Euro Stablecoins Surge After MiCA: Market Cap Doubles and Transaction Volumes Jump 899%

Source: ETHNews Original Title: Euro Stablecoins Surge After MiCA: Market Cap Doubles and Transaction Volumes Jump 899% Original Link: The introduction of Europe’s Markets in Crypto-Assets (MiCA) framework on 30 June 2024 has reshaped the euro-pegged stablecoin sector.

One year later, a clearer pattern has emerged: regulated assets are expanding rapidly, consumer interest is rising across the EU, and MiCA-authorized issuers are capturing market share from legacy or non-compliant tokens.

Below is a data-driven breakdown of the most important findings from the first year of post-MiCA stablecoin activity.

Market Capitalization After MiCA: +102% Growth

Euro-stablecoin capitalization entered a new phase following MiCA:

• Total euro-stablecoin market cap hit $500M in May 2025.
• EURS surged 643.86%, rising from $38.2M to $283.9M by October 2025.
• In the 12 months before MiCA, market cap dropped 48%.
• In the 12 months after MiCA, market cap grew 102%, fully reversing earlier declines.

This shift reflects investor confidence returning once clear regulatory rules for redemption rights, reserves and issuer licensing were enforced.

Transaction Volume Skyrockets: +899% EU-Wide

MiCA’s impact on transaction activity was even more dramatic:

• Monthly transaction volumes jumped from $383M to $3.832B – an 899.3% increase.
• EURC transaction volumes rose 1139.42%, leading all assets.
• EURCV followed with a 343.26% volume increase.

By late 2025, monthly usage reached the highest levels ever recorded for euro-denominated stablecoins.

Winners and Losers: Which Stablecoins Are Growing?

Fastest-Growing MiCA-Aligned Tokens

• EURØP, EURR, and EUROe gained traction as fully compliant products.
• EURC expanded across multiple blockchains and saw the strongest usage surge.
• EURCV, issued by institutional providers, grew in institutional and tokenization markets.

Stablecoins Facing Decline or Limits

• EURT remains widely used but not MiCA-authorized, limiting EU access.
• Algorithmic or synthetic assets such as sEUR, PAR, and EURA saw reduced visibility due to stricter rules.

Regulation is now clearly shaping winners: MiCA-approved, fiat-backed products.

Consumer Survey: Bitcoin Still Dominates Payments

A survey of 1,160 EU respondents who used crypto for online payments revealed:

• 55.17% used Bitcoin for their latest transaction – the top choice.
• 21.21% used USD stablecoins.
• Only 3.62% used euro stablecoins.
• 56.7% said they are very likely to use crypto for payments again within 12 months.
• 78.3% used crypto for services, while 21.7% used it for products.

Despite MiCA’s impact, euro-stablecoin payment adoption remains in its early stages.

Where Europeans Are Buying Stablecoins: Search Interest +198% on Average

Consumer search behaviour shows growing curiosity toward euro-pegged stablecoins:

Largest Post-MiCA Increases

• Finland: +400%
• Italy: +313.3%
• Romania: +300%
• Sweden, Germany, Netherlands: +280% to +300%

Lowest Growth or Declines

• Spain: +85.7%
• Bulgaria, Slovenia: +100%
• Latvia: -33.3% (only EU country with a drop)

Average EU-wide growth reached +198.3%.

Search Demand for Specific Euro Stablecoins (EURC, cEUR, EURT)

Interest in buying or transferring the three top euro stablecoins rose in most markets:

• Cyprus: +133.3%
• Slovakia: +100%
• Austria, Czechia, Sweden: +80% to +87.5%
• Netherlands: +64.3%
• Italy: +58.3%

Declining markets included:

• Slovenia, Belgium, Hungary: -14% to -18%
• Malta: -50% (largest drop)

Gaps between markets indicate uneven consumer readiness across the EU.

What Comes Next in 2026

Euro-stablecoin adoption is expected to accelerate throughout 2026. Several drivers stand out:

1. Issuer Expansion Growth will depend on how rapidly MiCA-licensed issuers scale banking rails, distribution and cross-border access.

2. Institutional Adoption As tokenized bonds, securities and settlement networks rise, demand for compliant euro tokens will increase.

3. Consumer Payment Growth EU consumers show rising awareness, but adoption varies widely by country.

4. Shift Away From Non-Compliant Tokens Exchanges and payment providers are gradually phasing out unregulated euro assets.

By late 2026, the market is expected to be more consolidated, regulated and utility-driven – with euro stablecoins becoming a core component of Europe’s digital financial infrastructure.