MiCA-compliant euro stablecoins market cap rises 128% before EU deadline

The market cap of eight MiCA-compliant euro stablecoins increased by 128% before the end of the EU's crypto transition period. The total market cap rose from 295.6 million dollars on June 30, 2025, to 673.9 million dollars on June 28, 2026. EURC, EURCV, and EURI were the main contributors to this growth as new licensed euro tokens entered the market. Trading volume for these stablecoins also increased by 43.1%, from 47 million dollars to 67.3 million dollars, with the number of compliant euro stablecoins with active market data rising from five to eight. Despite this growth, euro stablecoins still represent less than 1% of the broader stablecoin market, which is valued at approximately 308 billion dollars, dominated by dollar-backed tokens like USDT and USDC. The report was released after the MiCA transition period ended, which requires crypto firms serving EU users to obtain CASP licenses. This regulatory change has impacted the stablecoin market, leading to the removal of USDT from regulated EU exchanges. The rise of euro stablecoins has sparked ongoing policy debates, with some industry groups arguing that MiCA enhances safety but reduces competitiveness due to reserve rules. The European Central Bank has expressed concerns that euro stablecoins could disrupt bank lending and monetary policy.

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