Circle has established its euro-pegged stablecoin EURC as the undisputed leader of the sector with a market capitalization of approximately $526 million, representing roughly 63% of the euro stablecoin market. EURC’s circulating supply has grown by over 100% in the past twelve months, reaching approximately €400 million, and up to 5 times since the EU’s MiCA regulation took effect in 2024. The broader euro stablecoin market is projected to reach approximately €650 million by mid-2026. The issuer has deployed its token across multiple blockchains including Ethereum, Base, Solana, Avalanche, and Stellar, and integrated with platforms such as Coinbase, Kraken, and Bitstamp, while institutional deposits on decentralized finance stand at roughly $76-77 million, primarily on Aave V3. Competitors EURCV and EURI remain hopelessly behind, with the gap appearing to widen as institutional users favor the most liquid and best-distributed asset.
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