400 million in circulation after its supply more than doubled over the past year. Circle said EURC is now supported across major blockchains, exchanges, payment networks and institutional platforms. Euro stablecoin supply reached about €650 million by June 2026, with EURC holding a large share of the market. Circle operates EURC as a MiCA compliant e money token through its licensed entity in France. Circle said in an Aug. 17 update that EURC supply had increased by more than 100% over the previous year, with the token now used across trading, payments, foreign exchange, treasury operations and institutional settlement. Circle’s EURC page showed €402.4 million in circulation as of Aug. 13, 2026.
The issuer attributed the increase partly to distribution across blockchains and financial platforms, after euro-denominated stablecoins spent years operating with less liquidity than their U.S. dollar counterparts. Circle said users previously had to rely more heavily on dollar stablecoins as intermediary assets when moving between fiat euros and digital assets, while euro-denominated onchain markets offered less liquidity.
According to the company, EURC has since become its main euro-denominated asset for users seeking a token redeemable at a one-to-one rate against the euro, with institutional use increasing alongside new European crypto rules.
EURC supply has climbed from about €80 million since 2024 EURC was launched on Ethereum in June 2022 before Circle expanded native issuance to Avalanche, Stellar, Solana and Base from 2023 onward.
By the end of 2024, the stablecoin was available across five blockchains with around €80 million in circulation, according to Circle. Its supply more than doubled during the first half of 2025 and continued increasing through the remainder of the year.
Exchange distribution developed alongside the blockchain expansion. Circle said Bitpanda, Bitstamp, Bybit, Coinbase and Kraken have listed EURC, giving users access to EURC/EUR and EURC/USD markets without requiring every transaction to pass through a dollar stablecoin.
Institutional access also expanded through custody and settlement providers including Cobo, Copper and Fireblocks, while euro onramp and offramp providers Mercuryo, MoonPay, Ramp and Transak integrated EURC for users moving between euros and digital assets.
Payment networks have also added the token to stablecoin settlement products. Mastercard and Circle expanded stablecoin settlement in August 2025 to support USDC and EURC for acquirers across Eastern Europe, the Middle East and Africa. Mastercard said at the time that participating acquirers could use Circle’s stablecoins when settling payments with merchants.
Circle said Visa and Mastercard integrations during 2024 and 2025 opened additional uses for EURC across cross-border transfers, card-linked payments and euro-denominated settlement.
MiCA has given EURC a regulated route across Europe Circle operates EURC as an electronic money token under the European Union’s Markets in Crypto-Assets Regulation, with issuance handled through its licensed electronic money institution in France.
The company received an Electronic Money Institution licence from French regulators in July 2024, allowing Circle Mint France to issue EURC and USDC for European customers. As crypto.news previously reported, Circle became the first global stablecoin issuer to announce compliance with MiCA’s stablecoin rules at the time.
Under Circle’s operating model, EURC reserves are segregated from the company’s corporate funds and subject to monthly third-party attestations. Circle said eligible businesses with Circle Mint accounts can redeem EURC directly for euros at a one-to-one rate, while other holders can access secondary markets through exchanges.
MiCA became fully applicable across the EU at the end of 2024, establishing requirements covering stablecoin reserves, governance, disclosures and redemption rights. Circle has said regulatory clarity helped regulated financial companies assess how euro-denominated digital assets could be used for treasury management, payments and settlement.
Institutional distribution expanded further in September 2025 when Deutsche Börse agreed to integrate Circle stablecoins into parts of its European market infrastructure.
The agreement covered EURC and USDC trading through 360T’s digital exchange 3DX and institutional custody through Clearstream. Circle CEO Jeremy Allaire said at the time that connecting regulated stablecoins with established financial venues could streamline trading, settlement and custody workflows.
Euro stablecoin supply has reached about €650 million Dollar-pegged tokens still account for most stablecoin supply, but Circle said euro stablecoins have become the second-largest fiat stablecoin segment.
According to the company, total global stablecoin supply stood at roughly $300 billion at the start of 2026. Euro stablecoin circulation increased from around €400 million on June 1, 2025 to approximately €650 million by June 1, 2026.
EURC accounted for more than €400 million by August, giving the Circle-issued token a large share of the euro-denominated market based on the figures provided by the company.
Competition for that market is also increasing as European banks prepare their own regulated digital currencies.
In May, European banking consortium Qivalis expanded to 37 participating institutions after adding 25 banks from 15 countries, including ABN AMRO, Rabobank, Nordea and Intesa Sanpaolo. The group is preparing a MiCA-compliant euro stablecoin and is seeking approval from the Dutch central bank as an Electronic Money Institution.
Qivalis CEO Jan Oliver Sell said the consortium wants Europe’s onchain financial infrastructure to remain tied to the euro and governed under European rules. The project had previously selected Fireblocks to provide tokenisation technology, custody services and wallet infrastructure.
Circle, meanwhile, has argued that existing European financial-market rules can still restrict the use of euro stablecoins even when issuers comply with MiCA.
Circle wants fewer barriers for euro stablecoin settlement In March 2026, Circle asked EU policymakers to change parts of the European Commission’s proposed Market Integration Package, arguing that some requirements could restrict institutional settlement using electronic money tokens.
One concern involved market-capitalisation thresholds for e-money tokens used in settlement. Circle said limiting some settlement functions to tokens classed as “significant” could make it harder for smaller euro stablecoins to develop enough liquidity to qualify for institutional use.
The company proposed more flexible thresholds based partly on market adoption and liquidity conditions. EURC is treated as an e-money token under MiCA but does not meet the regulation’s definition of a significant e-money token, according to Circle’s regulatory documentation cited in the March report.
Circle also asked the European Commission to let crypto-asset service providers participate more directly in the EU’s Distributed Ledger Technology Pilot Regime, including access to parts of the settlement infrastructure currently limited to credit institutions and central securities depositories.
For EURC itself, Circle said its addressable market remains much larger than current circulation. Euro-area M2 money supply exceeded €16 trillion in late 2025, according to figures cited by the issuer, compared with roughly €650 million held across euro stablecoins by June 2026.
The company said EURC is currently used across its supported blockchain networks for payments, foreign exchange, treasury operations and settlement, with Circle Mint providing eligible businesses with direct conversion between euros and EURC.
TLDR EURC has surpassed €400 million in circulation after its supply more than doubled over the past year. Circle said EURC is now supported across major blockchains, exchanges, payment networks and institutional platforms. Euro stablecoin supply reached about €650 million by June 2026, with EURC holding a large share of the market. Circle operates EURC as a MiCA compliant e-money token through its licensed entity in France. Circle has asked EU policymakers to ease rules it says could limit settlement using smaller euro stablecoins. Circle’s euro backed stablecoin EURC has crossed €400 million in circulation. The company said supply has more than doubled over the past year.
Circle shared the update on August 17. It said the token is now used for trading, payments, foreign exchange, treasury work and institutional settlement.
Circle’s own EURC page showed €402.4 million in circulation as of August 13, 2026. The company pointed to wider distribution across blockchains and financial platforms as a main driver.
Euro stablecoins had long operated with less liquidity than dollar tokens. Circle said users often relied on dollar stablecoins as a middle step when moving between euros and digital assets.
EURC launched on Ethereum in June 2022. Circle later added native issuance on Avalanche, Stellar, Solana and Base starting in 2023.
By the end of 2024, EURC was live on five blockchains with around €80 million in circulation. Supply then more than doubled in the first half of 2025 and kept climbing.
Exchanges and institutions add support Several exchanges have listed EURC over time. Circle named Bitpanda, Bitstamp, Bybit, Coinbase and Kraken among platforms offering EURC trading pairs.
Institutional custody and settlement firms also joined in. Cobo, Copper and Fireblocks now support EURC for institutional users.
Onramp and offramp providers Mercuryo, MoonPay, Ramp and Transak added EURC too. This lets users move between euros and digital assets more directly.
Payment networks have expanded their use of the token as well. Mastercard and Circle widened stablecoin settlement in August 2025 to cover USDC and EURC across Eastern Europe, the Middle East and Africa.
Regulation under MiCA Circle issues EURC as an electronic money token under the EU’s Markets in Crypto Assets Regulation. Its licensed entity, Circle Mint France, handles issuance.
France granted Circle an Electronic Money Institution licence in July 2024. That let Circle Mint France issue EURC and USDC for European customers.
