Circle's euro-denominated stablecoin EURC has reached €400M in circulation, doubling its supply over the past year, according to the company.
The milestone comes at a time when the European Union is finalizing its Markets in Crypto Regulation framework. Circle launched EURC in October 2023 as an alternative to competitors like Monerium and Tether's EURT, both of which operate across multiple blockchain networks.
Circle did not publicly announce the €400M figure itself but confirmed the milestone when asked by researchers. The stablecoin was valued at approximately €380.9M on July 1, 2026, meaning the growth accelerated sharply in the past month. EURC operates on Ethereum, Solana, and Arbitrum, giving it broader reach than single-chain euro stablecoins but narrower infrastructure than Tether's USDT, which commands over $100B in global circulation across dozens of networks.
EURC's growth trajectory outpaces typical stablecoin adoption curves in non-dollar regions. Tether's EURT took roughly 18 months to reach €100M in circulation after its 2021 launch. Monerium's euro issuance remains under €20M despite existing since 2019. Circle entered the market after the EU's crypto regulation proposals began taking shape in 2022, and has secured regulatory approval from French authorities and integrated EURC with major infrastructure providers including Coinbase and centralized exchanges operating under MiCA licensing.
Institutions have begun using EURC for cross-border settlement and as collateral in DeFi protocols, though transaction volumes remain a fraction of dollar stablecoin activity.
Circle doubled its euro stablecoin supply in one year while maintaining constant-collateral backing, a ratio that mirrors dollar stablecoin expansion during comparable growth phases. EURC reached €400M in 12 months versus 18 months for Tether's EURT to reach €100M. If EURC has not exceeded €600M in circulation by August 2027, the doubling pace will have slowed materially compared to its current trajectory.
