Euro stablecoins double in a year, but still lag far behind the US dollar

[BlockBeats] One year after the implementation of the EU’s MiCA regulatory framework, the euro stablecoin market is finally showing some signs of improvement. According to the latest data from Coingecko, the current total market cap of euro stablecoins is about $683 million, which has doubled compared to a year ago. However, when you compare this to the more than $30 billion market size of USD stablecoins, it still looks pretty insignificant.

The recently released “2025 Euro Stablecoin Trend Report” by payment company Decta highlighted an interesting phenomenon—the growth is basically concentrated among a few top players. For example, EURS saw its market cap increase by 6.44%, while Circle’s EURC and Société Générale’s EURCV performed even more strongly, with trading volumes skyrocketing by 1,139% and 343%, respectively—an impressive growth rate.

What’s even more telling is user interest. In Finland, searches for euro stablecoins jumped by 400%, and in Italy, they rose by 313.3%. Even smaller markets like Cyprus and Slovakia have started to see steady growth. It appears that after regulatory clarity, Europeans are gradually becoming more comfortable with local stablecoins. Still, catching up to the dominance of USD stablecoins is going to be a long journey.