Circle said EURC reserves are kept separate from company funds. Monthly third party attestations check on those reserves.
Deutsche Börse agreed in September 2025 to add Circle stablecoins to parts of its market infrastructure. That deal covers EURC and USDC trading through 3DX and custody through Clearstream.
Total euro stablecoin supply rose from about €400 million in June 2025 to roughly €650 million by June 2026, Circle said. EURC makes up a large piece of that figure.
A European bank group called Qivalis is building a competing euro stablecoin. The consortium grew to 37 institutions in May and is seeking its own EU licence.
Circle has asked EU regulators to change parts of a proposed settlement rulebook. It argues that market size thresholds could make it harder for smaller euro tokens to qualify for institutional settlement use.
The company said its addressable market is still far larger than current circulation. Euro area M2 money supply topped €16 trillion in late 2025, compared with about €650 million held in euro stablecoins.
Circle announced that its EURC euro stablecoin has surpassed €400 million in circulation, a milestone achieved nearly four years after its initial launch. While this figure remains modest beside the dominance of dollar-pegged stablecoins, Circle’s progress highlights a persistent effort to develop alternative payment rails outside the US dollar system.
Expansion across blockchains and market impactEURC was initially launched on Ethereum in June 2022. By 2023, Circle expanded the euro stablecoin’s presence to additional blockchains, including Avalanche, Stellar, Solana, and Base. By December 2024, the token was circulating on five blockchains with almost €80 million in supply. The company stated EURC’s supply doubled in the first half of 2025, with year-over-year growth of 284%, and reached €310 million by the end of that year.
Patrick Hansen, Circle’s Director of EU Strategy and Policy, emphasized the scale of this growth, noting in a post that EURC had “officially crossed €400 million in circulation for the first time in history,” more than ten times its size at the start of the MiCA regulatory period just two years before. Peter Schroeder, a fellow Circle executive, also highlighted the significance of EURC as the first euro-pegged stablecoin to reach this threshold.
EURC’s supply more than doubled over the past 12 months, reaching the €400 million mark and positioning itself as the leading euro-pegged stablecoin in terms of market capitalization and adoption.
Dollar stablecoin dominance remainsDespite EURC’s remarkable growth, dollar-based stablecoins continue to dominate the market. According to a Bank for International Settlements report published in May 2026, nearly 98% of all stablecoin value is denominated in dollars. This entrenched dominance suggests that dollar-pegged assets continue to underpin most blockchain-based commerce and settlement activity, with euro alternatives still occupying a small fraction.
Efforts to transact in euros on-chain have long faced liquidity and infrastructure barriers. Circle noted that users often had to route transfers through dollar-based stablecoins or rely on complicated integrations, resulting in friction and limited direct euro liquidity.
Regulatory pressures have further shaped the sector. Tether ended support for its EURT euro stablecoin instead of adapting to new European rules, a move that further concentrated market activity among MiCA-compliant euro tokens. By mid-2026, the collective value of euro-based stablecoins rose to around $900 million, still constituting less than 1% of the globally estimated $300 billion stablecoin market.
MiCA’s regulatory shift and EURC’s positioningThe European Union’s Markets in Crypto-Assets (MiCA) regulation, which took effect in December 2024, required new standards for reserves, transparency, governance, and redemption in the issuance of digital assets. Circle designed EURC to qualify as an “e-money token” under MiCA’s legal framework, issuing it from France through an institution supervised by ACPR and backed with segregated reserves.
While MiCA did not directly spark higher demand for euro stablecoins, it provided a clear legal undercurrent for regulated entities such as banks and payment firms to consider euro stablecoins for blockchain-based settlements and transfers.
EURC now features on multiple major exchanges, payment processors, and is supported by institutional custody solutions. Both Visa and Mastercard extended their stablecoin settlement capabilities to include EURC, helping bridge the gap between crypto-native and traditional payment infrastructure.
Growth in real-world usageSignificant progress has also been observed in real-world adoption. On August 13, payments company Thunes rolled out EURC prefunding across Ethereum, Solana, Base, and Stellar, enabling euro-denominated transactions outside standard banking hours and eliminating the need to convert funds to dollars first.
Third-party data supports this shift. Research conducted by Dune for Visa showed that, during the period ending February 2026, local-currency stablecoins saw a notable jump in total transaction volume to $1.2 billion, growing almost 90%. Euro-based stablecoins accounted for over 80% of this market value and 85% of transactions. EURC processes between $10 billion and $20 billion in monthly volume, supported by a rising user base—from 40,000 addresses in January 2023 to over 1.2 million by February 2026.
Amidst technical innovations and expanding market infrastructure, a broader transition is visible in the form of tokenized assets feeding into on-chain finance. While traditional markets still depend on intricate broker networks, platforms like 1stepSwap now allow users to hold shares of leading US companies, gold, and silver directly in their crypto wallets. This model leverages tokenization of real-world assets (RWAs) and rapid price discovery, effectively removing intermediaries and speeding up market access for investors.
EURC in context: the stablecoin market remains dollar-ledThe €400 million milestone is significant as a proof-of-concept for the euro as an on-chain currency, highlighting improvements in regulation, liquidity, and integration. However, the euro stablecoin sector remains a fraction of the overall stablecoin economy, which continues to be closely clustered around dollar-denominated assets. The pace of EURC’s rise, particularly over the past year, reflects both the momentum of regulated projects and persistent challenges for non-dollar stablecoins in building mass-market adoption.
DateEURC CirculationGrowth / ContextMay 31, 2024€37.0MEarly baseline; Circle reserve reportJan. 1, 2025~€70MStart of the year; cited by CircleDec. 23, 2025>€300MEURC became the largest euro-denominated stablecoinDec. 31, 2025€310MYear-end figure; +284% YoYJuly 27, 2026€394.6MLatest Circle disclosure; near €400MDespite EURC’s rapid acceleration from less than €100 million in early 2025 to nearly €400 million by mid-2026, the stablecoin market remains predominantly dollar-based, with non-dollar tokens still playing a much smaller role.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Today, money moves faster than ever before, especially with stablecoins — digital assets designed to maintain stable value against, in most cases, a backing asset. Over roughly the past decade, stablecoins backed by US dollars (and equivalents) have taken center stage among other fiat-pegged stablecoins, benefiting from more liquidity, transaction volume, and opportunities for stress testing. Stablecoins pegged to other local currencies, like euros, in comparison have broadly experienced a slower adoption curve and shallower liquidity.
For years, users looking to transact in euro-pegged stablecoins often had to use dollar stablecoins to on/offramp or as intermediary assets when trading, accept shallower euro-denominated onchain liquidity, or rely on bridges that weren’t built for long-term trust. What’s been missing for institutions, enterprises, and builders are euro-pegged digital assets that people can actually use day to day: easy to access, widely supported, and consistently redeemable at par.
That’s what EURC is built to be. And it’s why EURC has now surpassed €400 million in circulation, a milestone for euro liquidity in the onchain economy.
Over the past year, EURC’s supply increased by more than 100%, as the market moved from experimentation to real usage across exchanges, payment flows, and institutional workflows that demand reliability and compliance. EURC is now the most widely distributed and widely used euro stablecoin, supported across major blockchains, exchanges, and payment networks. It’s also built to evolve and grow with demand for digital asset use cases — like settlement, FX, and treasury use cases — that demand compliance, auditability, and 24/7 reliability. The result is a euro-pegged stablecoin with distribution, utility, and reliability that’s gaining ground through ongoing performance as the leading euro stablecoin.
Expanding liquidity across the ecosystemEURC launched on Ethereum in June of 2022, bringing Circle’s fully reserved stablecoin model to euro-denominated markets. Starting in 2023, EURC expanded natively across major blockchains, including Avalanche, Stellar, Solana, and Base — strategically aligning with ecosystems where liquidity and developer activity were strong.
By the end of 2024, EURC was live on five chains and had grown to approximately €80 million in circulation. That number more than doubled in the first half of 2025 and continued climbing throughout the year.
Distribution also scaled through centralized venues. EURC was listed on major exchanges including Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken. This exchange support deepened liquidity for both EURC/EUR and EURC/USD trading pairs, reducing euro-to-dollar conversion friction and establishing EURC as a top-tier euro stablecoin.
