Euro stablecoins more than double thanks to MiCA: the winners
Since the MiCA transition period ended on 30 June, the euro stablecoin market has been growing rapidly: +128% in a year. Eight tokens are fully compliant, with Circle's EURC well in the lead and even Société Générale on the list.
The euro stablecoin market has grown by 128% in a single year: from around 296 million dollars (roughly €259 million) in mid-2025 to nearly 674 million dollars (roughly €590 million) at the end of June, peaking above 700 million dollars (roughly €615 million) in early June. The catalyst: on 30 June 2026 the MiCA transition period expired for good, meaning any provider operating in the EU without a licence is now in breach of the law.
Eight compliant tokens, banks joining in
By mid-2026, eight euro stablecoins meet all MiCA requirements. Circle's EURC is the undisputed market leader at around 430 million dollars (roughly €375 million). Next comes EURCV from SG-Forge (Société Générale) at roughly 138 million dollars (roughly €120 million) — an established bank with its own stablecoin. The rest: EURI from Banking Circle at roughly 51 million dollars (roughly €44.6 million), EURE from Monerium at roughly 30 million dollars (roughly €26.3 million) and the smaller EUROP, EURQ, EURR and EURAU, each below 13 million dollars.
Regulation as a growth engine
MiCA requires every euro stablecoin to be backed 1:1 by fiat currency and issued by a licensed electronic money institution. Non-compliant tokens disappeared from European exchanges; regulated alternatives filled the gap. Trading is picking up too: average daily volume rose 43% to over 67 million dollars (roughly €59 million). For European users the benefit is tangible: no euro-dollar exchange rate risk, and certainty that real euros back their balance.
Caveat: still small fry
Compared with dollar stablecoins — worth hundreds of billions — the euro market remains modest. But the infrastructure and regulatory framework are in place, and with banks stepping in, the euro is finally earning a serious place in the crypto world.
Sources: The Cryptonomist, The Block. Last checked: 18 July 2026.