The euro stablecoin market has recovered in the year since the European Union (EU) Markets in Crypto Assets Regulation (MiCA) came into force, with market capitalization doubling after regulations governing the tokens were implemented in June 2024, according to a new report.
The “Euro Stablecoin 2025 Trends Report” from London-based payment processing company Decta signals 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 previous year, according to the report. It also contrasts with a 26% advance in the total market capitalization of stablecoins.
The market capitalization of euro coins increased to about $500 million in May 2025, according to the report, mainly due to improved issuer liabilities and standardized reserve requirements. Now it’s $680 million, according to data tracked by CoinGecko. Still, that’s just a small fraction of the $300 billion held in tokens pegged to the US dollar, a market dominated by Tether’s USDT with Circle Internet’s (CRCL) USDC in second place.
The growth has been especially concentrated in a few prominent tokens. EURS, issued by Malta-based Stasis, posted the most spectacular gains, soaring 644% million to $283.9 million in October 2025. Circle Internet’s EURC and EURCV, from Societe Generale’s SG-Forge, also posted significant gains.
Transactional activity increased in parallel. Monthly euro stablecoin volume increased almost ninefold after the implementation of MiCA by $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 onramps and digital asset trading.
Consumer awareness also appears to be increasing. 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.