Integrating into the financial stackDistribution may drive awareness but utility drives retention. EURC’s growth accelerated as it became embedded into real financial workflows, where speed, transparency, and reliability matter.
Multiple leading onramp and offramp providers like Mercuryo, MoonPay, Ramp, and Transak enabled users to access digital assets directly with euros. This bypassed the inefficiency of intermediary dollar conversions.
EURC also became integrated into institutional custody and settlement platforms, including Cobo, Copper, and Fireblocks. These integrations, particularly following the rollout of the Markets in Crypto-Assets (MiCA) regulation, enabled regulated firms to use EURC for treasury, settlement, and payments.
In 2024 and 2025, Visa and Mastercard both expanded their respective euro stablecoin settlement capabilities to include EURC. This unlocked real-world use cases for cross-border payments, card-linked flows, and euro-native settlement.
Together, these integrations helped translate EURC’s promise into tangible value: faster reconciliation, around-the-clock liquidity access, and programmable money infrastructure that meets enterprise requirements.
Operating transparently EURC’s continued growth is also closely tied to rising regulatory clarity and Circle’s operational discipline.
In December of 2024, MiCA became fully applicable across the EU, establishing requirements for euro stablecoins around reserve backing, governance, disclosures, and redemption rights. MiCA didn’t necessarily create inherent demand for euro stablecoins, but it cleared the path for serious institutional and enterprise adoption.
Circle designed EURC to operate as an e-money token (EMT) under MiCA — issued by Circle’s e-money institution in France, supervised by the ACPR, and held to a full-reserve standard. Reserve assets are fully segregated from Circle’s corporate funds and attested monthly by independent third parties. Since launch, authorized users with Circle Mint accounts have maintained the ability to redeem EURC 1:1 for euros directly via Circle Mint, while others can do so on secondary markets like crypto exchanges. This combination of regulatory alignment and operational transparency helped unlock institutional confidence in 2025, shifting EURC from a promising product to a trusted tool.
EURC in context: A category taking shapeStablecoins have become a core component of the onchain economy, with total global supply approximately $300 billion as of January 1, 2026. While dollar stablecoins continue to dominate in absolute terms, euro stablecoins are now the second-largest segment. The euro stablecoin market grew from approximately €400 million as of June 1, 2025 to roughly €650 million by June 1, 2026. Within this growing category, EURC remained the leading euro-denominated stablecoin — playing a key role in euro stablecoin circulation, infrastructure support, and regulatory readiness.
EURC’s market share reflects years of groundwork: multichain expansion, deep exchange liquidity, and close alignment with institutional and policy expectations.
The opportunity is still massive Despite this momentum, the addressable market remains largely untapped. Euro-area M2 supply exceeded €16 trillion as of late 2025, while euro stablecoins represent just a fraction of a percent.
The structural advantages of stablecoins (e.g., real-time settlement, programmability, and lower operational friction) map directly to financial use cases already core to European commerce. As infrastructure matures and regulation provides guardrails, the path is clearing for broader enterprise and institutional participation.
Learn more about EURC and how to build with euro-denominated programmable money on Circle’s EURC page.
EURC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
Circle’s euro-pegged stablecoin EURC has crossed the €400 million circulation mark, roughly doubling its supply over the past twelve months. For a token that launched just four years ago into a market where the US dollar dominates roughly 99% of stablecoin activity, that’s a number worth paying attention to.
The milestone, reached in August 2026, puts EURC’s circulating supply somewhere between 393 and 406 million tokens. Each one is redeemable 1:1 for euros, backed by reserves held in regulated European banks and verified through monthly independent attestations. Think of it as the euro’s answer to USDC, built by the same company with the same full-reserve playbook.
MiCA changed the game The acceleration in EURC adoption didn’t happen in a vacuum. It lines up neatly with the enforcement of the European Union’s Markets in Crypto-Assets regulation, better known as MiCA.
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MiCA created a clear compliance framework for stablecoins operating in Europe. Tokens that met the requirements got a regulatory green light. Those that didn’t faced delisting pressure from major exchanges. EURC, designed from the start with regulatory alignment in mind, was positioned to benefit from that sorting process.
The result has been a consolidation of the euro stablecoin market around compliant options. EURC now commands an estimated 41% to 65% of the euro stablecoin market, depending on which data source you reference.
Multi-chain footprint and payment rails EURC is currently deployed across five blockchain networks: Ethereum, Solana, Avalanche, Stellar, and Base. That multi-chain presence matters because it lets the token serve different use cases on different infrastructure. DeFi activity on Ethereum, fast settlements on Solana, institutional transfers on Stellar, and access to Coinbase’s ecosystem through Base.
The token originally launched in June 2022 under the name Euro Coin, trading as EUROC. Circle later rebranded it to EURC, streamlining its identity to match the simplicity of its dollar sibling.
Recent integrations with payment providers have expanded EURC’s utility beyond trading desks. Partnerships with companies like Thunes, a cross-border payments network, have opened pathways for EURC to function as settlement infrastructure rather than just a trading pair.
What the doubling means for euro liquidity on-chain There’s a competitive dimension worth watching too. Tether launched its own euro stablecoin, but MiCA compliance has been a sticking point. Several exchanges have restricted or delisted non-compliant euro stablecoins in the wake of the regulation’s enforcement. That regulatory filtration has effectively narrowed the field, and EURC has been the primary beneficiary.
For Circle, EURC’s growth validates a strategy of building for regulators first and markets second. The company invested heavily in European licensing and compliance infrastructure before the demand materialized.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Thunes, the Singapore-headquartered global payments network, launched EURC prefunding on August 13, integrating Circle’s euro-denominated stablecoin into its Direct Global Network and SmartX Treasury system. The feature lets network members fund cross-border euro transactions instantly, even when European banks are closed for the weekend or on holiday.
How it works and who it serves The integration allows Thunes’ network members, a roster that includes fintechs, neobanks, payment service providers, and Web3 companies, to prefund euro-denominated transactions using EURC. That stablecoin is MiCA-compliant, meaning it meets the European Union’s Markets in Crypto-Assets regulatory framework.
EURC is compatible with multiple blockchains including Ethereum, Solana, Base, and Stellar.
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Thunes’ infrastructure reaches 12 billion bank accounts and wallets across 140 countries, supporting over 90 currencies and 220 payment methods.
Deputy CEO Chloé Mayenobe described the launch as “a natural evolution” of the company’s capabilities.
Building on the Circle partnership This isn’t Thunes’ first rodeo with Circle. The two companies established a partnership in October 2024, initially focused on USDC-based liquidity solutions. Adding EURC extends that relationship into euro-denominated territory.
In October 2025, Thunes rolled out a Pay-to-Stablecoin-Wallets feature, allowing direct settlement into stablecoin wallets. The EURC prefunding announcement builds on that foundation.
Why 24/7 settlement matters more than it sounds EURC prefunding lets companies park liquidity in a stablecoin that maintains a 1:1 peg with the euro, making those funds available for settlement at any hour. European markets have roughly 250 business days per year, which means traditional banking rails are effectively offline for more than 100 days annually when you count weekends and public holidays.
The bigger picture for stablecoins in payments MiCA compliance is a key enabler here. The EU’s regulatory framework for crypto assets, which went into full effect in 2024, created a clear legal basis for stablecoins issued by licensed entities. Circle obtained the necessary licenses to issue EURC under MiCA.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle’s Senior Director of EU Strategy and Policy Patrick Hansen (@paddi_hansen) published an article noting that since the EU’s Markets in Crypto-Assets (MiCA) regulation took effect, roughly 35 electronic money tokens (EMTs) from 21 institutions have secured compliance certifications. Banks and e-money institutions are entering the space, with strong local issuance momentum. However, among the world’s top 50 stablecoins, only three—USDC, USDG, and EURC—currently meet MiCA requirements, while the rest operate outside the regulatory framework, leaving EU users facing a dual dilemma: either insufficient protection or forced access restrictions. Hansen argues that for MiCA to truly serve as a global regulatory benchmark, two goals must be achieved in parallel: first, drive local EMTs to go global via a competitive regulatory regime; second, establish a recognition mechanism for overseas compliant stablecoins to attract global issuers to join the MiCA framework, rather than making local issuance the sole entry path.
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Out of the 50 largest stablecoins by market capitalization, exactly three have cleared Europe’s MiCA regulatory hurdle. Circle says those three are USDC, EURC, and USDG, a tally that should make every other stablecoin issuer operating in the EU a little uncomfortable.
