Circle's EURC Stablecoin Surpasses €400 Million in Circulation

Circle's euro-backed stablecoin EURC has seen its circulation surpass €400 million after more than doubling in supply over the past year. The token is now supported across major blockchains, exchanges, payment networks, and institutional platforms.

The increase in supply is attributed partly to distribution across financial platforms, which has made it easier for users to access euro-denominated stablecoins. Previously, users had to rely on dollar stablecoins as intermediary assets when moving between fiat euros and digital assets.

Circle operates EURC as an electronic money token under the European Union's Markets in Crypto-Assets Regulation (MiCA), with issuance handled through its licensed entity in France. The company has argued that existing European financial-market rules can restrict the use of euro stablecoins, even when issuers comply with MiCA.

Circle is seeking to change parts of the European Commission's proposed Market Integration Package to allow for more flexible thresholds for e-money tokens used in settlement and to let crypto-asset service providers participate more directly in the EU's Distributed Ledger Technology Pilot Regime.