The euro stablecoin market has rebounded in the year since the European Union’s (EU) Markets in Crypto-Asset (MiCA) Regulation came into force, with market capitalization doubling after the regulations governing the tokens were rolled out in June 2024, according to a new report.
The “Euro Stablecoin Trends Report 2025” from London-based payment processing company Decta highlights a potential shift for the tokens, whose value is pegged to the single European currency and which have historically struggled to gain ground against their U.S. dollar-pegged counterparts. This development contrasts with the 48% contraction recorded the previous year, according to the report. This also contrasts with a 26% increase in the total market capitalization of stablecoins.
The market capitalization of euro coins jumped to some $500 million in May 2025, the report said, mainly due to improved issuer obligations and standardized reserve requirements. It now stands at $680 million, according to data tracked by CoinGecko. Still, this represents only a tiny fraction of the $300 billion held in US dollar-pegged tokens, a market dominated by Tether’s USDT, with Circle Internet’s USDC (CRCL) in second place.
The growth has been particularly concentrated in a few notable tokens. EURS, issued by Malta-based Stasis, saw the most dramatic gains, climbing 644% to $283.9 million in October 2025. Circle Internet’s EURC and Société Générale’s EURCV, SG-Forge, also saw significant gains.
Transaction activity increased in parallel. The monthly volume of euro stablecoins increased almost ninefold after the implementation of MiCA, to $3.83 billion. EURC and EURCV were among the biggest beneficiaries, with volume up 1,139% and 343% respectively, due to increased usage in payments, fiat on-ramps, and digital asset trading.
Consumer awareness also appears to be increasing. Decta has seen substantial spikes in search activity across the EU, including growth of 400% in Finland and 313.3% in Italy, with smaller but steady increases in markets such as Cyprus and Slovakia.
