The euro-denominated stablecoin market has undergone a remarkable transformation in the year since the European Union’s landmark Markets in Crypto-Assets Regulation (MiCA) took effect in June 2024, nearly doubling in size to reach approximately $680 million in market capitalization.
The sharp rebound reverses a previous 48% market contraction and signals surging confidence among issuers and users following the implementation of clearer regulatory standards.
According to the Euro Stablecoin Trends Report 2025 by Decta, the sector’s market capitalization surged past $500 million by May 2025, largely attributed to MiCA’s rules on standardized reserves, custody, and public disclosures for stablecoin issuers.
While the current $680 million market cap (per CoinGecko) remains tiny compared to the nearly $300 billion US dollar stablecoin market, its growth rate has been explosive, outpacing the broader stablecoin market’s 26% growth over the same period.
-
Market Concentration: Growth has been primarily driven by major, regulated issuers. Stasis’ EURS saw the most significant expansion, soaring 644% to $283.9 million as of October 2025.
-
Key Players: Circle’s EURC and Societe Generale’s EURCV also posted meaningful increases, capitalizing on the regulatory clarity.
-
Surging Activity: Monthly transaction volume for euro stablecoins jumped nearly ninefold after MiCA implementation, reaching $3.83 billion. EURC and EURCV led this surge, with volumes climbing 1,139% and 343% respectively, fueled by use in cross-border payments and crypto trading pairs.
The regulatory shift is also generating increased public awareness, with Decta recording sharp spikes in search activity for euro stablecoins across the EU, including a 400% jump in Finland.