The MiCA compliance landscape is remarkably thin Fewer than 15 stablecoins currently hold active MiCA authorization as e-money tokens. When you narrow the lens to the top 50 by market cap, that number drops to just three.
Circle leads the pack. The company secured its MiCA authorization in July 2024, becoming the first global stablecoin issuer to receive a French e-money license from the ACPR. That license covers both USDC, its dollar-pegged flagship, and EURC, its euro-denominated counterpart, across the entire European Economic Area.
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The third member of this exclusive club is USDG, issued by Paxos. USDG received its MiCA authorization through FIN-FSA in Finland in November 2024, with its EU market launch following by July 2025.
What MiCA actually demands MiCA requires issuers to prove their tokens are fully backed, publish detailed white papers, maintain transparent reserve structures, and submit to ongoing regulatory oversight.
Circle conducts monthly attestations of its reserves and updated its MiCA-compliant white papers for both USDC and EURC in December 2025. Those updates aligned the documents with the final technical regulatory standards established by the EU.
The broader authorized landscape includes a handful of smaller euro-pegged stablecoins like EURI. But none of these smaller tokens rank among the top 50 by market cap.
Why this matters for the market For the compliant tokens, MiCA authorization functions as something close to a regulatory moat. When a European bank, asset manager, or payment processor wants to integrate stablecoins into their operations, the field narrows to USDC, EURC, and USDG, giving Circle and Paxos a structural advantage in the EU market.
For Tether’s USDT, the world’s largest stablecoin, the absence from this compliant list is particularly notable. Whether Tether pursues MiCA authorization, or cedes the European market to competitors, will be one of the more consequential strategic decisions in the stablecoin space.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Circle’s euro-backed stablecoin EURC has roughly doubled in market capitalization since the start of the year, climbing from approximately $205 million to around $430 million. The token’s circulation now sits at approximately €378 million as of mid-July, with its share of the euro stablecoin market ballooning from about 17% a year ago to north of 40%.
MiCA did the heavy lifting MiCA’s full enforcement in late 2024 and early 2025 created a compliance gauntlet that most euro stablecoin issuers couldn’t survive. The most notable casualty was Tether’s EURT, which exited the market rather than meet the new regulatory requirements.
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Circle secured a French Electronic Money Institution license back in 2024, giving it a single regulatory passport to operate across the entire EU and European Economic Area. The supply numbers tell the story cleanly. EURC’s token supply grew from roughly 309 million at the end of 2025 to approximately 390 million in early 2026, nearly tripling in a compressed timeframe.
Multi-chain expansion and Base launch Circle has been deploying EURC across multiple blockchain networks, including Ethereum and Solana. The most recent expansion landed on July 9, when EURC went live on Coinbase’s Base network.
Daily active addresses for EURC hit an all-time high of 1,760 shortly after the Base launch. The broader euro stablecoin market has reached record highs approaching $900 million as of mid-2026, with EURC commanding roughly 40–50% of that total.
What this means for investors The institutional character of this growth is worth noting. The supply expansion and market cap gains appear driven by enterprise-level integrations rather than grassroots consumer adoption. The company has reportedly been building payment integrations with partners like Visa and exploring point-of-sale terminal support through Ingenico, which would push EURC into physical retail environments.
With the overall euro stablecoin market still under $1 billion, it remains a fraction of the dollar stablecoin market, which is measured in the hundreds of billions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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Cronos Natively Incorporates $USDC and CCTP to Bolster Infrastructure The launch of $EURC, $USDC, and the CCTP protocol of Circle on the Cronos network highlights a key move. The integration is set to provide institutions, developers, and consumers with streamlined access to compliant stablecoin infrastructure. Additionally, the move focuses on simplifying transfers across chains and supporting a wider range of notable financial apps across the ecosystem.
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Apart from that, native $USDC is set to play the role of a central settlement asset operating in the Cronos app. Following the launch of the platform, consumers will get the capability to deposit their $USDC tokens and use an inclusive balance for the trading of diverse asset classes. Each of the transfers on the platform will witness its settlement in $USDC, marked by redeemability for U.S. dollars on a 1:1 ratio.
Accelerating Worldwide Stablecoin Adoption According to Cronos, a critical element of this development is the inclusion of the Cross-Chain Transfer Protocol (CCTP) of Circle. The protocol allows consumers to shift $USDC between compatible blockchain ecosystems without depending on 3rd-party bridges or wrapped tokens. With this mechanism, consumers will get the ability to transact $USDC from over 20 compatible chains to Cronos. Additionally, $EURC’s integration further broadens the platform’s stablecoin offerings. Overall, with the merger of native $EURC, $USDC, and CCTP integration, Cronos focuses on elevating its position as a prominent blockchain ecosystem for compliant digital asset operations and worldwide financial innovation.
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10 July 2026 | 11:40 Circle's euro stablecoin EURC just recorded the busiest days in its four-year history, and the numbers still fit in a small town.
Santiment data shows EURC printed 1,760 daily active addresses and 713 new wallets in a single day this week, both all-time highs, arriving almost immediately after July 1, the date a MiCA license became mandatory for serving EU customers across all 27 member states.
Euro Coin ($EURC) daily active addresses and network growth hitting all-time highs. The new-wallet figure is the meaningful one. Active addresses can spike when existing holders shuffle funds; record wallet creation means fresh users are arriving. With unlicensed platforms locked out of Europe, payment teams and apps need compliant assets, and a euro token issued under Circle’s French-regulated entity is one of the few on the shelf.
The longer trend runs the same direction. EURC’s market cap has grown from under $100 million a year ago to roughly $430 million, tracking MiCA’s phase-in almost step for step, per Coinglass data. For a stablecoin that is the demand chart, since the price is pinned to one euro and adoption shows up in supply, not candles.
So the compliant euro lane is getting traffic. Then came July 9, and a number that puts the records in scale.
Teng’s 70% Binance did not obtain a MiCA license in time and suspended EU services, forcing millions of users to decide where their balances go. CEO Richard Teng gave the result: roughly 70% of withdrawn funds moved to self-custodied wallets. Only 30% landed on MiCA-compliant platforms, reported by Yahoo Finance.
Given a forced choice between regulated venues and their own keys, most affected users took the keys, moving assets outside both Binance and MiCA’s oversight entirely. Teng said the quiet part himself, arguing the migration raises questions about whether the law is achieving its consumer-protection goals, since self-hosted wallets sit beyond the supervision the framework exists to apply. EURC exchange netflows corroborate the direction, printing sustained weekly outflows through the transition, including $1.43 million in the week of July 6.
EURC spot market netflow and price performance trends through July 2026. Put the two stories side by side and the gap is the point. EURC’s record day involved fewer than two thousand addresses; Binance’s European base numbered in the millions. All-time highs and irrelevance are coexisting on a $430 million base, while the self-custody exit absorbed the bulk of a major exchange’s EU float in days. Investors are sampling the compliant lane. Most of the money, so far, is declining to drive in it.
Two Weeks Is Not a Referendum There are fair reasons to withhold the verdict. Self-custody may be a waiting room rather than a destination, since parking assets in a hardware wallet costs nothing while users watch which licensed venues earn trust, and Teng noted several EU jurisdictions have already invited Binance to apply for local licenses. If the exchange returns licensed, much of the 70% could flow back inside the perimeter and the July snapshot would read as transition friction. The euro-rail build-out also does not need Binance’s refugees: EURC’s growth is driven by platforms integrating a compliant instrument, the slower, infrastructural version of success MiCA’s drafters would settle for.
But the test is now defined, and it is measurable. EURC supply rising while the self-custody share shrinks would say Europe’s investors are accepting the framework. Records on a small base while 70% of forced movers choose their own keys says the acceptance is partial, and the burden of proof sits with the regulated lane. A rule built to bring users under supervision has, in its first two weeks, moved most of the affected money beyond it. That is the number MiCA will be judged against.
The information provided in this article is for educational and informational purposes only and does not constitute financial, investment, or trading advice.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
Circle’s EURC stablecoin just printed its busiest day on-chain in the asset’s four-year history. Both daily active addresses and new wallet creation exploded to record levels, according to the on-chain update from Santiment. The sudden burst of usage is not noise. It aligns with a structural shift as European exchanges, apps, and payment teams hunt for compliant alternatives under the continent’s new crypto rulebook.
