Euro Stablecoin Market Cap Doubles in Year After MiCA, Study Finds

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Euro Stablecoin Market Cap Doubles in Year After MiCA, Study Finds Prior to MiCA, euro-denominated stablecoins' market cap contracted by 48% in the year leading up to June 2024. By Jamie Crawley , AI Boost | Edited by Sheldon Reback Dec 6, 2025, 1:00 p.m. (jojooff/Pixabay modified by CoinDesk) What to know : Euro-stablecoin market capitalization more than doubled in the 12 months after the June 2024 rollout of relevant MiCA regulations, reversing a 48% decline from the prior year. EURS, EURC and EURCV saw the strongest gains. Monthly euro stablecoin activity jumped US$3.8 billion from US$383 millionand consumer search interest rose sharply across multiple EU countries. The euro stablecoin market has rebounded in the year since the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) came into force, with market capitalization doubling after regulations governing the tokens rolled out in June 2024, according to a new report. The “Euro Stablecoin Trends Report 2025” from London-based payments processing company Decta points a potential shift for the tokens, whose value is pegged to the single European currency and which have historically struggled to gain traction against their U.S. dollar-pegged counterparts. The swing contrasts with the 48% contraction experienced the year before, according to the report. It also contrasts with a 26% advance in total stablecoin market cap. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Euro coin market cap climbed to some $500 million by May 2025, the report said, mainly due to improved issuer obligations and standardized reserve requirements. It's now $680 million, according to data tracked by CoinGecko . Even so, that's just a tiny fraction of the $300 billion held in U.S. dollar-pegged tokens, a market dominated by Tether's USDT with Circle Internet's (CRCL) USDC in second place. Growth has been especially concentrated among a few standout tokens. EURS , issued by Malta-based Stasis, posted the most dramatic gains, soaring 644% million to $283.9 million by October 2025. Circle Internet's EURC and EURCV , from Societe Generale's SG-Forge, also recorded significant gains. Transaction activity surged in parallel. Monthly euro-stablecoin volume rose nearly ninefold after MiCA’s implementation US$3.83 billion. EURC and EURCV were among the biggest beneficiaries, with volume expanding 1,139% and 343% respectively, driven by increased usage in payments, fiat on-ramps and digital-asset trading. Consumer awareness also appears to be climbing. Decta found substantial spikes in search activity across the EU, including 400% growth in Finland and 313.3% in Italy, with smaller but steady increases in markets such as Cyprus and Slovakia. Euro Stablecoins Markets AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. 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