Euro Stablecoin Market Sees Significant Growth to $680 Million Post-MiCA Implementation

The euro stablecoin market has experienced remarkable growth over the past year, doubling in value following the implementation of the European Union's Markets in Crypto-Assets Regulation (MiCA). This uptick has been driven by clearer rules for issuers.

Key Takeaways:

The euro stablecoin market has doubled, reaching approximately $680 million in market capitalization since the rollout of MiCA.
Notable growth has been seen in key issuers like EURS, EURC, and EURCV, with transaction volumes increasing nearly ninefold.
Public interest is on the rise throughout the EU, indicating a trend towards greater adoption.

According to Decta’s Euro Stablecoin Trends Report 2025, the market capitalization for euro stablecoins has rebounded significantly from the previous year, recovering from a 48% decline and outpacing the 26% growth rate of the wider stablecoin market.

Euro Stablecoin Market Doubles to $680M A Year After MiCA

Euro Stablecoins Surge to $680 Million After MiCA

Decta’s report indicates that euro-denominated stablecoins reached nearly $500 million by May 2025, following MiCA's introduction in June 2024. This turnaround has been attributed to clearer obligations for issuers and standardized rules regarding reserves.

Currently, the market sits at about $680 million, as reported by CoinGecko. However, this figure remains small compared to the $300 billion locked in US dollar-backed tokens, where USDT and USDC dominate.

Much of the expansion in this sector is attributed to a few standout issuers. Stasis’ EURS showed the largest growth, skyrocketing by 644% to $283.9 million as of October 2025.

Circle’s EURC and Societe Generale’s EURCV also reported substantial gains as regulated entities began to benefit from MiCA’s clear guidelines on custody, reserves, and public disclosures.

On-chain activity has surged in parallel with the market's growth. Decta noted that monthly transaction volumes for euro stablecoins rose almost ninefold to $3.83 billion after MiCA was implemented.

EURC and EURCV were particularly instrumental in this surge, with transaction volumes increasing by 1,139% and 343%, respectively. This growth was supported by increased adoption in cross-border payments, fiat on-ramps, and crypto trading pairs—areas that had previously been dominated by dollar stablecoins.

The regulatory changes have also sparked increased public interest. Decta recorded notable spikes in search activity throughout EU markets, including a 400% increase in Finland and a more than threefold rise in Italy.

Interest has surged in smaller economies too, highlighting a growing consumer awareness as euro-denominated tokens start to establish a clearer role within Europe’s digital-asset ecosystem.

Poland Still Awaiting MiCA Regulations

In related news, Poland remains the only EU member state without MiCA regulations. The country's effort to align its crypto sector with the EU's MiCA framework fell through when lawmakers failed to overturn President Karol Nawrocki’s veto of a significant digital-asset bill.

The vote did not meet the necessary three-fifths majority required, forcing Poland to revisit the legislative process without national MiCA-style regulations. Prime Minister Donald Tusk emphasized the need for the bill to ensure national security, citing concerns that unregulated crypto activities have become pathways for money laundering and foreign interference, particularly involving covert financing related to Russia and Belarus.

Recent security incidents, including allegations of sabotage plots financed through cryptocurrencies, have highlighted these concerns. The veto has further escalated political tensions between President Nawrocki and Tusk’s pro-EU coalition, with the president justifying his decision by asserting that the bill exceeded EU requirements and posed potential risks to civil liberties and property rights.