Euro-denominated stablecoins have doubled their combined market capitalization following the implementation of the EU’s Markets in Crypto-Assets (MiCA) rules in 2024, according to a report by London-based payments firm Decta. The growth represents a sharp reversal from earlier declines in the euro stablecoin sector.
Circle’s EURC has emerged as a leading option, with increased transaction activity and greater exchange support since MiCA took effect. EURS, a euro-pegged token designed for stable value transfers within crypto, also showed notable gains in adoption. Another euro-backed token, EURCV, has seen accelerated usage alongside other compliant euro stablecoins.
MiCA introduced uniform oversight for euro stablecoins across the EU, reducing regulatory uncertainty and strengthening consumer protections. As issuers adapt to the new framework, the market appears to be entering a more structured transition phase with clearer regulatory expectations, which Decta attributes to the boost in trust and on-chain activity.
