December 7, 2025
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Euro Stablecoin Market Cap Doubles in Year After MiCA, Study Finds

Prior to MiCA, euro-denominated stablecoins’ market cap contracted by 48% in the year leading up to June 2024.”, — write: www.coindesk.com

Euro Stablecoin Market Cap Doubles in Year After MiCA, Study FindsPrior to MiCA, euro-denominated stablecoins’ market cap contracted by 48% in the year leading up to June 2024. Dec 6, 2025, 1:00 pm

The euro stablecoin market has rebounded in the year since the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) came into force, with market capitalization doubling after regulations governing the tokens rolled out in June 2024, according to a new report.

The “Euro Stablecoin Trends Report 2025” from London-based payments processing company Decta points to a potential shift for the tokens, whose value is pegged to the single European currency and which have historically struggled to gain traction against their US dollar-pegged counterparts. The swing contrasts with the 48% contraction experienced the year before, according to the report. It also contrasts with a 26% advance in total stablecoin market cap.

Euro coin market cap climbed to some $500 million by May 2025, the report said, mainly due to improved issuer obligations and standardized reserve requirements. It’s now $680 million, according to data tracked by CoinGecko. Even so, that’s just a tiny fraction of the $300 billion held in US dollar-pegged tokens, a market dominated by Tether’s USDT with Circle Internet’s (CRCL) USDC in second place.

Growth has been especially concentrated among a few standout tokens. EURS, issued by Malta-based Stasis, posted the most dramatic gains, soaring 644% million to $283.9 million by October 2025. Circle Internet’s EURC and EURCV, from Societe Generale’s SG-Forge, also recorded significant gains.

Transaction activity surged in parallel. Monthly euro-stablecoin volume rose nearly ninefold after MiCA’s implementation US$3.83 billion. EURC and EURCV were among the biggest beneficiaries, with volume expanding 1.139% and 343% respectively, driven by increased usage in payments, fiat on-ramps and digital-asset trading.

Consumer awareness also appears to be climbing. Decta found substantial spikes in search activity across the EU, including 400% growth in Finland and 313.3% in Italy, with smaller but steady increases in markets such as Cyprus and Slovakia.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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