Circle’s EURC Euro Stablecoin Surpasses €400 Million in Circulation

Circle’s EURC Euro Stablecoin Achieves Milestone

Circle’s euro-backed stablecoin, EURC, has surpassed €400 million in circulation, marking a substantial growth in its supply over the past year. This surge reflects increased support and integration across exchanges, payment providers, and institutional platforms.

Growth in Supply and Adoption

As of August 13, 2026, EURC’s circulation reached €402.4 million, which indicates that the supply has more than doubled since the previous year. The growth is attributed to greater adoption on major blockchains, exchanges, and payment platforms. The overall supply of euro stablecoins was reported to be around €650 million by June 2026, with EURC holding a significant portion of this market share.

Expanded Use Cases

Circle’s EURC is now widely used in trading, payments, foreign exchange, treasury operations, and institutional settlement. Previously, users had to depend on dollar stablecoins for their transactions between fiat euros and digital assets due to limited liquidity in euro-denominated on-chain markets. However, this scenario has changed with EURC becoming the primary euro-denominated asset for users.

Integration Across Blockchains

Launched on the Ethereum network in June 2022, EURC has expanded to five blockchains, including Avalanche, Stellar, Solana, and Base since 2023. By late 2024, its circulation stood at approximately €80 million. Following the blockchain expansions, the stablecoin’s circulation continued to rise significantly, partly due to listings on platforms such as Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken. These listings enable users to access EURC/EUR and EURC/USD trading pairs without needing to rely on dollar stablecoins.

Payment Network Collaborations

The integration of EURC into major payment frameworks has also been pivotal. In August 2025, Circle expanded its stablecoin settlement with Mastercard to support EURC, facilitating payments for merchants in Eastern Europe, the Middle East, and Africa. Visa and Mastercard integrations during 2024 and 2025 further enhanced EURC’s utility, enabling it to be used for cross-border transfers and euro-denominated settlements.

Regulatory Compliance and Future Perspectives

Circle’s EURC is categorized as an electronic money token under the EU’s Markets in Crypto-Assets Regulation, with its issuance managed through a licensed electronic money institution in France. This compliance provides a clear regulatory framework that facilitates the use of euro-denominated digital assets in financial operations. Circle has argued for adjustments in the regulatory landscape to ensure more flexible operational thresholds for euro stablecoins, advocating for fewer barriers that could hinder liquidity and institutional usage.

Growing Competition in Euro Stablecoin Market

While the dominance of dollar-pegged stablecoins remains, Circle notes that euro stablecoins are emerging as the second-largest fiat stablecoin sector. The recent increase in supply highlights growing competition, especially as European banks are preparing to introduce their own regulated digital currencies. The banking consortium Qivalis has expanded its participant base, indicating a robust interest in launching MiCA-compliant euro stablecoins.

Circle’s future plans include enhancing the usability of EURC to ensure it meets the growing demand in the eurozone, aiming to tap a much larger market than its current circulation.