A Sudden Spike in Euro Coin Usage Active addresses and network growth are two of the bluntest tools for measuring real adoption. A simultaneous surge in both suggests fresh capital and new participants—not just existing holders shuffling tokens. EURC’s daily active addresses vaulted to an all-time high, and the number of new wallets entering the network did the same. That dual breakout rarely happens by accident.
The timing is critical. For years, dollar stablecoins dominated on-chain activity, while euro-denominated options stayed in the background. That has changed. Circle has been deliberately expanding EURC support, most recently with USDC/EURC pairs on Cronos and deeper cross-chain infrastructure. The market is starting to respond.
Regulation Reshaping On-Chain Euro Demand MiCA is no longer a draft proposal. Exchanges operating in the European Union now face hard compliance deadlines, and the effect on stablecoin selection is immediate. MiCA-ready assets like EURC, issued under Circle SAS, become a natural default. What makes this moment different is that the picks and shovels of euro on-chain liquidity are finally being laid while regulation forces the decision.
The contrast with the U.S. is stark. While the ongoing stalemate in U.S. stablecoin legislation drags on, Europe’s framework is already redirecting flows. EURC is capturing a meaningful slice of that redirection. Circle’s broader ecosystem updates—new chain expansions, compliant payment rails, and deepening institutional connections—give users practical reasons to reach for the token, not just to hold it.
What Traders Should Watch Stablecoins don’t pump like volatile altcoins, and nobody should read this spike as a price signal. But on-chain activity of this magnitude points to real demand building underneath Europe’s crypto payment layer. If the number of addresses and new wallets stays elevated, it would confirm a durable shift rather than a one-off burst.
The broader stablecoin picture reinforces that view. Tokenized assets are already climbing past $20 billion on-chain, and regulated stablecoins function as the settlement backbone, as seen in the recent wave of institutional RWA adoption. EURC’s record-breaking day is another data point suggesting euro-denominated liquidity is becoming a permanent on-chain fixture. The open question is whether this activity translates into deeper EURC trading pairs and whether that volume persists beyond the initial MiCA implementation window.
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Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
EURC's biggest-ever surge in addresses and wallets highlights rising interest in regulated euro stablecoins.
Euro Coin (EURC) saw a sharp increase in on-chain activity as both daily active addresses and new wallet creation reached all-time highs in its four-year history, according to Santiment.
The surge likely reflects growing demand for regulated euro-denominated stablecoins as the EU’s Markets in Crypto-Assets (MiCA) framework encourages exchanges, payment providers, and crypto applications to adopt compliant digital assets.
Biggest On-Chain Spike Circle’s EURC has emerged as one of the leading euro-backed stablecoins in this environment, particularly as usage for these tokens continues to expand beyond traditional US dollar trading pairs. Santiment said the latest on-chain data indicates euro liquidity is becoming increasingly important across blockchain networks.
The analytics firm also linked the increase in activity to recent developments within Circle’s ecosystem, broader cross-chain expansion of stablecoins, and renewed interest in compliant payment infrastructure.
Circle issues EURC through Circle SAS, with the regulated euro-backed stablecoin available on networks including Ethereum. It has also continued expanding EURC support across additional blockchain ecosystems. This includes enabling USDC and EURC on Cronos while investing in broader stablecoin infrastructure.
Santiment said that although stablecoins do not typically experience price rallies like other crypto assets, rising activity around EURC points to growing underlying demand within Europe’s blockchain-based payment ecosystem.
Europe’s Regulated Stablecoin The market for MiCA-compliant euro stablecoins currently consists of eight fully authorized tokens, which offer regulated options for different types of users.
You may also like: Circle Receives Final Green Light to Establish National Trust Bank ZachXBT Sounds Alarm Over AscendEX as Users Struggle to Withdraw Funds PayPal’s Stablecoin Lands on Polygon With Built-In Compliance and Fiat Access EURC is the largest by market capitalization and is joined by Société Générale’s EURCV, which is designed for institutional and wholesale settlement. Monerium issues EURE as a regulated e-money token, while Schuman Financial offers EUROP, a newer entrant focused on the European market. StablR’s EURR is a cash-backed euro stablecoin, and Quantoz Payments issues the MiCA-compliant EURQ.
EURI, issued through Banking Circle, is among the three largest euro stablecoins by market capitalization, while EURAU is the newest addition, launched by AllUnity. The combined market capitalization of the eight tokens grew from around $295 million to $669 million over the past year, an increase of about 126%.
In just a few days, Circle’s EURC stablecoin has shattered its activity records thanks to MiCA, proof that regulation boosts adoption. But against the controversial giant Tether, the fight for Europe promises to be fierce. Who will be the winner?
In brief Circle’s EURC records activity records in Europe (1,760 addresses/day) thanks to MiCA. MiCA regulation does not recognize non-compliant stablecoins, making EURC the legal solution in Europe. Circle’s EURC success shows that compliance and transparency encourage stablecoin adoption. A few days after the publication of the MiCA-compliant crypto platforms in Europe, Circle’s EURC stablecoin experienced a historic explosion:
1,760 active addresses per day; 713 new wallets created every day, records over 4 years. Why? Because MiCA excluded non-compliant stablecoins from the European market, which pushed players to seek legal and transparent solutions. Pegged to the euro, EURC is regulated and has thus become the default solution for companies wishing to avoid legal risks.
Explosion of Circle’s EURC stablecoin in Europe thanks to MiCA. Where cryptos are volatile, EURC’s growth is organic and fueled by real demand. This boom proves that regulation does not always stifle innovation… it structures it. But beware, this dependency on Circle raises a question: what if tomorrow a problem at the issuer shakes the entire European ecosystem?
Is the War for the Conquest of Europe Declared Between Circle and Tether? The king of stablecoins, Tether (USDT), leads the dance on the global market with over 100 billion dollars in circulation. But MiCA has made a radical change in Europe. Indeed, USDT being non-compliant, it is consequently delisted from crypto exchange platforms (Binance, Kraken) to avoid penalties. Thus, Circle and its EURC take advantage of this gap to establish themselves as the reference stablecoin for euro transactions.
However, Tether has no intention of giving up. Indeed, the giant is accelerating discussions with European regulators in order to obtain a MiCA license. If Tether succeeds, the fight will be fierce. On one side, Circle, transparent and regulated; on the other, Tether, flexible and already favored by traders. And who will win? Meanwhile, Circle has a strategic lead while USDT remains on hold. Europe is thus becoming the playground of stablecoins.
MiCA has propelled Circle’s EURC stablecoin to the top, but the war against Tether is only beginning. Europe has opted for regulation, but is it ready to take the risks of dependency on a single player? In your opinion, should security be prioritized over decentralization?
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
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Days after the MiCA deadline, Circle’s EURC hits record on-chain activity, reaching 1,760 daily active addresses.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The MiCA effect has proved real. Just days after the EU’s strict regulatory deadline came into force, Circle’s regulated euro stablecoin EURC recorded an unprecedented surge in on-chain activity, setting all-time highs across key network metrics in its four-year history.
According to data from analytics platform Santiment, the daily number of active EURC addresses suddenly jumped to 1,760, while the number of newly created wallets within the ecosystem reached 713 per day.
Euro Coin (EURC) daily active addresses and network growth, Source: Sanbase/SantimentThe current surge clearly demonstrates that, under strict regulatory deadlines, euro-denominated blockchain liquidity is beginning to play an independent role and rapidly emerging from the shadow of dollar-based trading pairs.
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Regulatory crackdown as the main driver for the digital euroWhile the traditional crypto market often grows on speculative hype, EURC’s fundamental rise has been driven by purely practical factors — the implementation of the European Union’s Markets in Crypto-Assets regulation, or MiCA. The market’s urgent adjustment to this regulatory milestone triggered two parallel processes:
The EU’s new strict rules are steadily pushing unregulated offshore stablecoins out of the European market. Major exchanges, fintech applications, and custodial services are being forced to rapidly delist non-compliant assets to avoid penalties.Under these conditions, Circle, which obtained electronic money institution status in France, has emerged as the main beneficiary. Its EURC token has become the most obvious and secure choice for businesses seeking a legally compliant settlement instrument across the EU’s 27 member states.Stablecoins are not exposed to the same volatility as traditional crypto assets and cannot “pump” like conventional tokens. Therefore, growth in their network activity is generally driven by real organic demand.
