Euro stablecoin supply hits $848.1M, up 22.6% since start of year

The supply of euro-pegged stablecoins reached $848.1 million, up 22.6% since the start of the year, according to a Sept. 7 data analysis by Token Terminal. While the market remains just one-350th the size of the U.S. dollar stablecoin market, the pace of on-chain inflows into euro-based assets has been rising sharply. EURC and EURCV, the latter issued by a Societe Generale subsidiary with a MiCA license, account for 82% of the market. By chain, Ethereum absorbed 69.4% of new inflows and Solana took 14.7%. The analysis indicated, however, that current supply growth is being led more by issuers than by underlying user demand, leaving limited euro liquidity in DeFi and a supply-demand gap as key challenges ahead.