The State of Euro Stablecoins 2025
Inside the report
- 01Euro stablecoins represent less than 1% of total stablecoin issuance, despite the euro serving 350M+ people and a $19 trillion economy.
- 02MiCAR now provides foundational support for compliant, scalable euro stablecoin adoption across the EU.
- 03Issuance and distribution trends following MiCAR implementation.
- 04Regulatory positioning and compliance outcomes across projects.
- 05Market strategies compared: CEX-first versus DeFi-first approaches.
- 06Market share, major holders, and ecosystem adoption patterns.
- 07Chain-specific deployment analysis across networks.
In this report, we share insights from more than €8.1 billion in cumulative onchain volume, tracking eleven euro-denominated stablecoins across Ethereum, Solana, Polygon, and Avalanche, using data from Range's Stablecoin Explorer and Faraday's intelligence infrastructure.
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About the report
The euro serves more than 350 million people and a $19 trillion economy, yet euro stablecoins represent less than 1% of total stablecoin issuance. With MiCAR now enforced across the EU, the report examines the regulatory foundation for compliant, scalable euro stablecoin adoption.
Inside: issuance and distribution trends following MiCAR, regulatory positioning and compliance outcomes across projects, CEX-first versus DeFi-first growth strategies compared, market share and major holders, and chain-by-chain deployment patterns.
It's written for fintech teams, DeFi builders, institutions supporting payment flows, and anyone evaluating euro stablecoin integrations.
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