Revolut launched its first euro-pegged stablecoin, EURR, on August 26, just days before the planned delisting of USDT on August 31 due to MiCA compliance requirements. Euro stablecoins saw a 137% adoption growth over 30 days, reaching a volume of $15 billion, compared to a 22% increase to nearly $7 trillion for USD stablecoins. The total supply of euro stablecoins stands at $772 million, with Circle’s EURC accounting for over 50% at $455 million. Analyst Scott Melker criticized the product, stating that euro stablecoins lack global competitiveness as nobody truly wants to use euros outside Europe. Europe currently ranks second in stablecoin transactions with a 26% market share.
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