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In recent months, Circle has actively expanded EURC’s technical infrastructure. The stablecoin has received native support on efficient networks such as Base and Cronos and has been integrated into updated payment gateways.
For market participants, this record is a clear indication that a powerful foundation is forming beneath the payment layer of the European crypto industry. More importantly, capital is not leaving Europe, but moving into transparent, fiat-backed, euro-denominated payment rails.
Circle's euro stablecoin $EURC logged its highest daily active addresses and new wallet creation since its launch four years ago, according to Santiment data. On July 9, daily active wallets reached 1,760, a milestone that underscores accelerating demand for regulated euro-denominated digital assets.
MiCA Clears the Field for EURCThe timing of the spike is no coincidence. The EU's Markets in Crypto-Assets (MiCA) regulation transition period ended on July 1, 2026, requiring all crypto firms serving EU clients to be licensed. That deadline reshaped the competitive landscape sharply. Tether chose not to apply, with CEO Paolo Ardoino calling MiCA's reserve rules "dangerous," leading major exchanges including Coinbase, Binance, and Kraken to delist USDT for European users. With the market's dominant stablecoin removed from regulated European venues, liquidity has had to go somewhere.
EURC, issued by Circle, held the highest average market capitalisation among MiCA-compliant euro stablecoins at $430.4 million across the past year and led in average weekly trading volume at $34.0 million. Circle's EURC has emerged as the dominant euro stablecoin, holding approximately 41% of total euro stablecoin market capitalisation, up from 17% market share over the past 12 months.
Compliance as a Competitive AdvantageThe primary driver behind the surge in EURC activity is the enforcement of MiCA's stablecoin provisions, which require issuers to hold specific reserves and obtain licenses to operate within the EU. Circle was among the first global firms to secure an Electronic Money Institution (EMI) license, making EURC the first major MiCA-compliant stablecoin.
The leading euro stablecoin for crypto capital markets, EURC is MiCA-compliant, redeemable 1:1 for euro, and accessible globally on Avalanche, Base, Ethereum, Solana, and Stellar. That multi-chain presence matters: several high-profile centralised exchanges have started restricting non-compliant stablecoins for European users, naturally funnelling liquidity into EURC.
Total market capitalisation of MiCA-compliant euro stablecoins rose 128%, climbing from $295.6 million to $673.9 million across the 52 weeks to June 28, 2026. The broader trend points to Europe consolidating its stablecoin market around a small group of fully licensed tokens, with EURC currently leading that pack by a wide margin.
Sources:
Cryptonomist: MiCA Euro Stablecoins Surge Post Transitional Period
Circle: EURC Official Page
Utila: Euro Stablecoin Landscape Report 2026
Circle’s EURC launch on Base is a small but important stablecoin infrastructure move. It brings a native euro-denominated token to one of the most watched Ethereum layer-2 networks at a time when European regulation is becoming much more concrete.
That combination matters. Base needs more native liquidity tools, and Circle needs to show that its MiCA-compliant strategy can translate into useful distribution across active networks.
For more details, visit the official Circle platform.
TL;DR Circle launched native EURC on Base.The rollout gives the Ethereum layer-2 a euro-denominated stablecoin aligned with Circle’s MiCA strategy.It adds another liquidity building block for Base as regulated stablecoin competition intensifies. Why EURC On Base Matters Most crypto liquidity is still dollar-denominated, but euro stablecoins are becoming more important as MiCA changes the European operating environment. A native EURC deployment gives Base users a cleaner way to move euro liquidity without relying only on bridged or wrapped assets.
For developers, native stablecoins can matter because they reduce friction in payments, DeFi, and trading pairs. For users, they make the network feel more complete.
Circle’s MiCA Advantage Circle has been positioning itself as one of the stablecoin issuers most prepared for Europe’s new rulebook. EURC on Base fits that strategy because it combines regulatory positioning with distribution on a fast-growing chain.
The broader stablecoin market is becoming more regional and more regulated. That means issuers with clear licenses and compliant products may be able to capture share where unregulated tokens face restrictions.
Base Gets Another Liquidity Piece For Base, the launch adds to an ecosystem already trying to build depth across DeFi, payments, and consumer applications. Stablecoins are the settlement layer for much of that activity.
If EURC finds real usage, it could help Base become more attractive to European users and projects looking for euro-denominated on-chain rails.
The Part That Matters The useful way to read this story is not as a standalone headline about Circle, but as part of the wider pressure building around Stablecoins coverage this week. Markets have been jumping quickly from one catalyst to the next, so the cleaner value for readers is in separating the actual development from the instant reaction around it. In this case, the source material gives us a concrete event to work from, rather than a loose rumour or a recycled social-media talking point.
That distinction matters because crypto readers are being asked to process a lot at once: ETF flows, regulatory actions, exchange listings, protocol upgrades, wallet movements, and political signals. A story like this is most useful when it helps them understand where EURC fits into that broader map. It does not need to be inflated into a guaranteed price call to be worth covering. It simply needs to explain what changed, who is affected, and why the market is paying attention today.
The caveat is also important. Even clean source-backed developments can be overinterpreted when traders are hunting for a fast narrative. A listing does not automatically create lasting demand, a regulatory update does not immediately settle every legal question, and an on-chain movement does not always translate into a finished sale. The better read is to treat the development as a fresh data point and then watch whether follow-up activity confirms the direction of travel.
For NewsBTC readers, that means keeping the focus on what can actually be verified from the source and avoiding the temptation to turn every update into a sweeping market verdict. The story is strong enough on its own terms: it gives investors and traders another piece of context around Stablecoins, while leaving room for the next filing, dashboard update, wallet movement, governance vote, or exchange notice to decide whether the angle grows into something bigger.
This article is based on information from Circle.
This article was written by the News Desk and edited by Samuel Rae.
Credit Agricole has entered the euro-pegged stablecoin market. (Kwami Fattah Al Sissi/Unsplash)Summary
Crédit Agricole introduced the EURO eXchange Token (EURXT), a euro-pegged, MiCA-compliant stablecoin issued on Ethereum by its asset-servicing arm, Caceis.EURXT debuted with 20 million tokens in circulation, backed 1:1 by euro reserves at Caceis Bank, according to data on the project's website.The token joins a market already populated by SocGen's EURCV and Circle's EURC and targeted by a group of 37 banks working together as Qivalis.Crédit Agricole (ACA), France's second-largest bank by assets, unveiled a euro-pegged stablecoin, a rival to offerings from smaller peer Société Générale (GLE) and Circle Internet (CRCL) in a market that's also targeted by Qivalis, a group of 37 European banks that plans to introduce its own contender later this year.
The coin, EURO eXchange Token (EURXT), is pegged 1:1 to the euro and complies with the European Union’s Markets in Crypto-Assets (MiCA) framework, according to a post on the website of its asset servicing unit, Caceis Bank, which is issuing the token. It has already been used to settle a subscription into a tokenized Amundi money market fund.
There are 20 million EURXT in circulation on Ethereum, backed 1:1 by euro reserves held by Caceis Bank. The compares with about 378 million of Circle's EURC and 124 million of SocGen's EURCV.
The euro stablecoin market has grown substantially since MiCA rules governing the tokens took effect a year ago, with market capitalization more than doubling in 12 months, according to a DECTA study. Even so, the market is tiny compared with the U.S. dollar-pegged token arena dominated by Tether's USDT and Circle's USDC, at just 0.5% of market share.
Amundi is one of the region's largest asset managers, with 2.4 trillion euros ($2.73 trillion) in assets under management. The firm debuted a tokenized share class for its flagship euro cash fund on Ethereum last year.
Crédit Agricole said the token fits into its ACT 2028 plan, which includes a broader push into tokenized finance.
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Investment firm Spiko has integrated Coinbase’s stablecoin payment infrastructure into two regulated EU Treasury-bill funds, allowing eligible investors to fund subscriptions and receive redemption proceeds using USDC and EURC.
Coinbase said Tuesday the integration covers Spiko’s EU T-Bills Money Market Fund and US T-Bills Money Market Fund. Both are structured as Undertakings for Collective Investment in Transferable Securities, or UCITS. Coinbase Payments will provide the payment, wallet and application programming interface (API) infrastructure, with the transactions settling on Base, Coinbase’s layer-2 network.
