Circle’s EURC stablecoin surpasses €400M in circulation

Circle’s euro-denominated stablecoin, EURC, has surpassed €400 million in circulation, marking a significant milestone for euro-based digital liquidity. This growth represents approximately five times the supply seen a year ago.

The surge in adoption is largely attributed to the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation. MiCA established a clear compliance framework for stablecoins, favoring assets like EURC that meet stringent requirements for reserve backing, governance, and redemption rights. Consequently, EURC now commands a substantial portion of the euro stablecoin market, with estimates placing its market share between 41% and 65%.

EURC is backed 1:1 by reserves held in regulated European banks and undergoes monthly independent attestations to ensure transparency. The asset is deployed across multiple blockchain networks, including Ethereum, Solana, Avalanche, Stellar, and Base, facilitating various use cases ranging from decentralized finance to institutional transfers.