EURC Surpasses €400M in Circulation, Dominating Euro Stablecoin Market

Circle's euro-pegged stablecoin EURC has surpassed €400 million in circulation, marking a significant milestone for euro liquidity on-chain.

This achievement comes roughly twelve months after EURC doubled its supply, reaching between 393 and 406 million tokens. Each token is redeemable 1:1 for euros, backed by reserves held in regulated European banks and verified through monthly independent attestations.

The growth of EURC aligns with the enforcement of the European Union's Markets in Crypto-Assets regulation (MiCA), which created a clear compliance framework for stablecoins operating in Europe. Tokens that met the requirements received a regulatory green light, while those that didn't faced delisting pressure from major exchanges.

EURC now commands an estimated 41% to 65% of the euro stablecoin market, depending on the data source. The token's multi-chain presence across five blockchain networks, Ethereum, Solana, Avalanche, Stellar, and Base, allows it to serve different use cases on various infrastructure.