The exchange said the products are the first UCITS funds in Europe to accept direct stablecoin payments.
The move into UCITS funds comes as net sales of the assets rebounded in April, the latest data from trade group EFAMA showed on Monday. UCITS saw net inflows of 104 billion euros that month, compared to net outflows of 41 billion euros in March. Net sales reached a new record in 2025, totaling 828 billion euros and surpassing the previous 2021 high of 813 billion euros.
Tokenized funds push toward 24/7 utilityCoinbase described the integration as an example of how stablecoins could reshape payments infrastructure for mutual funds by removing bottlenecks for investors as they enter and exit a product. It positions stablecoins as settlement infrastructure, connecting onchain capital with regulated investment funds.
Investors can submit subscriptions at any time, including weekends and holidays. At the same time, redemption proceeds can be delivered to a stablecoin wallet within minutes after a position is liquidated.
Despite this, round-the-clock stablecoin transfers do not necessarily mean that the underlying fund continuously processes subscriptions and redemptions. Spiko said the Coinbase integration introduces a new payment method rather than changing the funds themselves.
Cointelegraph reached out to Coinbase for more information on order execution, but did not receive a response before publication.
Other asset managers have tested ways to provide 24/7 access to tokenized funds. In February, WisdomTree received approval for round-the-clock secondary trading and instant USDC settlement of its tokenized Treasury fund, with liquidity supplied by its broker-dealer while primary fund processes remained unchanged.
Tokenized money market funds are also increasingly being used as infrastructure beyond subscriptions and redemptions. In February, Franklin Templeton and Binance introduced a program allowing institutions to pledge tokenized fund shares as off-exchange trading collateral while the assets remain in regulated custody
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Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
The July 1 MiCA deadline is a crypto story, yet some of its biggest winners may trade on stock exchanges. As Europe forces unlicensed firms out, a handful of publicly traded MiCA winners, the so-called MiCA stocks.
BeInCrypto analysts screened institutional money flow and options positioning to find three names whose charts reveal how traders are playing them.
Circle Internet Group (CRCL)Circle sits at the center of the July 1 MiCA deadline, making it the first of three MiCA stocks worth watching. The regulation forces non-compliant euro stablecoins off EU venues, and that consolidation favors Circle directly. Its EURC now holds roughly half the euro stablecoin market, while USDC ranks among the only top-10 stablecoins cleared under the rules.
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Yet institutional positioning complicates the bullish narrative. The Chaikin Money Flow (CMF), a proxy for institutional buying and selling pressure, has fallen steadily since March 4 and sits deep in negative territory at -0.34. Large investors have been net sellers, not buyers, even as the regulatory tailwind built.
CRCL Money Flow Decline: TradingViewThe CMF reading tracks inside a falling channel. As long as it holds that channel, a short-term bounce around the deadline stays possible. A breakdown below it would confirm sustained distribution and likely trigger heavier profit booking.
Options flow tells a more constructive near-term story. The put-call ratio, which compares demand for bearish puts against bullish calls, is dropping. Its volume reading fell from 0.75 on June 25 to 0.44, while open interest eased from 0.81 to 0.80. Falling ratios mean traders are opening more bullish call positions than puts.
CRCL Put-Call Ratio: BarchartThat leaves CRCL as a momentary, event-driven bet. The MiCA catalyst and improving options sentiment support a tactical move, with the stock last at $75.96. However, persistently negative CMF caps conviction, and a channel breakdown would nullify any deadline-driven pop.
Coinbase Global (COIN)Coinbase is the second of the MiCA stocks to watch, and arguably the clearest infrastructure winner. It secured an EU-wide MiCA license through Luxembourg’s regulator, letting it passport regulated services across all 27 member states as rivals exit the bloc.
Options positioning, however, sends a more cautious signal. On June 26, the COIN put-call volume ratio sat at 1.14, skewed heavily toward bearish puts, with open interest at 0.84. Since then, volume has eased to 0.96 while open interest climbed to 0.88.
COIN Put-Call Ratio: BarchartThat split is the interesting part. The falling volume ratio shows fresh call buying. Yet rising open interest points to traders hedging existing positions rather than turning outright bullish. The setup reads as mixed, not a clean reversal.
The chart adds nuance through timeframe. On the daily, CMF remains deep in negative territory. On the four-hour, however, CMF has started rising inside its falling channel, last at -0.14, a sign of building short-term inflows.
COIN Money Flow Recovery: TradingViewThat four-hour turn matters most for an event-driven trade. A break above the channel’s upper trendline would open a path back toward the zero line and a more sustained move. That move might also have an impact on the put-call ratio as the MiCA deadline approaches.
Robinhood Markets (HOOD)Robinhood rounds out the MiCA stocks to watch, and the liquidity angle sets it apart. It owns Bitstamp, which holds a MiCA license passportable across the EU. As roughly 83% of previously registered crypto firms exit the bloc, freed-up trading volume can route toward licensed venues like Bitstamp.
Options positioning leans bullish. On June 25, the HOOD put-call volume ratio sat at 0.43 with open interest at 0.63. Volume has since fallen to 0.35 while open interest ticked up to 0.64. As with Coinbase, the split shows fresh call buying alongside light hedging. Yet the lower volume ratio points to stronger directional conviction.
HOOD Put-Call Ratio: BarchartThe money flow is the standout. HOOD is the rare crypto-linked name whose CMF sits above zero, last at 0.05, holding a rising parallel channel since early February. The reading reflects Robinhood’s diversified brokerage model, which draws steadier institutional inflows than pure-play crypto stocks.
HOOD Money Flow Strength: TradingViewCMF has respected the channel support in early April and mid-May without testing the lower trendline, each time preserving the uptrend. A break below that trendline and the zero line would signal weakness. Until then, the structure stays constructive, helped by a roughly 12% gain over the past month. That makes HOOD the strongest positioned of the three.
A major stride was made in Europe’s regulated investment market with the launch of blockchain-based payment infrastructure. Coinbase and Spiko have collaborated to enable stablecoin payments for UCITS-structured investment funds. Thanks to this new arrangement, investors can now purchase or redeem fund shares much faster, eliminating the need to wait for traditional bank transfers.
Stablecoins make inroads into UCITS fundsAs part of the integration, Spiko’s EU Treasury Bill Money Market Fund and US Treasury Bill Money Market Fund now accept USDC and EURC stablecoins. These products have thus become among the first UCITS funds in Europe to offer stablecoin funding options. The new system particularly facilitates quicker transitions between regulated short-term public debt funds and digital assets for institutional investors.
Glossary: UCITS is a regulatory framework developed in the European Union to protect investors and ensure risk diversification in collective investment funds. This structure, which facilitates cross-border fund distribution, is widely used throughout Europe.
Investors can acquire fund units with USDC or EURC at any time, including weekends and public holidays, without waiting for regular bank working hours or settlement periods. According to company statements, when redeeming fund units, stablecoins can be transferred to wallets within minutes. This setup is expected to minimize the period during which capital remains idle during transaction processing.
Coinbase and Spiko emphasized that regulated financial products can operate in harmony with digital assets while maintaining full compliance with legal frameworks.
Base network and payment infrastructure highlightedThe payment infrastructure operates through Coinbase Payments, with transactions finalized on Coinbase’s Ethereum layer-2 network, Base. In addition, Coinbase provides both the required wallet infrastructure and payment tools needed for the process. The companies underlined that this model ensures the security and compliance standards that regulated financial markets expect remain intact.
Glossary: Base is a layer-2 Ethereum network developed by Coinbase. Networks of this kind are built to process transactions more quickly and at a lower cost than the main chain.
UCITS funds are among the most heavily regulated investment products in Europe and are widely used by both retail and institutional investors. Bringing stablecoin payments into this framework is being viewed as a significant step in connecting traditional finance and blockchain infrastructure.
Rising institutional interestThe move aims to resolve one of the biggest inefficiencies in traditional markets: slow settlement times. Investors’ ability to access their funds without waiting for standard trading cycles may improve cash management and reduce idle capital.
Citing a study by EY Parthenon, Coinbase highlighted that 88% of institutional investors see same-day, T+0 securities settlement as one of stablecoins’ main use cases.
The announcement comes at a time when institutional interest in blockchain-based settlements is rising. Coinbase CEO Brian Armstrong has also renewed his call to reform accredited investor rules in the US, arguing that the current system creates opportunities reserved solely for wealthy investors.
