EURC Stablecoin Tops €400M as Circle Pushes for Regulatory Clarity
Circle's euro-backed stablecoin EURC has reached a significant milestone, surpassing €400 million in circulation. This represents more than double its supply over the past year, fueled by growing adoption across major blockchains, exchanges, payment networks, and institutional platforms.
EURC operates as a MiCA-compliant e-money token issued by Circle's licensed entity in France, with monthly reserves independently verified. Despite this strong growth, Circle is urging EU regulators to ease rules that could limit smaller euro stablecoins' use in institutional settlements.
The euro stablecoin market remains relatively small compared to the overall euro money supply. This situation highlights the need for regulatory clarity and potential adjustments to facilitate wider adoption of these assets.