The euro stablecoin market has rebounded in the year since the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) came into effect, doubling in market capitalization following the introduction of the regulations governing the tokens in June 2024, according to a new report.
London-based payment processing company Decta’s European Stablecoin Trends Report 2025 points to a potential shift for these tokens, which have their value pegged to the single European currency and have historically struggled to gain traction with their U.S. dollar-pegged counterparts. The fluctuation contrasted with a 48% contraction the previous year, the report said. This is also in sharp contrast to the 26% increase in the total market value of stablecoins.
The report said that the euro coin market capitalization will climb to approximately $500 million by May 2025, mainly due to improved issuer obligations and standardized reserve requirements. That number currently stands at $680 million, according to data tracked by CoinGecko. Even so, that’s just a fraction of the $300 billion in USD-pegged tokens, a market dominated by Tether’s USDT and Circle Internet’s (CRCL) USDC in second place.
The growth is particularly concentrated on a few outstanding coins. EURS issued by Malta-based Stasis saw the most significant gains, surging 6.44% to $283.9 million in October 2025. Circle Internet’s EURC and EURCV from Societe Generale SG-Forge also recorded significant gains.
Trading activity surged simultaneously. Monthly euro stablecoin trading volume increased nearly ninefold after MiCA implemented $3.83 billion. EURC and EURCV were the biggest beneficiaries, with transaction volumes growing by 1,139% and 343% respectively, driven by increased usage in payments, fiat currency onboarding and digital asset trading.
Consumer awareness also appears to be on the rise. Decta saw significant increases in search activity across the EU, with a 400% increase in Finland, a 313.3% increase in Italy, and small but steady growth in markets such as Cyprus and Slovakia.