Meanwhile, a partnership established between global digital payments firm Checkout and Coinbase is expanding stablecoin acceptance for institutional clients. These developments further indicate the tightening link between traditional payment channels and blockchain-based settlement systems.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Key HighlightsDollar-Denominated T-Bill Fund Activates USDC Payment ChannelEuro T-Bill Product Enables EURC Transaction CapabilityPartnership Advances Tokenized Investment Product Infrastructure Stablecoin payment integration launches for European UCITS Treasury bill funds
USDC and EURC enable fund subscriptions and withdrawal processing
Infrastructure provided by Coinbase Payments includes wallet, API, and settlement layers
Base layer-2 network facilitates efficient blockchain transaction settlement
Payment method addition maintains existing fund structure and regulatory framework
A collaboration between Coinbase and Spiko has introduced stablecoin payment functionality to European Union-regulated Treasury bill investment vehicles. Eligible investors can now utilize digital currency payment methods for entering and exiting two UCITS-compliant money market products. The development integrates Circle’s USDC and EURC stablecoins within established European regulatory frameworks for mutual funds.
Dollar-Denominated T-Bill Fund Activates USDC Payment Channel The US T-Bills Money Market Fund managed by Spiko has activated USDC acceptance through Coinbase Payments technology. This investment product delivers exposure to short-duration United States Treasury securities while operating within UCITS regulatory parameters. The payment infrastructure encompasses digital wallet functionality, transaction APIs, and backend processing systems supplied by Coinbase.
Transaction finalization occurs on Base, the layer-2 blockchain network developed by Coinbase. This technical architecture creates a bridge between onchain digital assets and traditionally regulated investment vehicles. The arrangement diminishes reliance on conventional banking hours and legacy payment processing systems that impose delays.
The innovation particularly serves corporate treasury operations requiring rapid reallocation between liquid assets and fund positions. Investors gain the ability to initiate subscription requests outside typical banking schedules, encompassing weekends and public holidays. Spiko emphasized that this development introduces an alternative payment channel without modifying the fund’s underlying operational structure or investment strategy.
Euro T-Bill Product Enables EURC Transaction Capability Spiko’s EU T-Bills Money Market Fund has implemented EURC payment acceptance utilizing identical Coinbase technological infrastructure. This fund adheres to UCITS regulatory requirements, which establish European Union benchmarks for investor protection and operational oversight. Coinbase characterized these products as pioneering European UCITS funds offering direct stablecoin payment acceptance.
Upon liquidation, redemption payments can transfer to designated stablecoin wallets in a matter of minutes. This capability provides treasury management teams with accelerated access to capital following position exits. The fund continues operating within its established regulatory guidelines governing subscription and redemption procedures.
This launch arrives during a period of robust UCITS market activity across Europe. According to EFAMA statistics, UCITS products attracted 104 billion euros in net capital inflows during April. This represented a significant reversal from the 41 billion euro net outflow recorded in March, while cumulative 2025 net sales have reached 828 billion euros.
Partnership Advances Tokenized Investment Product Infrastructure Coinbase positioned this collaboration as progress toward modernized payment systems for regulated investment products. Stablecoin-based payment networks can minimize operational friction when clients allocate capital to or withdraw from compliant financial products. The integration creates connectivity between blockchain-based settlement mechanisms and traditional mutual fund administration.
This framework does not transform the underlying investment vehicles into continuously operating products. Rather, it provides qualified investors with an additional funding mechanism for subscriptions and proceeds distribution. This differentiation carries significance because payment processing velocity and fund operational cycles function as distinct elements.
Additional asset management firms have explored comparable tokenized fund applications. WisdomTree secured regulatory authorization this year for continuous secondary market trading in a tokenized Treasury product. Franklin Templeton and Binance have similarly launched tokenized fund instruments available as institutional collateral in off-exchange environments.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
We’re excited to announce that USDC, EURC, and CCTP support are live on Cronos.
Cronos Network is a high-performance, EVM-compatible, Layer-1 (L1) blockchain network supported by Crypto.com, supporting payments, AI-native workflows, and DeFi trading. Native USDC, EURC, and CCTP bring trusted and interoperable stablecoin infrastructure to Cronos’ large and established ecosystem. USDC will also serve as the settlement layer for the Cronos app, the upcoming mobile-first trading platform where users will be able to trade tokenized stocks, crypto, and prediction markets from a single account, with 24/7 markets, and access in 180+ countries.1
With the launch of native USDC, EURC, and CCTP, Cronos gains access to the leading regulated2 dollar and euro stablecoins. This unlocks dollar- and euro-denominated DeFi trading, payments, treasury management, and more on a blockchain designed for EVM compatibility, AI-friendly workflows, and transaction efficiency. Native USDC will also serve as the dollar settlement layer for the Cronos app. Users will be able to deposit dollars and trade every asset class from one account.
Benefits of USDC and EURC on Cronos:
Regulated,2 fully reserved stablecoins redeemable 1:1 for USD and EUR,3 respectivelyInstitutional on/offramps with Circle Mint4 for qualified businesses Integrate easily with apps and protocols on CronosUnlock dollar- and euro-denominated DeFi markets and AI-powered transactionsCCTP on Cronos enables developers to:
Securely and efficiently move USDC between Cronos and other supported blockchainsBuild apps directly on the protocol layer that support high-performance DeFi and AI-powered transactionsKey use cases of USDC and EURC on CronosNative USDC and EURC can help establish a trusted dollar- and euro-denominated ecosystem on Cronos. With MiCA compliance, full reserve backing, and 1:1 redeemability for dollars and euros respectively, USDC and EURC support DeFi, traditional markets, and agent-to-agent transactions by serving as collateral and settlement infrastructure. Establishing deep liquidity for both EUR/EURC and USD/USDC trading pairs can support lower-slippage DeFi activity and AI-driven applications at the scale institutions and enterprises need. Through CCTP, users and developers can move USDC securely across ecosystems without relying on wrapped assets.
Beyond institutional use cases, native USDC will also bring dollar settlement to everyday users. As the dollar layer for the Cronos app, the upcoming mobile-first trading platform, USDC will let people deposit dollars and trade tokenized stocks, crypto, and prediction markets from a single account.
Together, native USDC, EURC, and CCTP can give businesses and developers on Cronos access to regulated2 fiat rails for institutional-grade trading, programmable payments, and compliant onchain settlement. While USDC is widely used around the world, euro-denominated EURC may be especially well suited for payments, settlement, and other onchain activity within the EU, where 1:1 euro redeemability and MiCA compliance can help support trusted euro-denominated use cases.
Popular Cronos apps include: Crypto.com, LI.FI, Relay, VVS, Wolfswap.
Bridged vs native USDC on CronosCronos also supports bridged USDC (i.e., USDC.e), a non-native version of USDC. The Cronos team plans to work with ecosystem apps and protocols to smoothly migrate bridged USDC liquidity to native USDC over time.
This gives Cronos the same native stablecoin features that are already available on other supported chains. There is no immediate impact to existing bridges and they will continue to operate normally. Bridged USDC will remain clearly labeled as “USDC.e” in block explorers, app interfaces, and documentation.
Get started todayBusinesses can access institutional on/offramps to convert to Circle stablecoins on Cronos by applying for a Circle Mint4 account. Individuals and smaller institutions can access USDC and EURC through various exchanges, wallets, and providers. Visit circle.com/eurc and circle.com/usdc to learn more.
Get started today with our developer docs for USDC, EURC, and CCTP. Both USDC and EURC are open-source, permissionless stablecoin protocols that anyone can build with.
1 Products may be subject to jurisdictional availability
2 USDC is issued by regulated affiliates of Circle. EURC is issued by Circle Internet Financial Europe SAS. A list of Circle’s regulatory authorizations can be found here.
3 Circle Mint customers are able to redeem USDC and EURC directly from Circle. In addition, Circle will redeem all USDC and EURC presented to it for redemption in compliance with MiCAR, regardless of whether the holder is a Circle Mint customer. Circle Mint is currently available only to institutions and is not available to individuals.
4 Circle Mint and money transmission services are provided by Circle Internet Financial, LLC, NMLS # 1201441, and Circle Internet Financial Europe SAS, Electronic Money Institution License No. 17788, when provided in France.
