Circle's EURC Surpasses €400 Million in Circulation, Doubling Supply in a Year
Key Takeaways
- •EURC has exceeded €400 million in circulation and doubled its supply over the past year.
- •Circle issues EURC as the euro counterpart to USDC, its U.S. dollar stablecoin.
- •EURC is used for cross-border payments, DeFi, and digital asset trading across multiple blockchain networks.
- •Circle says EURC is MiCA-compliant and publishes monthly third-party reserve attestations.
- •The rise of EURC reflects broader demand for euro-backed stablecoins in a market still dominated by U.S. dollar-pegged assets.
Circle's EURC, the company's euro-backed stablecoin, has surpassed €400 million in circulation, marking a significant milestone for the digital asset. Circle also issues USDC, the second-largest U.S. dollar stablecoin, making EURC the firm's euro counterpart within one of the most established stablecoin product families. According to the latest figures, EURC's supply has doubled over the past year, reflecting growing demand for euro-denominated stablecoins and rising adoption of the token across the crypto ecosystem.
The growth comes as businesses, exchanges, and users continue seeking alternatives to U.S. dollar-backed stablecoins for payments, trading, and on-chain finance. The milestone also underscores the expanding role of euro-based digital currencies in global blockchain markets, even though euro-pegged tokens collectively remain a small fraction of a global stablecoin market whose overall supply is measured in the hundreds of billions of dollars.
Demand for Euro Stablecoins Grows
The rapid expansion of EURC's circulation points to rising interest in stablecoins pegged to the euro, and the token ranks among the largest euro-denominated stablecoins by circulating supply. Euro-backed stablecoins are increasingly being used for cross-border payments, decentralized finance (DeFi), and digital asset trading, with EURC available across multiple blockchain networks, including Ethereum, Base, Avalanche, Solana, and Stellar. As regulatory frameworks for stablecoins continue to evolve, demand for compliant euro-denominated digital currencies has also grown, particularly among institutions and users operating within Europe.
That compliance backdrop is shaped by the European Union's Markets in Crypto-Assets (MiCA) regulation, which began applying to stablecoin issuers in mid-2024 and requires euro-pegged e-money tokens to be issued by authorized firms holding adequate reserves. Circle has positioned EURC as a MiCA-compliant token and publishes monthly third-party attestations of its reserves, extending the disclosure practice it already applies to USDC.
Cointelegraph reported the milestone on X on August 18, 2026:
LATEST: Circle's EURC has surpassed €400M in circulation, doubling its supply in a year. pic.twitter.com/0rAqTl9ufA
— Cointelegraph (@Cointelegraph) August 18, 2026
EURC's latest milestone highlights a broader trend toward greater diversification within the stablecoin market, which has historically been dominated by U.S. dollar-pegged assets.
Stablecoin Market Continues to Evolve
The growth in EURC circulation demonstrates that the stablecoin sector is expanding beyond U.S. dollar-pegged assets. As adoption increases, euro-backed stablecoins may play a larger role in facilitating digital payments and tokenized financial services, including on-chain settlement between euro- and dollar-denominated tokens. Market participants will continue monitoring EURC's growth alongside developments in stablecoin regulation — such as how the field of MiCA-authorized euro tokens develops — and institutional adoption across Europe.