# Circle stablecoin market expansion and regulation > Live situation record from CLSTR: https://clstr.news/situations/circle-stablecoin-market-expansion-and-regulation > Updated: 2026-08-17T22:06:51.000Z. Sources: 6. Developments: 2. Circle, the issuer of the USDC stablecoin, is undergoing a strategic evolution from a reserve-based interest income model toward becoming a critical payments infrastructure provider. Analysts suggest the company may be undervalued as the total stablecoin market approaches a projected $1 trillion valuation, driven by expanding use in cross-border settlements, derivatives, and decentralized finance. In the European market, Circle’s euro-denominated stablecoin, EURC, has seen significant growth, surpassing €400 million in circulation. This expansion, representing a fivefold increase over the previous year, is attributed to the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation. The MiCA framework has provided a clear compliance structure that favors assets like EURC, which maintain 1:1 reserves in regulated European banks and undergo monthly independent attestations. The company’s long-term trajectory remains influenced by regulatory developments, including ongoing legislative debates in the United States regarding the legal standing of non-bank issuers. ## Timeline ### 2026-08-17: Circle’s EURC stablecoin surpasses €400M in circulation Circle’s EURC stablecoin has exceeded €400 million in circulation, driven by MiCA regulatory compliance and expanded multi-chain integration within the euro digital asset market. 4 sources. https://clstr.news/cluster/circles-eurc-stablecoin-surpasses-400m-in-circulation ### 2026-08-11: Circle undervalued as stablecoin market nears $1 trillion, says Bitwise analyst Bitwise analyst Ryan Rasmussen argues Circle is undervalued as stablecoin market caps approach $1 trillion, noting the company's shift from a simple issuer to a major payments infrastructure provider. 3 sources. https://clstr.news/cluster/circle-undervalued-as-stablecoin-market-nears-1-trillion-says-bitwise-analyst --- Cite as: Circle stablecoin market expansion and regulation. CLSTR, https://clstr.news/situations/circle-stablecoin-market-expansion-and-regulation